Are you the renter of a self-storage unit? If so, you may have heard of storage unit auctions. At first glance, they may cause you some concern. Can you fall victim to these auctions? Can your possessions really be sold at one? Yes, they can, but there are steps that you can take to prevent this from happening.
Pay Your Bill
The reason for public storage auctions is unpaid bills. Your storage unit bill should be treated like any other important bill. Treat it just like your mortgage or car payment. If you miss enough payments, your home can be foreclosed on or your car can be repossessed. The same thing can happen with self-storage units. In some ways, your belongings are held as collateral.
Never let your bill fall behind more than two months at a time. Your best bet is to keep it updated and paid on time. If you foresee financial difficulties ahead, remove your belongings while your account is still in good standing. Store them at your home or at the home of a close friend or family member.
Pay Your Bill
The reason for public storage auctions is unpaid bills. Your storage unit bill should be treated like any other important bill. Treat it just like your mortgage or car payment. If you miss enough payments, your home can be foreclosed on or your car can be repossessed. The same thing can happen with self-storage units. In some ways, your belongings are held as collateral.
Never let your bill fall behind more than two months at a time. Your best bet is to keep it updated and paid on time. If you foresee financial difficulties ahead, remove your belongings while your account is still in good standing. Store them at your home or at the home of a close friend or family member.