Auction Hunters Guide: What Are Public Storage Auctions?

Storage auction packed full with goodies

Learn everything you need to know about public storage auctions by reading this article series.

Have you ever heard of a public storage auction, but are not really sure what they are, how they work or how you can get in on the action? 

Truth be told, you could always watch the TV show called "Auction Hunters", but they are not going to tell you the real uglies or the tips and they're also not going to show you how to get started either.

I, on the other hand, am going to answer all of these questions for you in my auction hunter series. I'm an old school auction hunter and I was doing it way before any TV show ever came out!

Now, most auction hunters would not want to share this info because the more people that know, the more competition, but I'm not greedy, so here is to your success!

After pursuing public storage auctions for several years (and making a decent income), I feel that my experience level is enough to help anyone out there who wants to get in on this money-making venture.

I think it is only fair to start from the basics, the very basics, so the first part in my series is going to cover the question, What are they?

 From there, I will go on to tell you everything you ever wanted or needed to know about public storage auctions.

          Part One: What are public storage unit auctions?

Public storage auctions are sales held by public storage facilities in order to collect money that is owed on a storage unit. 

Anytime a renter fails to pay the monthly amount due on their unit, the owner of the storage company has the legal right to put the contents of the unit up for sale. They will typically do this by auction so they can clear the unit out quickly.

Storage companies will typically allow a renter to go up to 3 months past due before they will auction off the unit. This allows the renter time to pay the past due amount and reclaim their stuff.

However, if the renter fails to pay the past due amount, then the auction continues. The auction is open to the public and anyone can attend or purchase the unit thats up for auction. 

The person with the highest bid becomes the new owner of the units content and can do what they wish with it.

Up Next - What can you find in a public storage auction?