Most people have seen the TV programmes about auctioning off the contents of storage units. Normally U.S. based, these programmes show the fortunes of treasure hunters hoping to benefit and make a profit from units where, for whatever reason, the bill has not been paid.
But is that what it’s really like? Do Self Storage Centres really hold public auctions if clients don’t pay their bills. Can they empty your storage unit and let the contents go for little or no money in comparison to its perceived value?
The answer is yes and no!
You have an obligation to pay the fees agreed for the rental of your self storage unit and if you fail to meet those agreed payments, the centre has a right of lien over the contents. That means they are entitled to hold on to the contents until any debt is repaid. In the event of non-payment, the goods can eventually be sold to recover the debt. But, there is a proper process to follow to get to that point. Continue reading →