Many people use storage units all over the world, where they pay monthly for an extra place to store their belongings. For space saving problems, these units are a great solution to an overcrowded apartment or house. However if the rent is not paid on time, a tenant is not allowed to pick up his belongings from the unit until he pays the rent.If however, a tenant is still not able to pay, all the stuff in the storage unit in London is put up for auction. These auctions also take place in the event of sudden deaths and divorce cases also where people put all their belongings into the hotchpot. Such an auction is called a storage auction, and has become the subject of TV shows such as A&E’s Storage Wars, or Spike Network’s Auction Hunters.
For a storage business owner understanding the mindset of these individuals who frequent these auctions can help you recoup more of the back rent when you post one of these auctions. Though the auction of someone else’s belongings does not offer a very pleasant site to an onlooker, these storage auctions are an excellent option to make quick and easy money. However, it is not an easy task and requires a lot of careful research, sagaciousness combined with a good luck.
This business offers a lot of advantages to everyone. For example, this business does not necessarily require an experience and even someone who is new in the field can do exceptionally well, provided that person has good discerning abilities. Another advantage of this business is that one does not need to quit an existing job or a business. These storage auctions are usually held on weekends or during evenings when it is possible for most of the people to attend. Also this business is recession proof, in fact it flourishes more during economically low times as people have no jobs and hence no money to pay rent, which leads them to be evicted from the storage units much more frequently than normal times.290
A few simple tips shall go a long way in guiding us to perfection in this business. We must always confirm about the auction before we leave as most auctions do get cancelled in the event of the tenant paying back the rent and matters getting resolved. One must always be 10-15 minutes early for an auction.
Also, one must never go by the size of the unit as it is a very misleading notion. On getting a chance to peer in and have a look inside the unit, we must observe very carefully and mentally make a note of the customer and try to judge the value of goods depending on the kind of person the customer was. It is also advisable to go for these storage space auctions when there are many auctions happening in a close range of area, as it ensures a lesser crowd and comparatively less competition from the bidders.
Sometimes the belongings that we incur during these auctions also can be re-auctioned again and give us multiple gains. With careful research and planning, one can earn quite a lot of profits. There have been examples of cases where people have found discarded shoeboxes full of treasure after paying meager amounts for the storage units. There have also been cases where people have paid a lot of money and finally ended up with nothing but used shoes and stacks of dirty clothes.
Hence these few simple tips along with a piece of luck shall go a long way in helping us earn some easy side money from time to time and hence one can easily be adept at this business and conciliate huge gains. However one must be cautious as well as these auctions are nothing less than a gamble. So we may lose a lot if luck does not favor us.
Author Bio: David Anderson is a writer primarily focusing on storage and self storage related topics. He loves his family and has a big circle of friend. His articles have been published in some daily magazines, which are applauded by Londoners. He likes to watch Discovery Channel and is in love with mother nature. He always emphasizes on storage london and self storage battersea
2 Responses
Impressive business option, It would definitely help a lot to imbibe by the idea and get some good returns on their investments.
I’ve seen a few self storage facilities in our area who have done auction of items from an unpaid rental. But the items are not all the time ‘saleable’. Although, some are considered unusable or not in very good condition, the storage owners could still recoup some lost rent. We are still lucky that we don’t have any renters who have defaulted on us. Thus, it is best to have a good follow up system in place for such and most importantly, to build good relationship with existing customers who could make referrals.