No Crowds – No Bad Weather – No waiting to have enough units
Storable and StorageAuctions.com have partnered together to bring the power of the internet to your auction schedule. Harness the ability to have a successful auction with any number of units, exposure to thousands of bidders, and an easy way to launch your auctions with our easy PMS integrations.
By sending your auction notice letters sooner (not waiting on multiple units) your tenants have a better chance of catching up on their rents – driving up collections/occupancy while lowering delinquencies.
How does it work?
1. How Online Auctions Work
Online storage auctions operate under the same state lien laws as traditional, in-person auctions. This includes sending tenant notices, placing legal advertisements, and reading storage letters within the required timeframes. The key difference is that the auction itself is conducted entirely online at StorageAuctions.com. Be sure to include this platform in all legal notices and advertisements.
2. Setting Up an Account
Creating an account on StorageAuctions.com is a simple and user-friendly process, much like signing up for any other online service. If you need assistance, our customer service team is ready to help guide you through account setup and auction creation.
3. Preparing the Unit for Auction
Listings that are well-prepared tend to attract more interest and higher bids. To showcase the unit effectively, use a phone or digital camera to photograph inside the unit from multiple angles. Take several photos to give bidders a comprehensive view. While not absolutely necessary, four quadrant shots (top left, top right, bottom left, and bottom right), and close-ups of any valuable or unique items such as electronics, tools, or furniture. The more visual detail you provide, the more confident bidders will feel, often leading to better auction results.
4. Auction Day & Buyer Pickup
After the auction ends, the winning bidder will arrive at your facility to make payment and pick up the unit contents. You can accept payment via cash or credit, depending on your terms. A 72-hour pickup window is recommended to allow time for bidders, especially those from out of town, to make arrangements. Online auctions also eliminate many of the challenges of live events, such as undesirable weather conditions and parking lot crowding.
5. Benefits of Online Auctions
Online auctions provide access to a much larger pool of potential buyers, which generally results in more bids and higher returns. Because everything is done online, there's no need to worry about weather conditions or coordinating large groups of bidders on-site. You can auction off individual units as needed, without waiting to accumulate several delinquent accounts. Best of all, there is no upfront cost to use StorageAuctions.com—you only pay when a unit sells.