Storage Unit Auctions

Australian television has been flooded in recent years with shows about storage unit auctions, causing a great interest in the pastime. Though it has not always been seen as a way of making a great potential profit, the hype from these television shows has highlighted this long tradition in storage auctions and many see this an easy way to make some extra cash on the side.

So How Do Storage Unit Auctions Take Place?

To understand how storage unit auctions take place and what you may find is pretty simple. If a tenant of a storage facility falls behind on payments then it is decided to hold a public auction of the contents of the unit. This is the easiest option for the storage providers to reclaim costs from unpaid rent and loss of potential earnings whilst clearing the space for a new tenant.

After the management of the company decided to take action and hold an auction, it will usually be announced in the local newspapers and online. A date is set and through the promotion of the announcement mean first time and veteran bargain hunters are ready to attend the storage unit auction.

On rare occasions, however, the original tenant of the storage unit can come to an agreement to pay the outstanding rent and remove their items if required from the unit. This can happen at any time from the original announcement of the auction until just a few hours before buyers are welcomed onto the site. When this happens, the management has to remove the unit from the listings and advise buyers that they may bid on another one.

What to Expect at a Storage Unit Auction

Unlike tradition estate auctions, usually held in an auction house – storage unit auctions are considerably less formal. The bids are usually made verbally and the highest bid wins the entire contents of the unit.

If you are lucky enough to claim the highest bid and win a unit then you are usually given a 2-day deadline to remove all the items from the storage space. It would be advisable that before you attend an auction that you consider how you would move the items and whether you require hiring a van. Even the smallest unit of about 25 square foot can be packed high with numerous items.

As you may have seen on popular television shows that depict storage unit auctions, when you attend a live auction, space is opened up for a short period of time. This can be as little as a few seconds before the line of bidding begins.

For the best luck when trying to create a good profit from buying at auctions ensure that in the short period of time you have assessed as much of the contents and estimate the total value of the unit. Match your bidding and stick to a pre-planned budget.

What Decides The Prices of Sydney Self Storage Units?

The importance of hiring a self storage unit has been increasing over the years as individuals need further space to accommodate all they belongings. No matter the type of person or home, the need to hire a unit even for seasonal good is a welcome alternative than a cluttered home. There are great differences in the type of storage available and the prices associated, some of the factors that help determine the costs are stated below. There are a few that are not the most obvious until you think of them.

Unit Size

The more space that you require, it would be easy to understand that it will be more expensive. That is why planning your space and sizing for your needs is so important in avoiding overpaying for space you just do not need. Every square meter should be used so that you get real value for money. The majority of units will help with viewing, sizing, and pricing.

Operating Hours

With many facilities the hours of operation are limited and with that, they may have to pay staff overtime, therefore, driving the price higher. These overtime hours are usually affecting in an increase in your monthly fees making it clearly more expensive.

Climate Control

Depending on the type of items you are storing such as delicate goods you may require one that has climate control included in the price. The benefit of having a consistent temperature is welcome by many however expect larger costs if this is something that you are considering.

Amenities

Prices can be increased if there are amenities available on site, such as a dumpster. These may be available through a resident manager and deter criminal acts such as theft.

Unit Ease of Access

The way that the storage facility is set up can have a great impact on your price of hiring a self storage unit. Some buildings are set up so that there is little to no access from a vehicle to your hired unit whilst some are set up with a unit that has direct loading or unloading options, such as roll-up garage door. Your access requirements need to be considered carefully as it’s likely you will pay more for an easy access unit.

As with many things in life, you can expect that with more services – the higher the price will be. Extra features may sound nice but it is important to place all your requirements in a list and ensure you are getting value for money for what you actually need. It is advisable to speak to the experienced staff at a self-storage unit building to get a clear estimate on your needs and pricing.

We are currently serving Sydney and its suburbs. Give us a call to learn more or visit the homepage: https://hollowaystoragesydney.com.au.