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Building Expropriation

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  • Building Expropriation

    Hi Everyone,

    Our downtown location is being expropriated by the province to widen the adjacent highway. What's worse is that I have to mass vacate all 600 tenants by December 31, 2017 (merry Christmas). I am starting to formulate a plan to move them all out in the next 4 months, as I believe that very few people will choose to move out in December.

    Has anyone else gone through something like this? Can anyone offer any practical advice?

  • #2
    I can imagine now the headache of all of this. Is the compensation from the province going to cover all this? I wonder how many people will just refuse to move and then have the province deal with them. I also wonder how many people will ask for compensation from you for their troubles. All you have to say is talk to the government about your troubles. If you have other locations I guess you could get them moved there. What a pain.
    "Never let the inmates run the asylum!"

    Comment


    • #3
      Wow. I'd get letters sent out ASAP. Then phone calls-definitely try to accommodate them at your other facility (do you have a truck?) and get the numbers of other local facilities if they don't want to move very far and let them know you're rec'cing them for this.
      I was born to be wild, but only until about 9:00 pm.

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      • #4
        We had to submit fianacials from previous years, and the Province has agreed to pay an amount equal to our historic NOI.

        We will offer our customers a free truck voucher if they move out or a full moving service if they relocate to another one of our facilities.

        Unfortunately, they require an unoccupied building at the end of the year, so leaving a few stragglers isn'the an option.

        I will do my best to retain all my staff, and we will be paying out a 3 month severance to those who we cannot keep.

        It sucks to be me for the next five months.

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        • #5
          Please keep us updated about all this. I am looking forward to some of your upcoming stories about all this and the tenants.
          "Never let the inmates run the asylum!"

          Comment


          • #6
            mseguin Oh No!! I have never been through anything like this. Please keep this thread open with updates, situations that come up and solutions. I think this would be a GREAT article for ISS but you would need to track from beginning to end. What do you think? Amy_ISS ??
            Stephanie Tharpe
            Senior VP of Operations
            A+ Storage of Tennessee, LLC
            Nashville, TN
            http://www.aplustorage.com
            615.288.2162

            TNSSA Board of Directors
            www.tnssa.net

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            • #7
              I'll keep you all updated.

              Comment


              • #8
                The expropriation is going well so far. I'm anticipating it going well until the last month or so, at which point we will be dealing with all the unreasonable people and people we could not get a hold of.

                I have long held a theory (and probably so have you all) that tenants will do whatever possible to avoid having to come down and deal with their stuff. We are offering all our tenants storage units at any of our other facilities, and we will pay for movers. I have instructed the managers to tell customers that they don't even have to lift a finger.

                The response has been unbelievable, we have already been able to transfer a huge amount of customers over. I'll be able to fill the remaining 4 facilities, and my boss still makes a return on his investment.

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                • #9
                  I bet there will be at least 2 squatters that refuse to leave. That story I want to see here.
                  "Never let the inmates run the asylum!"

                  Comment


                  • #10
                    I think it sucks that imminent domain can take your property - often without proper remuneration for what you have built.

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                    • #11
                      You would think that the government, who is so great at spending other people's money, could pay an owner what the property is worth after working so hard to build it up and make it a value. Even in Canada all is not fair.
                      "Never let the inmates run the asylum!"

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                      • #12
                        I guess the alternative would be curvy roads LOL.


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                        • #13
                          I agree with everyone being notified ASAP and trying to get things done way before that time. Once the holidays hit, you're lucky if you can contact anyone. Wow, that is crazy.
                          Chuck G.
                          Content Developer & Social Media Manager
                          Online Storage Auction Services
                          iBid4Storage

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                          • #14
                            Do some comparison shopping as a nicety for your customers by doing a map search of locations within two miles of you and the pricing. Let the other company's know of your challenge and get pricing from them for your customers. Then send out a letter to your customers with the information as a service to them.
                            Tall Terri

                            The customer's fantasy doesn't always match with our reality! http://www.selfstoragetalk.com/core/...ilies/cool.png

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                            • #15
                              I had this happen to me in Denver. The Department of Transportation wanted to put a freeway off ramp through the property. I though I would cooperate with them and game them a rent roll. This was a mistake. They contacted the tenants. I do not know what they offered but the tenants started to move out and affected the cash flow. They also dragged out the closing/sale date. I ended up hiring a lawyer to expiate the sale.

                              Are you selling them an empty building? Are they compensating you to empty the building? In my transaction, I walked away from the business.

                              Tip: you might want rent a few units to see/get a incentive to move out. Just a thought. I did not do this.

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