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  • Yellow page ad

    I just bought a 100 unit self storage facility and I got a bill for the former owners ad. Am I responsible for continuing the ad and paying for it?
    Scott

  • #2
    Originally posted by ruffrage1 View Post
    I just bought a 100 unit self storage facility and I got a bill for the former owners ad. Am I responsible for continuing the ad and paying for it?
    Scott
    In a word...NO, you are not

    I want to say that this very same thing happened to us.
    Call the number, politely ask to speak to a higher up in charge and explain to them that you are now the new proud owner of the property
    and that you will not be paying the invoice.
    Make sure to keep detailed notes on who you spoke to, first and last name and notate the times of the calls.
    The invoices will continue to come

    www.columbiastoragegroup.com

    Don't put off until tomorrow, what you can do today.
    http://www.selfstoragetalk.com/core/...ilies/wink.png

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    • #3
      In a word, "NO". If they agreed with the yellow pages and that ad has already been placed and running and you bought the facility and everything attached to it then you should pay but if the ad is not yet run and they are pre billing you, shut it down. I would also contact the old owners and ask them about it.
      "Never let the inmates run the asylum!"

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      • #4
        This same scenario did happen to my owners at the location that I currently work!

        The invoice was for the upcoming publication, it did take a long time for the invoice to stop coming.

        If you did not authorize the publication, do not let them brow beat you in to paying for it.
        www.columbiastoragegroup.com

        Don't put off until tomorrow, what you can do today.
        http://www.selfstoragetalk.com/core/...ilies/wink.png

        Comment


        • #5
          Originally posted by lady5563 View Post

          In a word...NO, you are not

          I want to say that this very same thing happened to us.
          Call the number, politely ask to speak to a higher up in charge and explain to them that you are now the new proud owner of the property
          and that you will not be paying the invoice.
          Make sure to keep detailed notes on who you spoke to, first and last name and notate the times of the calls.
          The invoices will continue to come
          lady, just wanted you to know this. I saw this post and typed out a response and hit "post reply" and when the page switched and showed my post under yours we had both started out the same way. Scary!!!!!!!!!!!!
          "Never let the inmates run the asylum!"

          Comment


          • #6
            Pac...great minds think alike!!
            www.columbiastoragegroup.com

            Don't put off until tomorrow, what you can do today.
            http://www.selfstoragetalk.com/core/...ilies/wink.png

            Comment


            • #7
              I was thinking the same thing. But still, scary! Have a great day.
              "Never let the inmates run the asylum!"

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              • #8
                We went through the same thing when we purchased our facility years ago. We specifically put in the contract that we were not responsible for any current, outstanding or future invoices for any expenses incurred prior to xx date (purchase date). The whole deal almost fell through because the previous owner wanted us to pay his $12,000 yellow page ad that he had just renewed.

                Sorry, not my problem. We even changed business names just to be safe as we didn't want anything to do with the previous owners, or business, just the paying tenants lol.

                Be careful though if you didn't put that language in the contract. The previous owners could come back at you because something like a yellow page ad usually goes for a year, thus you get advertising for your existing number at their expense.

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                • #9
                  Be careful you could lose the phone number if you were planning on keeping it. If you have a new number in place I would say do not pay it.

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                  • #10
                    You can't say "yes" or "no" without looking at the purchase agreement. That should - SHOULD - explain your liability for contractual obligations such as this.

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                    • #11
                      Originally posted by Dave Scott View Post
                      Be careful you could lose the phone number if you were planning on keeping it. If you have a new number in place I would say do not pay it.
                      Exactly, that's why we put it in the contract, and we were able to keep the number.

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                      • #12
                        Originally posted by tomokc View Post
                        You can't say "yes" or "no" without looking at the purchase agreement. That should - SHOULD - explain your liability for contractual obligations such as this.
                        If you had a good agent then yes it should say it in there. We did not have a good agent and had to put it in per our own suggestion, even against both agents opinions. In the end it saved us $12,000

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                        • #13
                          Thanks everyone, we had to change the phone # and we wanted to change the name, so the bill is going to the trash.

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                          • #14
                            Coincidentally, when I purchased my business years ago I obtained a preferred phone number - 94-STORE - which we've used & promoted ever since. I just cancelled the original number yesterday which had been costing $68 per month. Good to get that $800 annual expense off the books!

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                            • #15
                              I agree. Check the contract and read the fine print. From there you will understand what your obligations are and what you need to do to tie up loose ends.
                              Chuck G.
                              Content Developer & Social Media Manager
                              Online Storage Auction Services
                              iBid4Storage

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