Auctions

[MLstorage2010]

Is anyone else having trouble getting bids with online storage auctions? The results the past few months have been terrible. Many units with very low or NO bids. We have alternated between storagetreasures.com and storageauctions.com. Seems the same with both.

[dieselrealtor]

I left storagetreasures for this & other reasons. I don't plan to go back to them, ever.

Just had an auction end for way more than I expected at bid13.com

I tried storageauctions some time ago but they didn't seem to have much of a presence in my region, thus few bids.

[Bubba]

We have had little success with both companies. However, bringing back in-person auctions will make a roaring comeback one day soon. There is nothing better than when the auctioneer is cutting the lock and opening the door!

Another alternative we've tried and had good luck with is offering a settlement to the delinquent tenant.

[RHS_TX]

Another alternative we've tried and had good luck with is offering a settlement to the delinquent tenant.

I've settled with a couple of tenants and got them out fairly quickly without leaving a mess, others have been a disaster. Holding over for weeks past my setlement deadline and then cherry-picking the unit and leaving me the trash, with no financial recourse. When we threaten collections, they laugh.

Anybody have a strategy for dealing with that scenario?

[KeelHauler1994]

Your only hold over them is that you have their stuff. When you offer the settlement, depending on unit size, collect a refundable cleaning deposit. Cash only - check all bills. Settlement for me is usually 1/2 balance due, then depending on size - $100 for smaller units, going up to $200 for larger units for deposit. They clean out the unit of items (that is all I really want) since I usually vacuum my units. Then I give them back the deposit - the bills they gave me. Just make sure, auctions and settlements, you lock up all vacant units around the unit in question. I have had tenants pull stuff around a corner, put junk in MT units and heard from another Manager they filled up a tenant trailer with garbage. They are heading out the door, so they really do not care but they do want that deposit money back.

[helenatim]

I have been using selfstorageauction.com because they seem to have the most bidder presence in Montana. I have 2 or 3 people who are consistent bidders and winners. If it's one of those people, they are really good at emptying the unit as required. The other winners have been unreliable. Since I am auctioning as quickly as possible these days, I am not too worried about the total bid amount. What I really want is the unit empty without me having to do it.
I would agree with the OP that is is not going as well as it used too. Maybe its the economy... or maybe Storage Wars is losing its charm

[SimplySpace]

I've settled with a couple of tenants and got them out fairly quickly without leaving a mess, others have been a disaster. Holding over for weeks past my setlement deadline and then cherry-picking the unit and leaving me the trash, with no financial recourse. When we threaten collections, they laugh.

Anybody have a strategy for dealing with that scenario?

We usually only settle with customers when they are getting ready to go up for auction. If we settle, we make them sign a reduced payment agreement and have the agreed upon date (before the auction) on that agreement and that anything left in the space will go to auction or be disposed of as we see fit.

You will get those people that leave trash in the space, but it's worth it to me to get them their stuff back and to start renting the space to actual paying tenants. If there is a lot of trash, sometimes we can either get someone at the auction to bid on it or they will dump it for us if we give them extra time to empty out a space they purchased at auction.

[KrisinCali]

It goes in waves. We use Storage Treasures, and if it doesn't sell the first time we pop it back on for the next week and it usually sells. We've gotten rid of most of our units that way as well. I'd put the unit up two or three times, then junk it or ask one of your other buyers who come in if they want it. Some units are frankly unsellable and have to be junked.

[Steve_hajewski]

I've had good luck with storageauctions.com in Wisconsin. I went from have three bidders who took turns buying units for $20 each to having multiple bidders buying for around $200 to $300 per unit. I also promote the auction in my newspaper ad as well as the local faceook buy/sell/trade page. However most the winners seem to be people that go all over the region buying units for flea markets and internet resale.

[Sparkey]

I get bids on storagetreasures but rarely get paid. I would say at least 65% of my auctions are a bad credit card. Storage treasures new hands off/software controlled back up bidder system has never got me a successful back up bidder.

[Bubba]

I've settled with a couple of tenants and got them out fairly quickly without leaving a mess, others have been a disaster. Holding over for weeks past my setlement deadline and then cherry-picking the unit and leaving me the trash, with no financial recourse. When we threaten collections, they laugh.

Anybody have a strategy for dealing with that scenario?

I just pull my truck up to the unit and take it to the dumpster. I'm happy they are gone and don't mind the extra work that happens once or twice a year max.

[dieselrealtor]

Bid13 was great, first time I used them. Bidder contacted me right after the auction, was on time to meet, brought cash & emptied unit timely.
Cheaper than storagetreasures too. I am in no way affiliated with bid13 but will use them next time.

[RandyL]

I have very good luck with Bid13.com Most of my former live bidders have switched without issues, even get bidders from Wisconsin and Illinois to bid on my Iowa auctions.

[fishhu1968]

I use storageauctions.com here in Louisiana. Definitely better than in person, better reach to new bidders and generally higher bids. I also post the auctions on our own website and FB. I will say that what website you use depends on your own area.

[DUGBURGER]

I've settled with a couple of tenants and got them out fairly quickly without leaving a mess, others have been a disaster. Holding over for weeks past my setlement deadline and then cherry-picking the unit and leaving me the trash, with no financial recourse. When we threaten collections, they laugh.

Anybody have a strategy for dealing with that scenario?

I never had any luck with settlements for exactly the reasons you described.

I offer them the opportunity to sign over the contents of their unit to the company (abandoned property waiver). In this process, they can remove NOTHING, however they are no longer legally liable for the rent, and no longer the owner of its contents.

Then I have 3 options...
1. I can sell their unit to one of our preferred auction buyers (business/estate liquidator). This is another reason to save your auction attendees lists
2. I can call a local donation center/thrift store and have them come remove all of the contents for free.
3. I can put it all in the dumpster/pay to have it all removed

In this process, I save about 120 days of auction/lien process - which equates to rental income at the new street rates (upon re-renting).
There is no additional hassles with the tenant.
Finally, if the unit was a good one, we recoup money from its sale to our "preferred buyer".

Not everyone that is delinquent chooses this option, but it saves us a LOT of time, paperwork, and headache.