The Basics of Lien Sales for Storage Units

Need extra storage space? Downsizing and want to clear out some clutter?

A storage unit is the ideal solution! 

But what if the renter skips their monthly payments? 

That’s where lien sales come into play. 

Understanding the Process and Impact of Lien Sales for Storage Units at Our Facility

Beaver Creek Storage aims to provide a safe and secure place for your belongings. 

However, sometimes occupants fall behind on their payments. 

If a tenant defaults for more than 60 days, we may have to enforce the lien through the selling of the personal property which is stored in the leased space at a public sale for cash. The money from the sale is then applied to satisfy the lien. 

This process ensures that we can continue to operate effectively and maintain the quality of service for our other customers.

Notification and Transparency

Before conducting any sale, we notify the occupant of the default by hand delivery, verified mail, or electronic mail at their last known address. 

Transparency is key, so at least three days before the sale, we advertise the time, place, and terms in a newspaper of general circulation in the jurisdiction where the sale will be held. 

We understand that this process can be stressful, which is why the occupant has the opportunity to pay the amount necessary to satisfy the lien and redeem their personal property at any point before the sale. 

Furthermore, we provide detailed information about what happens during the lien sale so occupants are fully aware of the steps involved.

The Evolution of Lien Sales

Typically, we have one or two lien sales for storage units a month, with about 5 to 10 occupants each time.

While we prefer not to have these sales, they are a necessary part of the business. Unfortunately, we rarely recover the total amount owed through these sales. 

Interestingly, we’ve evolved from holding these sales on-site to hosting them on lockerfox.com, where people can bid on the units they are interested in. The bidding usually remains live for two weeks.

For the bidders, it’s almost like treasure hunting—an exciting adventure filled with anticipation. Knowing we’re parting with someone’s personal items is a bit more somber for us.

Respect and Fairness in Conducting Lien Sales

Although lien sales for storage units are not the most enjoyable part of our job, we strive to handle them with as much respect and fairness as possible. 

We inform all parties involved about their rights and obligations and ensure the process is conducted with integrity. 

Our team is committed to making these necessary sales as respectful and fair as possible, understanding the sensitivity around personal belongings.

Choose Beaver Creek Storage for Your Needs

For a reliable and transparent storage facility, choose Beaver Creek Storage. Contact us today to discover our services and how we can assist you. Whether you need extra space or a trustworthy storage solution, we’re here to help.