Common Myths about Storage Auctions
Every once and a while you will come across a storage unit auction at All American Self Storage in Redwood City. While storage auctions have become more popular over the years there are some myths that come along with the popularity. Listed below are some of the most common myths you might come across regarding storage auctions.
Myth 1: Every Unit is Valuable
This is of course a myth. While you might get lucky occasionally, you shouldn’t go into a storage unit thinking you are going to find a gold mine of items. You might be able to find a few things you can sell for a profit in a storage auction but the reality TV shows make it look like it happens more often than it does.
Myth 2: You can’t look inside a Storage Unit
Even though you aren’t allowed physically in the unit, you are allowed to look in it. This will give you a pretty good idea of the stuff that you will be bidding for. It is always a good idea to bring a flashlight so you can see all the way to the back of the unit.
Myth 3: All you need is a Check or Credit Card
This is of course false. If you are going to be placing a bid on a unit you need to have cash in hand. Make sure you bring enough for sales tax and the cost of cleaning the unit as well. Check with the facility manager to see what the fees are.
Myth 4: You can keep everything
While you can keep what you buy in a storage unit auction, some facilities will ask you to return any personal memorabilia you find in the unit such as photo albums or family movies.
Myth 5: Storage Facilities rake in Profit from Auctions
This is also not true. Storage facilities are required by law to only keep the amount that is overdue in rent and the costs of having the auction. The money generated over this amount is given to the tenant of the unit.
Myth 6: Take your Time Emptying out the Unit
It is standard with most auctions that you have until the end of the day to clean out the unit you purchased. Occasionally you can rent out the unit for a month or so to have time in emptying out the contents, you just have to check with the facility manager.