What Is a Self-Storage Auction?
When someone rents a storage unit, they agree to pay a monthly fee. If they stop paying and don’t respond to notices, the storage company has a legal right—after a certain time period and process—to auction off the contents to recoup lost rent.
These auctions are usually public, meaning anyone can attend and bid.
How Do They Work?
1. Delinquency Notice & Lien Process:
Most states have laws that require storage facilities to give renters multiple notices before auctioning off their stuff. After a certain amount of missed payments—often 30 to 90 days—the facility places a lien on the unit’s contents.
2. Public Notice:
Facilities must publicly announce the auction. This might be through a local newspaper, online auction sites, or public bulletin boards. These notices typically include the tenant's name and the unit number.
3. Auction Day – In Person or Online:
Some auctions happen on-site (like in the shows), but many are now online via platforms like StorageTreasures.com or Lockerfox.com. You view photos, place bids, and win the contents without ever stepping foot in the facility.
4. Bidding:
In person, you usually get a quick look inside the unit from the outside—no touching, no entering. You bid based on what you can see. Online, you rely on photos. Bidding can start as low as $1, but competitive or interesting units go much higher.
5. Payment and Cleanup:
If you win, you pay immediately and usually have 24 to 72 hours to empty the unit. You’re buying everything as is, with no guarantee of what’s inside. You might find valuables, or you might end up with boxes of old clothes and broken furniture.