What happens when you fail to pay for your cheap self storage unit? Find out the consequences of missing payments on this handy storage service.
If you have seen Storage Wars or similar programmes about storage auctions, you likely already know that there is a business in the sale of long forgotten cheap self storage units and their contents. That’s the thing though, we often assume those units are sold many, many years down the line when perhaps the person simply went off grid and didn’t pay. Maybe it belonged to somebody who passed and never told anyone about their unit. Maybe, it was the unit of somebody with a secret life. Your thoughts go to all the scandals and stories, whereas in reality, those units probably belonged to somebody just like you and I. Somebody who simply forgot to pay their bills, or who didn’t approach the unit to sort out an issue with payments in time.
If you do rent a handy cheap self storage unit then it is really important to understand your rights when it comes to missed payments. The fact is that there’s a lot more you can do to save your things, especially in the early stages of struggling to pay. It doesn’t have to reach the stage where your things are being auctioned off.
So, What Are My Rights When It Comes To Missing Self Storage Payments?
Your rights in regards to a particular cheap self storage facility will be detailed in the contract you sign and may differ from other units. However, in most cases, missed payments means that the facility essentially has a right to your belongings in their unit. They can hold onto your things until you pay your debt. If the debt is not paid eventually, they can sell your things on to recover some of the costs of your debt. They do however, have to send lots of notices and give you lots of chances to pay your debt first.
What To Do To Stop Your Storage Unit Being Sold
As with most cases of debt, hiding from the problem is only going to make things worse. If you know you will not be able to pay your self storage bill before the payment is due, speak to the unit and let them know your situation. The same goes for missing a payment and knowing you can pay it again. Be honest with the manager and let them know your situation, they will more than likely be able to come to some sort of arrangement with you. They don’t want to have to chase you for payments and go through the expensive process of legalities. They want that unit empty so they can rent it to somebody else. So, it is in your best interest and theirs to discuss your financial situation and to come to some sort of agreement.
If you do not approach them about missing payments, then they will follow the process of chasing payment until such a point they can legally sell the contents of your unit to empty it.
The facility doesn’t want to have to chase you for payment, and you don’t want to lose access to your things. Don’t let it get to the stage of unit repossession, and approach your facility first.