What Happens If You Are Past Due On Self Storage Rental Dues?
Are you behind on bills, including your self storage unit rental bill? If so, you will want to know what you can do to save the items in your unit. You must take some kind of action before the storage facility auctions off the items in your storage unit to help cover the cost of your past due amount. Knowing what steps are taken once you are past due will help you to better understand what can be done. Here’s the process:
Default Time: The default is the amount of time that you have to pay on a late rental payment. The default time is determined in your lease agreement, which is the amount of time that you have to pay your rent after the due date has passed. Once you have reached the default time, the storage facility can deny your access to your unit and will not let you regain access until your past due amount is paid.
Notification Sent: When you have reached being past due on your rental amount at your storage facility, they will send you a notification either by letter or e-mail. This notification should lay out the past due amount and any fees that are included in that. This letter will also contain the auction date, which will let you know how much time you have to pay your past due amount before serious action is taken.
A Public Notice: The storage facility will let the public know of the date that your storage unit items are going to be up for auction either by publishing an advertisement online, in the local newspaper, or with a notice posted on their office door. The time for the auction is usually scheduled after a certain amount of days that after the default time period is u.
The Lien Sale: You can pay what you owe up until the day of the auction. Doing so will stop the auction altogether, which allows you to keep your items safe and still in your possession. Once items are sold, however, you cannot get them back. If your items have been auctioned off, and the facility has received more money than what was needed to cover past due amounts, then you can claim that amount for yourself. If this money is not claimed, then it usually is just turned over to the state.
Knowing that you have at least a couple of months before your items are auctioned can help you determine when you can collect enough money to pay your past due amounts. Remember to communicate with the facility, as well, which can help you negotiate on the amount that you owe. If you don’t take any action at all, then the unpaid amount is usually sent to a collection agency.
If you are currently looking for a storage unit, visit SaveMor Self Storage LTD.