Quote:
Originally Posted by Brujah
Do the storage unit companies have to auction it off? They don't get first dibs? Could be worth owning a storage unit business just for the defaulters if it's that lucrative.
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I am not sure if they HAVE to auction it. It may vary state to state depending on the law of each state.
However, if you think about it most of these places (at least around here are full), they are in the business of renting space, not owning stuff and selling. If they could keep the contents they would need another place to keep it as the people win the auctions get the stuff out that day or they start paying for the unit themselves. Then there is always the people who pay more than the contents are worth (the storage owner does better selling on those.) And if they did keep it and sell they would need to hire more employees to go through everything, a place to sell it, etc... I think just like anything else most people stick to what they do best and pass it off to someone else. If they could keep it I would bet most would still opt for the quick money and freeing up a unit asap to rent to someone else.