Self Storage Auctions, Rent Increases, and Discounts
Note: These rules vary State to State and do not represent Anytime Storage current business offerings. Call your nearest Anytime Storage location to learn more information about discounts, rent increases, and auctions. To learn more about self storage lien laws click here.
Searching for the ideal location for self-storage? Wonderful decision! Concerns about auctions, the frequency of rent hikes, and the availability of discounts are just a few of the urgent inquiries you may have regarding your rent. Don't worry; we'll cover all of these important topics and more.
Investigating Discounts: What to Expect?
There may be savings available if you decide to rent a self storage unit. While storage facilities offer many other kinds, these three are the most typical ones that you'll probably come across:
First Month Discount:
If you agree to remain a renter for a minimum of two months, you will receive a minimal first month's rent, often as little as $1. This is essentially a two-month offer for half price.
Second Month Discount:
Another common choice is to pay less for your second month's rent, usually by 50%. That represents a significant 25% savings, even if you rent for two months.
Military Discount: Take advantage of a 10% rent and frequently facility store merchandise discount if you are an active member of the armed forces. This is a long-term benefit. Simply show your military ID to the rental agent during the procedure to get an even better rate on the storage you require.
When Do Rent Increases Happen?
While some facilities may choose to increase rent annually, rate hikes every nine months are a common practice in the self-storage sector.
Concerns about auctions and late fees
As long as you follow the facility's guidelines, make your payments on time, and only store items that are authorized, you shouldn't worry about late fees or the prospect of auctioning. This is a quick timeline of what to anticipate:
Grace Period: An extension of time for payment beyond the due date, up to five days.
First Late Fee (5 Days After Grace Period):
Additional costs apply, underscoring the significance of timely payment.
Second Late Fee (After 10 Days):
A pre-lien period starts and further penalties mount.
Pre-Lien Phase (Following 15 Days):
You are notified to make payment when a hefty fee is incurred.
Lien Fee (After 30 Days):
If the unit is overlocked, you may need to pay the full amount due to get it unlocked.
Sale Announcement (Following 48 Days):
a certified mail notice with a two-day window for payment or risk being put up for auction.
Auctions: A Final Option
A dangerous situation that usually arises after 48 days of past-due rent is facing auction. It is essential that you pay your bills on time. If money is tight, think about moving into a smaller apartment or getting your stuff back instead of selling it at auction.
Do you have questions about self-storage lien laws? Storageauctions.net offers information particular to each state.
For a flawless storage experience, go with Anytime Storage. We are available to assist you at every stage of your storage adventure!
