Self-Storage Lien Sales and the Storage Wars Effect

Posted by MiniCo on May 19, 2014 12:00:00 AM

Self-Storage Lien Sales and the Storage Wars Effect

The reality show Storage Wars has in some instances been the cause of increased on-site participation at self-storage lien sale auctions. The potential of larger, inexperienced and less- knowledgeable crowds entering your insureds’ premises comes with a heightened level of risk.

There are some important guidelines that your self-storage clients should follow in regard to lien sales.

Follow State Statutes – Each state has different laws regarding lien sales, and it is critical to follow the applicable state’s laws to the letter.

Inspect and Maintain the Premises – Inspect the facility for slip-and-fall hazards, uneven pavement, loose steps, potholes, and other hazards and make timely repairs. Schedule and perform regular maintenance tasks like snow and ice removal.

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