What Happens if I Can’t Pay for My Storage Unit?
The storage units offer a convenient solution for individuals and businesses to store their belongings temporarily. However, with the increase in bills and other due commitments, people and businesses might not be able to pay their storage bills on time. Furthermore, uncalled situations may arise, such as an accident, illness, financial setback and other such factors which make it even more difficult for one to meet their payment obligations for the self-storage unit.
What happens if you can’t pay for your self-storage unit in certain circumstances? In this comprehensive guide, we will be exploring the potential consequences of not paying for your self-storage unit. Moreover, we will discuss some possible solutions to navigate and face these challenges effectively.
What Will Happen if You Don’t Pay Your Storage Unit Bill?
Once you’re certain that you will not be able to pay for your self-storage unit, either for personal needs or for business needs or maybe you forgot, here’s what happens to your storage unit.
Your Storage Unit Falls Into the Default
In most cases, the consequences of not paying your storage unit bills are clearly stated in the lease agreement. You would have been informed about the point of default on your storage unit. Point of default is the maximum amount of time one can access the storage unit without paying rent before serious complications. On average, the point of default would last for 30 days. However, it varies from one storage unit to another.
After the point of default time, you will be locked out of your storage unit and out of your properties by the facility managers. Your lock on the storage unit will be replaced with the facility authority’s special red lock, usually with a warning letter.
The Facility will Try to Reach Out to You
The facility manager will try to get in touch with you during the whole process, starting from the reminder to pay the storage bills, if you have forgotten about it. But in case of a financial constraint or other difficult situation which makes it difficult to pay your bills, then the facility manager will try to inform you about your storage facility falling into point of default. Along with the information, the facility manager will be up to discuss the possible issues that you are facing and may help you with some potential solutions. It is advisable to keep your contact information up to date with the facility manager. This helps them contact you before auctioning off your properties.
The Facility Will Auction off your Properties
Usually, you will have a duration of 30-90 days between the point of default deadline and the auction commencement date. However, this duration differs based on the lien laws of the respective state. You can discuss your options with the facility manager and conclude before the auction commences. Generally, the facility manager might ask you to move your belongings out promptly, considering the options that you settle for.
The Commencement of Auction
If things get out of hand, and the properties of your storage unit are moved for the auction process, the facility will advertise the auction round before selling the goods. Most facilities will publicize their auction through newspapers, flyers and posters. Before the auction commences, you can request the facility managers to return certain important items that will not be added to the auction list, such as photos and other important documents.
Or in some cases, you can request the facility for the new buyer of the storage unit. Hence you can contact them to get back some of your personal items. In rare cases, you can participate in the auction to buy your properties.
What to Do If You Can’t Pay for Your Self Storage Unit?
Now that you’re aware of what happens if you don’t pay your self-storage facility bills, let’s discuss the possible remedies to face the consequences and solve them. If you’re certain that you won’t be able to pay for your storage unit, you can follow the provided hints that can smooth things out for you.
Communication with the Storage Facility
Open and honest communication with the storage facility is key. If you’re facing financial difficulties, inform the facility as soon as possible. Some facilities offer grace periods or temporary relief plans. Discussing your situation openly can lead to more flexible solutions and potentially avoid the escalation of the issue.
Exploring Payment Plans and Financial Assistance Options
Many storage providers understand that life can present unexpected financial challenges. Inquire about available payment plans or financial assistance programs. Some facilities may offer temporary reductions, deferments, or hardship programs to help you through a tough period. Exploring these options can provide short-term relief while you work on a long-term solution.
Negotiating with the Storage Provider
Negotiation skills can go a long way in finding a mutually beneficial solution. Discuss your circumstances with the storage provider and explore options such as adjusting due dates, extending payment deadlines, or negotiating reduced fees. Some providers may be willing to restructure your payment plan to accommodate your current financial situation.
Avoid Future Complications With Storage Units
Learn easy and practical ways to have your storage unit bills under control and avoid future financial strain by following the tips provided below.
- To prevent future financial struggles, incorporate storage costs into your budget effectively.
- Evaluate the affordability of your storage unit relative to your overall budget, making adjustments if necessary.
- Reassess the requirements of your storage unit and the properties contained therein.
- Explore alternative storage solutions that may better fit your budget and needs like downsizing to a smaller unit, or sharing a unit with someone else.
- Communicate with the facility manager if there is going to be a delay in the storage unit bill payment.
- Keep your contact information up to date at the facility to be aware of your storage facility’s status.
- Get familiar with your state’s lien laws and the rules mentioned in the lease agreement.
Storage at Bellview
Here at Bellview, we are your go-to for self-storage and removals in Oxfordshire and surrounding areas. We specialise in performing efficient house clearances and removals as well as offering professional self-storage spaces. For more information regarding self-storage facilities, Contact us today.