Buy Storage Units

How to Buy Storage Units for Profit in 2023 (Ultimate Guide)

Consider starting with storage auctions if you’re looking to buy storage units. As a potential buyer, determining the ideal storage unit to suit your needs can be daunting, especially if you’re unfamiliar with the intricacies of self-storage. Fear not; we’re here to walk you through the entire journey!

Continue reading to discover how to procure storage units worldwide. If you’re keen on purchasing a storage unit outright for personal use or leasing, we’ve provided insights on essential considerations. Moreover, this guide delves into how Greenbar Storage can enhance self-storage marketing, particularly for owners aiming to offload their units. Make sure to read through to the end for a comprehensive understanding.

Understanding Storage Auctions

A storage auction, often referred to as a storage unit auction, is the public sale of contents from abandoned storage units. When tenants neglect to settle their storage unit rents or abandon them for various reasons, storage facilities resort to auctioning the entire contents to recover their losses.

At these auctions, prospective buyers looking to buy storage units place bids on available ones. The highest bidder clinches the deal and becomes the new owner of the storage unit’s contents. This process allows the storage facility to recuperate losses from unpaid rents and free up space for new clients.

Types of Storage Auctions

Storage auctions primarily fall into two categories:

1. In-person Storage Auctions

These auctions occur at a tangible location, often the storage facility itself. Attendees can physically inspect the storage units and engage with fellow bidders. However, they might be less prevalent in certain regions.

2. Online Storage Auctions

These are increasingly becoming the dominant mode of storage auctions for those looking to buy storage units. Platforms like Lockerfox and CubeSmart facilitate online storage auctions, enabling bidders to peruse listings, inspect storage units via photos, and bid virtually. Given the broader accessibility of online auctions, they tend to be fiercely competitive. Depending on your comfort and convenience, you can opt for either auction format.

The best place to find quality storage units at a good price is often a storage auction. To truly benefit from these auctions, understanding how they operate is essential.

In many countries, storage facilities have the right to auction off abandoned units. However, they are obligated to notify their tenants (via mail, email, or phone) if there’s an existing contract or any other affiliation with the storage unit. When unclaimed storage units are up for auction, companies can conduct these auctions either on-site or online.

Prospective Buyers

At these events, prospective buyers have the opportunity to inspect the contents of some units before placing their bids. Once the bidding concludes, winning bidders must promptly pay for and clear out their purchased units.

It’s vital to note that units are sold “as is.” Items within might be under a lien due to unpaid rent. As such, it’s advisable to thoroughly research and review all pertinent documents before bidding or purchasing any storage units at an auction.

Participating in storage unit auctions can be an exhilarating way to discover hidden treasures and potentially earn extra income. However, to optimize your experience, ensure you understand the process in depth. Is it possible to profit from storage unit auctions? With a sound strategy and a touch of luck, the answer is a resounding yes!

In Conclusion

Opting to purchase a storage unit is a significant decision, influenced by various factors such as location, size, security, and cost. Before partaking in any storage unit sale or auction, acquaint yourself with the regulations of your chosen location and the rules of the storage facility.

For storage facility owners wanting to auction abandoned units, it’s crucial to evaluate the unit’s value, demand for that particular unit type, and the sale’s legal aspects. To streamline the process, there are software solutions, like Greenbar Storage, which facilitate efficient inventory and pricing management. Sign up with Greenbar Storage today to explore its features.

Whether you’re on the buying or selling end, thorough research is paramount. Equipped with the right knowledge and tools, purchasing a storage unit can be both stress-free and rewarding.

Greenbar Secure Storage has a wide range of storage units available in Prineville, for Bend, Madras, and Redmond. They offer a variety, including ground-level access, security cameras, 24/7 accessibility, and parking spaces. Locally owned and operated, we are the best choice for convenient and clean self-storage units. All of our commercial storage clients accept deliveries from businesses to make things as smooth as possible! 

Storage Benefits

  • Extra security and family-friendly
  • Unbeatable onsite entrance tech
  • Each unit is protected by a unique code
  • Access your unit at your leisure
  • Save money and have convenience when you most need it

We are proud of the many layers and security of control we have put into our secure storage units such as: 

  • High, heavy-duty fencing surrounds the storage facility at all locations including Redmond
  • You can access your unit via electronic access using personalized codes.
  • Timed access to individual units after entry and an automatic reset of security
  • Galvanized steel walls are almost impossible to crack in storage units in Madras and our locations in Central Oregon.
  • All hours of the day and night, well-lit areas in Bend and other Greenbar Secure Self Storage centers.
  • A resident storage manager who lives on-site, carefully selected and screened and selected out of Prineville.

Contact us to reserve your secure unit today with Greenbar Secure Storage!

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