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Check, Check, and Double Check!
Most every state has very strict laws regarding storage auctions; while they give a lot of power to the facility, you had better have EVERY I dotted and every T crossed! As the manager, I am in charge of the Lien process here, but I still have my assistant manager check my work. Then I check it again....and again!
We have checklists in place for every step of the Lien process, and at least two sets of eyes for each step.
If we find anything wrong, we pull them from auction. Better to start over then open yourself to a lawsuit.
We do everything to avoid auctions...but they are an unfortunate fact of our business. Make sure you have a sound policy in place for collection calls, follow-up with delinquent tenants to see if a settlement could work.
Our delinquency rate sits around 1-2% and we still have 3 or so auctions a year. You just need to make sure you are following your states laws to the letter, since auctions are one of the most litigated things in our business.
I am very new to this program and storage facility in general. There is no list here for me to follow and I only had 4 hrs of training. I am also only part time 8 hrs a week running the self storage facility of over 250 units. Can someone share the list they have to follow on the process of liens, I have a rough idea but I would prefer something to go by which I do not have access to here. We are in NY state if that helps. Much appreciated. Thanks
What do you or your facility do to avoid the tedious auction process? How do you make sure everything is legal and correct so you won't run into problems? Everyone has their own way of running that process.
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