How do you configure your auction day?

sonyawiprud

I am on anniversary date, we do our auctions online with Storage Treasures (just started) we do our lock cuts in house. Do you have a predetermined date to sell, or do you count the days from day 45? Do you have multiple dates listed in the same month? I know we can sell after day 58, but is there a chart that you use to determine the auction date? TIA

MamaDuke7

When I did regular auctions (mine are now few and far between), I just picked a date every 2 or 3 months.  The units that fit legally into that date were sold, anything else processed into the next one.

themage

We have our auctions in the last week or so of each month (except December). Any unit ready to auction goes up, anything not yet ready gets scheduled for the next one. 

For us it is easier to keep track of lock cuts and the rest of the auction process on a regular schedule.

sonyawiprud

themage said:

We have our auctions in the last week or so of each month (except December). Any unit ready to auction goes up, anything not yet ready gets scheduled for the next one. 

For us it is easier to keep track of lock cuts and the rest of the auction process on a regular schedule.

Thanks for your input, when you say "ready for auction" do you mean they are at least 58 days late? I am on anniversary date, so I'm finding that people are running 3 to 4 rent assessments before we auction off. Management is trying to get us to find a way to lessen the days late to keep it under 90. I'm pulling my hair out trying to figure out how to attain this objective. I have a schedule for the year that reads: If they are 30 days late in November they go to auction in January. So, November 1st to January 6th (auction day) rent has assessed 4 times! However, November 30th due dates have less time to be delinquent than first of the month renters (3 assessments). Any help is truly appreciated. We keep telling management that it can't be done! What does your schedule look like? How do you instruct your staff to enter auction dates? 

sonyawiprud

MamaDuke7 said:

When I did regular auctions (mine are now few and far between), I just picked a date every 2 or 3 months.  The units that fit legally into that date were sold, anything else processed into the next one.

Your customers are never 28 days late? Like, even if I get everyone to pay, I am required to start the lien process at day 29 and inform the customer of an impending auction on day 45, which means I need a date to give them that is within the legal limit of CA law. I rarely have auctions, but I'm forced to go through the lien process. Thank you for your input. 

themage

We are Anniversary date, too. Rent and fees continue to accrue until the unit is paid or auctioned. That does mean people who rented first of month may have more fees, but running auctions based on anniversary date would run our staff crazy.

For us, units 90 days past due are scheduled for the next auction. We can't foreclose before 90 days, so naturally all auctions will be billed longer than that. The actual time before you can foreclose will depend on your state and local laws.

There are ways to stop adding fees and rent, (for example moving a unit out or disabling past due events when the unit gets scheduled for auction) but it can quickly become a mess and may actually reduce revenue. It will also make it more confusing for both maintenance and office staff (if you have both).

sonyawiprud

themage said:

We are Anniversary date, too. Rent and fees continue to accrue until the unit is paid or auctioned. That does mean people who rented first of month may have more fees, but running auctions based on anniversary date would run our staff crazy.

For us, units 90 days past due are scheduled for the next auction. We can't foreclose before 90 days, so naturally all auctions will be billed longer than that. The actual time before you can foreclose will depend on your state and local laws.

There are ways to stop adding fees and rent, (for example moving a unit out or disabling past due events when the unit gets scheduled for auction) but it can quickly become a mess and may actually reduce revenue. It will also make it more confusing for both maintenance and office staff (if you have both).

Yes! This is what we are running into, it just can't be helped. California says we can do it at day 58, however this is not even close to being feasible for staff to conduct lock cuts and again there's no way I am going to schedule several auctions per month based on day 58. Thanks so much for your help. 

helenatim

At 60 days late, regardless of anniv or first-of-month billing,  I start the foreclosure process with an expected auction on day 90 or the closest thurs to day 90.  I only do online auctions and I always schedule the auction to end on a Thursday at 5pm with a 3-day cleanout.  This gives the auction winner a weekend to clean out and the unit is ready to rent on monday morning.  
I take payment by venmo, reimburse the cleanout fee by venmo.  Put a programmable disc lock on the unit and have the auction winner text a photo of the empty unit.  I don't have to meet the auction winner or exchange any physical money.  It's worked pretty well so far.

MamaDuke7

sonyawiprud said:

MamaDuke7 said:

When I did regular auctions (mine are now few and far between), I just picked a date every 2 or 3 months.  The units that fit legally into that date were sold, anything else processed into the next one.

Your customers are never 28 days late? Like, even if I get everyone to pay, I am required to start the lien process at day 29 and inform the customer of an impending auction on day 45, which means I need a date to give them that is within the legal limit of CA law. I rarely have auctions, but I'm forced to go through the lien process. Thank you for your input. 

My lien notice says...

The stored property will be advertised for sale to satisfy the lien after <Date.InsertPrompt>, unless the amount of the lien is paid...

That isn't the date of the auction, but rather the earliest date it could be sold.  Note it says AFTER that date.

Once the date is set, we send a copy of the newspaper ad with their name highlighted.  Then they have the date and time of the auction and it looks scary in the newspaper, so they often pay when they receive that!