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Self Storage facilities are very similar to hotels and apartment blocks in that they can lease, or rent out their storage units by the day, week, month or year. The customer pays an agreed rental amount to stay, and if they stop paying, the facility owner needs to take steps to rectify the situation.  These steps can eventually lead to eviction, or auction. 

Some Self Storage facilities run on very small margins meaning vacant, or unused storage units are actually costing them money.  Worse still is when a rented unit (filled with a customer`s property) is not being paid for.  

Each Storage facility will have their own processes in place on how they deal with unpaid storage accounts, including sending letters, sms/ text messages and making phone calls to the customer, but the bottom line is, if they cannot track down the customer and/ or the customer is not paying the agreed rent, they are left with little choice but to auction off the contents of the storage unit in an attempt to recoup the accrued rental debt and make the space available for a paying customer.  

This is where iBidOnStorage comes into the picture. iBidOnStorage is a service provider that helps alleviate the stress of dealing with unpaid storage unit accounts, by providing an online auction platform where Storage facility owners can publicly sell a unit’s contents. The highest bidder is given a few days to clear out the contents of the storage unit; the net auction proceeds go towards paying off the accrued debt and the Storage facility is then able to rent out the empty storage space again. 

In Australia, there are rules regarding auctioning the contents of abandoned or unpaid storage units, and each facility will act in accordance with their own lease agreement.  Specific rules also apply to the auction itself, so it is extremely important prospective Buyers read the Terms and Conditions of each auction.

Auctions on iBidOnStorage are sold as a `job lot`, meaning you are bidding on the whole contents, not specific items.  They are also sold `as is`. This means there are no guarantees or warranties provided. Some Sellers will offer an itemised list and multiple images of the storage unit`s content, while others will provide minimal information. The amount of detail provided is the Seller`s choice.

iBidOnStorage.com.au works with many of Australia`s leading Self Storage providers, and we have a large, continually growing number of prospective Buyers nationwide, keeping an eye on our listings.  It is iBidOnStorage`s objective to work with the industry to become the industry`s Number 1 online auction platform.