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Auction FAQs

Self Storage Auction FAQs.

What Everyone Needs To Know About Self Storage Auctions

Most importantly, we want you to know that 140 Mini Storage never wants to auction off a storage unit. However, we sometimes must take the necessary legal steps to gain possession of the property inside a storage unit.

If you have additional questions about the self storage auction process, you can contact us at any time for clarification. Thank you.

When Do Self Storage Auctions Take Place?

Our storage unit auctions are scheduled for the third Tuesday of every month and start at 10am.

To view our current schedule, please click here. Please note, this schedule may be altered and is subject to change without notice.

For up-to-date information on our auctions, please contact us today!

Why Do Self Storage Auctions Take Place?

140 Mini Storage never wants to auction off a storage unit. However, we sometimes must take the necessary legal steps to gain possession of the property inside a storage unity. Storage auctions are held for the following reasons:

  • To attempt to regain some portion of the money that is owed on back-due rent
  • To recoup our costs for auctioning the unit property
  • To free up the unit so we can rent to a new tenant that is in need of the unit and will pay rent on time
Does 140 Mini Storage Profit from a Self Storage Auction?

No, we will never profit from any storage auction. If we auction of a storage unit, and we collect more money than what was owed in back rent and fees, we are required to give all the proceeds (above what the tenant owes to 140 Mini Storage) to the tenant.

What if the Tenant of the Unit Cannot Be Reached?

If we cannot reach the tenant of the unit and it brought in more money at auction than what is owed, we are required to send all the proceeds (above what the tenant owes to 140 Mini Storage) to the unclaimed property division of the Maryland state government.

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