Less Stress, More Money in Self Storage, Part 7

December 12, 2011 § Leave a comment

Now that you have mastered the laws pertaining to self storage, particularly your jurisdiction’s lien law, it is important that you apply them correctly. If you have any confusion at this point, be sure to consult with your attorney.

In applying these laws, it is essential that you pay attention to the details (that is where the devil resides, so to speak). No shortcuts. Meet deadlines. Follow procedures.

This is especially true of your lien law. As I have noted before, the self storage industry has been given a gift. Operators are allowed to enforce their lien without having to go to court (extra-judicially). Saves time. Saves money. At the same time, it is essential that operators follow the lien procedure to the letter, even if they appear fruitless. Why? Because many of those details have been put into place to protect the consumer. Failure to master the details and to make sure they are applied completely each time can result in an expensive and stressful lawsuit.

If you take away only one thing from this post, remember this: if you feel that some detail leading up to an auction has been overlooked, cancel the auction as to any unit involved. Do not proceed.

If you do not have an auction checklist, create one and follow it.

Sometimes, postponing an auction can result in less stress and more money in self storage.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What’s this?

You are currently reading Less Stress, More Money in Self Storage, Part 7 at Bernard Fensterwald Associates.

meta

%d bloggers like this: