7 Things To Look Out For At Storage Auctions

7 Things To Look Out For At Storage Auctions

An increasing number of people are now utilising storage units in order to store belongings and valuables that they have no space for at home. Homeowners want to keep their homes tidy and clutter-free, but they don’t want to throw things in the trash that they might later have a use for again. That’s why storage units are the perfect solution because they’re more than affordable to rent and provide sufficient space for a lot of items, including vehicles in many cases.

Storage units in Perth are widely available and are commonly rented by those living in relatively small inner-city accommodation, though people living in all types of accommodation rent them out too.

Those who are looking for a unit should visit perthmetrostorage.com.au for more information, but this article will focus on what people need to know if they’re thinking about bidding on the contents of a storage unit at an auction in an attempt to make a profit.

Top Tips and Things Everybody Should Know

Many people make a living from bidding on units at auctions, but most people don’t find success without being aware of the following things.

  • What to bring – At the very minimum, bidders will be required to show up with photo ID, but it’s worth having a wallet full of cash in case an amazing unit is up for grabs.
  • Don’t forget about taxes – There may be taxes involved when buying a unit, so it’s important to bear in mind that the total price could be a little higher than the bid alone.
  • Always check that the auction hasn’t been cancelled – Oftentimes, auctions may be cancelled if there aren’t enough units to sell. It’s worth ringing ahead by two or three days to make sure the auction will go ahead as planned.
  • Turn up to the auction early – Nobody particularly enjoys waiting around for auctions to start, but it’s better to be early than end up missing the whole thing.
  • Find out if there’s an entrance fee – In many cases, bidders don’t have to lose any of their money if they failed to successfully purchase a unit, though some site owners may charge an entrance fee.
  • Remember the cleaning deposit – Usually, the person is required to empty a unit within 48 hours of winning it at the auction, and the site owner will often take a deposit in order to ensure that happens.
  • Find out how quickly the unit needs to be emptied – Those who need more than 48 hours to empty the unit may be able to secure a short-term rental, but that means giving up some of the potential profits.

As aforementioned, many people make a healthy living from buying and selling the contents of storage units, but it’s not an easy thing to do for those who have little to no experience. However, many people would argue that it’s definitely worth a try for the fun of it if nothing else.

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