Online Self Storage Auctions-advantages And Disadvantages

By Author: robert anderson
Total Articles: 58
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Online auctions in self storage business are very popular these days. This new method of acquiring self storage spaces is bringing units and bidders together. Online auctions are very convenient for the bidders as well as operators. It allows people to gain insight into a particular facility, allows them to participate and avail benefits at the minimum expense. With the online auctions gaining more popularity with time, there are certain advantages and disadvantages that are associated with this approach.

ADVANTAGES: Following are some of the major advantages of online self storage auctions:

1. The foremost advantage of online auctions is that people don't have to waste time and gas traveling to multiple locations, checking out each storage unit one by one. Instead, they can participate in several auctions at the same time from multiple locations. This way people have more time to research units and decide accordingly. This flexibility allows them to buy units of their own choice; also the owner of the facility can attract high paying buyers even by making limited units available for auction.

2. ...
... With this online system, operators of self storage spaces are relieved that they don't have to open the gates of the facility for the people, showing them units one by one which generally leads to delaying of the sale.
3. With online auctions, more secured method of getting payments is generated. The buyers usually register to participate in these auctions, paying the entry fees using credit cards and if the deal is finalized, the funds are transferred instantly, allowing the bidder to own the unit without much hassle.

DISADVANTAGES: There are also some disadvantages that are associated with virtual auctions, especially for the bidders. These disadvantages are as follows:
1. With online auctions, the people don't get enough opportunity to check the quality of a unit in real. The cleanliness level cannot be judged on the basis of some pictures unless and until someone has personally visited the storage facility before. Face to face public auctions are always considered better than these virtual systems, as it allows the people to check all the details personally.

2. There are no chances of negotiating with the owner. The prices are fixed once the auction is over and the buyer has to pay the final price.

3. There are chances a bidder may fail to appear and collect his property or might deny to pay after the auction is over. These factors can certainly create serious problems for the owner/operator.

One must take his own precautions while participating in these self storage auctions because many cases have been reported depicting the frauds and scams done on several occasions in this business.

For more information regarding self storage units in Redding, visit seven hills self storage service.