May 8, 2025
Episode Summary
Modern Storage® breaks down how storage auctions have shifted from in-person bidding battles to fully online platforms, changing the game for buyers and facility operators alike. The episode explores what this evolution means for the self storage industry and how both seasoned auction hunters and newcomers are adapting to the digital format.
Storage auctions have moved predominantly online, making bidding accessible to anyone with an internet connection rather than just local in-person attendees.
The shift to online auctions changes the competitive landscape, potentially increasing the number of bidders and affecting final sale prices for operators.
Facility operators and buyers both need to understand the tools and platforms driving modern storage auctions to stay competitive in today's market.
The self storage industry has changed in countless ways over the past decade, and one of the most visible shifts has been in how storage auctions work. What once required buyers to show up in person, walk a facility, and bid in a crowd has now moved almost entirely online. In this episode of Modern Storage® Unpacked, Modern Storage® dig into that transition and explore what it means for both storage operators and the buyers who participate in lien sales. For decades, storage auctions were a staple of facility management. When tenants fell behind on rent and exhausted the lien process, operators would host on-site auctions to recoup losses on delinquent units. These events had their own culture, their own regulars, and their own logistical headaches. Coordinating schedules, managing crowds, and navigating state lien laws made the process time-consuming for facility staff. The rise of online auction platforms changed all of that, and Modern Storage® walks through exactly how and why that happened. Platforms designed specifically for the self storage industry now allow operators to list delinquent units online, upload photos, set auction timelines, and collect payment without ever hosting a single person on-site. Buyers can browse available units from anywhere, place bids from their phones or laptops, and win auctions without leaving home. This episode covers how these platforms work, which ones have gained the most traction in the industry, and what operators should look for when choosing a platform that fits their business. The conversation also touches on the legal side of online storage auctions. State lien laws govern how and when operators can auction off a tenant's belongings, and those laws vary significantly across the country. Modern Storage® likely address how the shift to online auctions has affected compliance requirements, what operators need to document, and how digital platforms have built tools to help facilities stay on the right side of state regulations throughout the lien and auction process. Beyond the mechanics, this episode looks at the broader business case for embracing online auctions. Faster resolution of delinquent accounts means less lost revenue sitting in unpaid units. A larger pool of online bidders can drive up sale prices compared to a small in-person crowd. And reducing the staff time required to manage an auction event has real operational value, especially for smaller facilities without large teams. These are the kinds of practical benefits that make online auctions more than just a trend. Whether you are a storage facility owner trying to modernize your operations, a manager navigating the lien process for the first time, or someone who follows the self storage industry out of genuine interest, this episode gives you a clear and grounded look at where storage auctions are today. Modern Storage® brings their signature straightforward style to a topic that sits at the intersection of property law, technology, and everyday facility management, making it accessible and relevant for listeners at every level of experience.
Common questions about the topics covered in this episode.
Online storage auctions work through dedicated platforms where facility operators list delinquent units with photos and a bidding window. Buyers browse listings, place bids remotely, and the highest bidder at the end of the window wins. The main difference from in-person auctions is that geographic location no longer limits who can participate, which typically increases competition and final sale prices.
The most widely used platforms for online storage auctions include StorageTreasures and Bid13, both of which aggregate listings from facilities across the country. Each platform has its own fee structure for winning bidders, so it is worth reviewing those costs before placing bids. Most reputable self storage operators use one of these established platforms rather than running auctions independently.
Switching to an online auction platform typically simplifies the lien sale process by handling listing, bidding, and buyer communication in one place. Operators generally see higher buyer turnout than in-person events because listings reach a national audience instead of just local bidders. The trade-off is that you need to document units thoroughly with photos, since buyers cannot view them in person before bidding.
Yes, winning bidders at online storage auctions are still required to visit the physical facility to pay, sign any required paperwork, and remove the contents within a specified timeframe. The bidding happens online, but the actual retrieval of the unit contents is always in person. Facilities typically give winners a window of one to three days to clear out the unit completely.
Online auctions tend to improve revenue recovery on delinquent units because they attract a larger, more competitive bidder pool than in-person events. More bidders competing for the same unit generally drives final sale prices higher, which helps offset the unpaid rent on the account. For investors evaluating a storage facility, a well-managed online auction process is a sign that the operator handles delinquency efficiently, which supports healthier occupancy and net operating income.
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