Category Archives: Governor Greg Abbot

Online Auction Part 2

 Issue 69 – Online Auction Part 2

Introduction…In the last issue No. 68 of Self-Storage Insider, we discussed how Governor Greg Abbot signed Senate Bill 952 into law May 28, 2017.  Self-storage online auctions rules are now clarified. The Texas Self-Storage Association (TSSA) promoted this bill so that online auctions could be codified into Texas Property Statute so there is no question they are allowed.

Why this change is significant…For those who love collectibles and antiques, the TSSA has a listing of upcoming online auctions where  you can participate.  Here’s the link www.txssa.org/auctions. On this link are listed 366 storage units’ content that is up for auction.  The property managers are discovering they are getting a better price for items sold and it takes less time as a third-party auctioneer handles the sale.

Where are the storage units’ content being sold?… This us the cool part of the auction process.  From the comforts of your home, you could bid on storage units located in the following Texas cities:

  • Arlington       Houston     Garland    Frisco     Galveston   Dallas
  • New Braunfels    Carrollton    Fort Worth     Austin    Round Rock
  • Temple   Tyler    Waco   McKinney   Kilgore  San Antonio   Katy
  • El Pasco   Spring   Tomball   College Station   Copperas Cove
  • Mansfield   Lewisville  Bryan  McKinney   Little Elm  Georgetown
  • Kyle  La Feria  Harlingen  San Benito  Mission  Pharr  Edinburg
  • McAllen  Mission  Desoto  Temple  Texarkana  Prosper

In conclusion…One self-storage owner said he auctioned off the items in one storage unit that belonged to an older lady who passed.  The purchaser found four original Republic of Texas Notes that he sold for $2,400.  Who knows what treasures may lie in these auctioned storage units’ content.  But, at least now everyone has a chance to participate.

To “Get 9 Little Known Secrets For Steady Real Estate Income-FREE. click here.

Self-Storage Online Auction Bill Passes

 Issue 68- Online Auction Bill Passes

Introduction…Governor Greg Abbot signed Senate Bill 952 into law May 28, 2017.  Self-storage online auctions rules are now clarified. The Texas Self-Storage Association (TSSA) promoted this bill so that online auctions could be codified into Texas Property Statute so there is no question they are allowed.

What this means to self-storage owners…Many TSSA owners have already been using online auctions to sell abandoned property.  But, this legislation clarifies that online auction is a public auction that satisfies the statute.

Many TSSA members have reported that online auctions offers easier processes, and in many cases higher bids, as the pool of bidders expands.

Many of the same members told TSSA they’d rather spend time on normal business activity of renting and maintaining units and collecting rents than holding in-person auctions at the facility.

In summary…Most self-storage owners and managers will tell you they would much rather collect rent than auction tenants property.  However, the advantage of self-storage over any other kind of property rental, is if we don’t get paid, we can sell the units content to pay back rent and fees.

For those who love collectibles and antiques, the TSSA has a listing of upcoming online auctions where  you can participate.  Here’s the link www.txssa.org/auctions.

To “Get 9 Little Known Secrets For Steady Real Estate Income-FREE. click here.