Self storage is governed by lien (property) law as opposed to eviction (tenant) law, which means that fewer days are lost to renter default than any other asset class that physically has people in it.
Lien law means that the second a renter is late on their payment, their gate passcode is deactivated or their unit is over-locked.
In the case of a delinquent unit that does not come current, we can abide by local lien law timelines, collect the outstanding fees through an auction, and have a new renter in place in less than 45 days.
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