For some who get behind, they can’t catch up and their life’s belongings are sold to highest bidder.
Self-storage units are cash cows.
Ain't that the truth. Once you rent one of those things, it's very hard to get out of them. It's easier just to write a check for another month's rent than actually deal with the junk that's stored there. First thing you know, you've paid more in rent that the stuff is actually worth.
>>For some who get behind, they can’t catch up and their life’s belongings are sold to highest bidder.<<
Yep. Kinda like foreclosure. I have to admit, though, that if I had enough “life’s belongings” to rent a storage unit, I’d have enough money to pay the rent or, if not, get the stuff out of there and sell it off. The only way I’d let a storage unit contents get sold off is if I didn’t care about what is in it.
We have a $25 a month unit near our place in Kentucky where we store everything we just “couldn’t do without” when we downsized from a 5 bedroom to a one bedroom in preparation for our move from Seattle. We paid six months in advance - less than half the price of a video game. It contains a lot of record albums and my wife’s collectibles, dinnerware, etc. If it burned down, we’d live. It’s just stuff.
If “our life’s history” were there and we just had to have it, we would get the stuff out before we let it lapse. That is, unless we thought the world today was like it was in August of 1939, in which case, it wouldn’t matter that much.
People really need to understand that stuff is just stuff.