SpareFoot, an online marketplace for self-storage consumers, has released a list of “America's Top 20 Cities for Storage Auctions.” To determine the cities, the company compiled population information from the U.S. Census Bureau and auction data from StorageUnitAuctionList.com, a website that lists lien sales occurring at self-storage facilities. The ranking is determined by the number of storage auctions per capita in cities with populations of at least 50,000, according to “The SpareFoot Blog.”
Topping the list was Marietta, Ga., a suburb about 20 miles northwest of Atlanta, which hosted 346 self-storage auctions in 2013, or 0.00593 per capita. Part of the reason for its large number of lien sales is a high density of population and established storage businesses, which results in increased demand for available storage units, according to Anne Ballard, president of training, marketing and developmental services at Atlanta-based Universal Storage Group, a company that provides third-party management services and training for storage businesses.
“If there wasn’t so much demand, owners and operators could take a little more time getting rid of people who are not paying,” Ballard told the source. “But when the demand is high, they can’t do that. They need to process the deadbeats out as quickly as possible.”
Georgia also recently updated its lien law to allow storage operators to send auction notifications via e-mail, which has increased operational efficiency and the speed to auction, Ballard said.
The highest concentration of storage auctions occurred in Florida, which has 12 cities on the list. While self-storage operators in many states have to wait 60 days before they can begin the lien process, Florida operators can begin after 30 days of delinquency and often hold auctions within 60 days, according to Scott Kelly, vice president of the Florida Self Storage Association and a consultant with Synergy Storage Group, a management company and brokerage firm serving the storage industry.
The top 20 cities, ranked in descending order, are:
- Marietta, Ga.
- Pensacola, Fla.
- Ocala, Fla.
- Sarasota, Fla.
- Fort Myers, Fla.
- Bradenton, Fla.
- Orlando, Fla.
- Spring, Texas
- West Palm Beach, Fla.
- Columbia, S.C.
- Smyrna, Ga.
- Pompano Beach, Fla.
- Las Vegas
- Daytona Beach, Fla.
- Lakeland, Fla.
- Miami
- Frederick, Md.
- Kissimmee, Fla.
- Greenville, S.C.
- Gardena, Calif.
Additional list statistics are available on “The SpareFoot Blog.”
Founded in 2008, SpareFoot.com helps consumers find and reserve self-storage units, with comparison shopping tools that show real-time availability and exclusive deals. Since its launch, the company has raised $26 million in venture capital. With a network of more than 7,000 storage facilities ranging from mom-and-pop operations to real estate investment trusts, the company reaches prospective storage renters though partnerships with brands including SelfStorage.com and Penske Truck Rental.
Sources:
- The SpareFoot Blog: America’s Top 20 Cities for Storage Auctions
