Let's talk about self storage.

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  • 1.  Three years' unpaid rent...

    Posted 07-15-2021 01:01 AM
    We acquired a storage facility and inherited several debts, among them a unit which was never vacated but has been unpaid for three years.  Am I in the right legally trying to collect the years of rent from the tenant or should we simply clear the unit and consider it a loss?

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    None Nope
    Sir
    Cedar Park TX
    (737) 238-6893
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  • 2.  RE: Three years' unpaid rent...

    Posted 07-15-2021 03:34 AM
    Ask yourself, what is your time worth.  I have found the most important thing is getting them out and getting the unit rented.

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    Lester Strait
    Grande Self Storage
    Grapevine TX
    (817) 481-5796
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  • 3.  RE: Three years' unpaid rent...

    Posted 07-16-2021 08:34 AM
    If you have a signed lease agreement, I would write off the past debt, give them a zero balance and tell them they either have until the end of the month to vacate or start paying rent on the 1st.  Then run them thru your normal auction process if they do not continue to pay the current rent owed.

    We recently acquired a facility and not a single tenant had a signed lease agreement.  It took us 3 months to finally get everyone to sign a lease.  We did have a couple of people who did not sign a lease and were 4 months behind on rent with the previous owner.  we started the eviction process on them since we didn't have signed leases.  when they received the 1st notice to vacate, they contacted us and signed abandonment forms.  We were lucky we didn't have to go through the whole eviction process with them.

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    Sarah Cole
    Exec Admin Asst/Audit Coordinator/Marketing
    Oakcrest Management, Inc.
    Burleson TX
    (817) 426-5996
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