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Terri Wood

Ideal Self Storage

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Ideal Self Storage

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RE: Foreclosure/Auction - Tenant Incarcerated

Posted By Terri Wood 11-07-2023 10:08 AM
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Did they happen to sign the vehicle lease after Sept. 2022 with the new towing law? If so you can have the vehicle towed and not go through all the red tape of foreclosing. Once the towing law we got every vehicle tenant to sign a new lease. It has helped so much! ------------------------------ Terri ...

RE: Auction

Posted By Terri Wood 09-25-2023 11:18 AM
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I personally think that going through the auction process is the safest way in case the tenant were to ever come back and say anything. If you are going to the conference I would recommend talking to each of the online auction companies that are there and seeing what suits your facility the best. We ...

RE: Gate Access vs. Rental Agreement

Posted By Terri Wood 09-22-2023 10:07 AM
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Also for reference, there is a question in the GoldBook regarding this on page 12 entitled "No Lease for Units" - that's where we came up with our procedure for it. (Though it didn't mention the overlock part.) ------------------------------ Terri Wood Executive Assistant Ideal Self Storage Waco TX ...

RE: Gate Access vs. Rental Agreement

Posted By Terri Wood 09-22-2023 09:51 AM
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This is what we have done in the past in these instances. Make sure to document all of your attempted correspondence (phone, email and keep any returned physical letters you have sent) Overlock the unit (if they can't get in the gate, hopefully they will call - if they tailgate someone else in ...

RE: Recently acquired facility leases

Posted By Terri Wood 09-21-2023 10:49 AM
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Good morning John! Thank you for that! The leases with this specific facility are already TSSA leases. We still are trying to get in touch with them to sign new ones though. We just like to have a signed one with our terms when we acquire a facility. Unfortunately though, the tenants that ...

Recently acquired facility leases

Posted By Terri Wood 09-20-2023 05:07 PM
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Has anyone had an issue where when you acquired a facility some of the leases were signed by the tenants but not the previous owners? We are trying to find out if we can auction these since the "Lessor" did not sign them. We don't feel comfortable signing them as we were not the owners when the agreement ...

RV & Boat Storage

Posted By Terri Wood 08-03-2023 11:52 AM
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This may have already been asked here before and if so I apologize. We have had some of our RV/Boat tenants ask for extended access hours as they travel and sometimes get back before or after our normal 6:00am-9:00pm access hours. Is this common in RV/Boat storage? How does everyone else handle situations ...

RE: Anyone using the new towing law successfully?

Posted By Terri Wood 07-31-2023 09:56 AM
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We have used it a couple of times and had no issues. The first time the only obstacle we ran into was finding a towing service that would come and get the junked out RV we needed removed. I would have to check with 2 others in my upper management but I think we have used it 3 or 4 times so far. It's ...

RE: Manager Webinar

Posted By Terri Wood 07-14-2023 09:30 AM
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I was about to post the same message! I unfortunately missed it as well but will definitely watch the recording as soon as it is available. Once I see it, I will be sure to post the link in this thread! ------------------------------ Terri Wood Executive Assistant Ideal Self Storage Waco TX (254) 301-4071 ...

RE: Climate Controlled Halls with strong smell from moth balls

Posted By Terri Wood 07-06-2023 10:50 AM
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We have only had this issue one time where we smelled the moth balls. No tenants complained though and that tenant ended up moving out before it became an issue. I would love to hear the feedback from others on this in case it comes up again. Thank you for the question! ------------------------------ ...

RE: Canceled after sold auction

Posted By Terri Wood 06-30-2023 09:59 AM
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In our experience, we have to start the entire auction process over for instances like this. I could be wrong but that is how my team, and I interpreted the GoldBook. ------------------------------ Terri Wood Executive Assistant Ideal Self Storage Waco TX (254) 301-4071 ---------------------- ...

RE: Collections

Posted By Terri Wood 06-02-2023 09:09 AM
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Our lease states that we have a $50 cleaning/dump fee. If they have a credit card on file and leave it dirty, we do go ahead and charge that fee. We also ask for a 10 day move out notice but we don't pursue it for collections if they move out and don't give us notice. If they are on auto pay and move ...

RE: Delinquent Tenants - Alternative to Cutting off Locks

Posted By Terri Wood 05-17-2023 11:21 AM
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I'm not sure about the legal ramifications of having an extra key. We consider it a huge liability because the tenants can always say we accessed it and took something. I would recommend cutting the lock before the newspaper ad so you can list the contents (electronics, appliances, boxes, clothes, etc.) ...

RE: Auction timeline

Posted By Terri Wood 05-03-2023 04:03 PM
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Thank you so much Sarah! We have never done it that way but a newer employee was asking so we started thinking we may be able to get these auctions completed sooner than we had been. I appreciate the feedback that this has already been asked at legal and it is working for others. Have a great day! ...

Auction timeline

Posted By Terri Wood 05-02-2023 03:45 PM
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Good afternoon all! I hope everyone's start to the month of May has been busy, busy! I have a question about the timeline for auctions and want to make sure that we are reading it correctly. The GoldBook states that you can conduct an in person or online auction 15 days after the 1st newspaper ad runs. ...

RE: Home Depot trailer

Posted By Terri Wood 02-23-2023 09:51 AM
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Good morning JoLea!!! Did they sign the new vehicle lease with the towing law verbiage in it? If so, I would think that you could have it towed off the property by a towing company. If they decided to give it back to Home Depot that is on them but it wouldn't be your headache anymore. Have ...

RE: Accessing tenant units

Posted By Terri Wood 01-27-2023 10:51 AM
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Are you using the TSSA lease? It states that we can cut the locks in the event of an emergency like those. I would not be comfortable keeping codes/keys of tenants on file for liability reasons. They can at anytime say that something is missing and you had access. I'll be interested to hear others' opinions ...

RE: RIghts of Tenant on Abandonment

Posted By Terri Wood 07-04-2022 02:23 PM
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During a foreclosure you can ask the winners of the auction to return personal items or you can pull them out before the sale. Page 49 of the Goldbook advises that you try to return them to the tenant and if they don't pick them up within 4 years you can dispose of them. All but one of ours has come ...

RE: Charging sales tax for auctions in TX

Posted By Terri Wood 05-24-2022 02:37 PM
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No problem at all! We keep post-its on the edge of our GoldBook for everything I've ever had to look up so it was a quick find for me. Good luck with your auction! :-) ------------------------------ Terri Wood Executive Assistant Ideal Self Storage Waco TX (254) 301-4071 --------------------------- ...

RE: Charging sales tax for auctions in TX

Posted By Terri Wood 05-24-2022 09:48 AM
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Step 12 of the regular foreclosure process (page 51 of the GoldBook) states that ""Collect sales tax. Whoever is conducting the sale must collect sales tax on the monies paid by the purchasers. This is the legal responsibility of the storage facility under the State Comptroller's sales tax rules." ...