07 Oct 2007 07:15 am
Foreclosures Become Income Windfalls For Those Owning Storage Units
| A recent spike in foreclosure filings is helping self-storage facilities here thrive like never before, according to those who manage them. Many self-storage facilities are near capacity. Thousands of units are filled with furniture, appliances and decorations owned by people whose mortgages are in default — and those in the industry are hoping it stays that way. When people are in need of space, the cost is usually not a major concern. Storage unit operators say that most people don’t fuss about price. People say they’re going to stay one to two months but most people stay seven to eight months. Once it’s out of sight, it’s out of mind. They come and pay their rent and say they’re going to get it out but never do. |
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