Extra Space Storage Adds 1,000 Additional Facilities to OpenTech Auction Review Service to Uphold Auction Process Standards Following 50% Overnight Portfolio Growth
In 2023, the OpenTech Auction Review Service program reviewed lien files for 1,800+ Extra Space Self Storage locations to prevent wrongful lien sales and legal disputes in their online storage auctions on StorageTreasures.com. This was a helpful boon in the REIT’s operations after it grew 1,000 facilities overnight in a recent merger.
OpenTech Alliance Launches Online Storage Auction App for StorageTreasures Bidders
The new StorageTreasures online storage auction app for bidders promises to engage and streamline the online auction experience for storage auction buyers and drive higher lien recovery for operators. The app includes new features for the platform to engage bidders and increase auction participation, such as real-time notifications and enhanced mobile searching.
StorageTreasures Welcomes Red Dot Storage As Exclusive Online Auction Partner
StorageTreasures announced an exclusive partnership with Red Dot Storage as the company’s online auction platform. This strategic shift to StorageTreasures enables Red Dot Storage to boost its lien loss recovery rates, increase auction sales, and reduce delinquent unit cleanout costs.
Secrets to Auction Success: You CAN Recover More from Your Self Storage Lien Sales
Get it sold, write off the debt, and move on to more important things. This used to be the only option for self storage lien sales. That is no longer the case with your delinquent units. With the growth of online storage auctions, a wealth of bidder behavior data has revealed proven tactics for greater auction success. You CAN recover more debt from your lien sales if you follow a few simple, data-backed best practices.
Self Storage Legislation Update Part 2: More Changes to Your Self Storage Lien Laws
Legislative efforts are currently in motion in more than half the nation’s states that may impact self storage lien laws. Stay up-to-date on critical changes that impact your self storage business to avoid the risks associated with a wrongful lien sale. Read more for upcoming changes that will impact operations in Alabama, Kansas and Virgina.
Northwest Self Storage Creates Seamless Lien Enforcement Process with StorageTreasures.com
OpenTech Alliance helped Northwest Self Storage reduce operational inefficiencies to create a seamless lien enforcement process with StorageTreasures.com. Since the company started using online auctions in 2017, they’ve not only seen great returns, but have also leveraged StorageTreasures to reduce the number of units that go to auction at all.
Go Store It Mitigates Added Auction Liability from Multi-State Expansion with StorageTreasures
OpenTech Alliance helped relative newcomer Go Store It avoid auction liability during a multi-state expansion with StorageTreasures.com. Founded in 2017, Go Store It had an aggressive plan for growth throughout the southeast, tripling in size over the course of 12 months. With auctioneers licensed in all 50 states, ST helped them stay avoid liability from lien laws.
Heartland Storage Group Streamlines Operations with Self Storage Technology
Heartland Storage Group, the self storage division of HAN Capital, has reduced labor costs and streamlined operational activities across their portfolio with the help of OpenTech technology. With notable backgrounds in finance and investments, Heartland Storage Group’s owners leverage technology to help them reduce operational expenses while maintaining their high standards for customer service.
Extra Space Selects StorageTreasures.com as Exclusive Online Auction Partner
OpenTech Alliance announced Extra Space Storage has chosen StorageTreasures as their exclusive online auction partner. Extra Space, the second largest operator of self storage facilities in the U.S., has converted over 1,000 stores from live to online auctions to date. All facilities that switch to an online auction process in the future will do so on StorageTreasures.com.
Life Storage Signs Exclusive Agreement with StorageTreasures
Life Storage, Inc. (NYSE: LSI) has signed an exclusive agreement to use StorageTreasures.com as the online auction platform for their full portfolio of 800+ facilities. Life Storage, one of the largest self storage companies in the world, leverages technology to allow their field teams to be more efficient and customer focused.
