A new law in Nevada governs liens and foreclosures on self-storage facilities. Nevada Senate Bill 150 will go into effect October 1, 2011 and is designed to protect self storage operators[1]. The bill allows delinquent tenants to be served lien notifications via email as well as verified mail and operators are protected in situations where abandoned property is “sensitive,” such as pharmaceuticals or private records. Additionally, motor vehicles may be towed from property if rent goes unpaid for 60 days; operators may place a limit on and then verify the value of stored property in the unit as long as that limitation is in the rental agreement, and delinquent tenants are responsible for filing suit within 21 days if the tenant signs a Declaration in Opposition of the lien. In return, self storage operators will wait 30 days after serving notice of the lien to proceed.
Colorado, Illinois and Tennessee are also working on new self-storage laws to protect operators as this real estate sector continues to grow.
Do you think that these laws are good for the sector or unfair to the renters?
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[1] http://www.insideselfstorage.com/news/2011/06/nevada-governor-signs-new-self-storage-lien-law.aspx
As a self storage facility owner who deals with delinquencies every day, I am please to hear about the new law.
It will never cease to amaze me how someone who hasn’t paid in months and who we’ve gone to great lengths to notify and communicate with, will play the victim when their belongings are removed.
After multiple phone calls, certified letters, emails etc. we now even run a skip trace on the individual and will contact relatives, associates or anyone we can find to let them know that if they don’t pay NOW, their stuff is going away.
Cam
I want to learn how to get my first lien.
I think the new law would be a whiff of fresh air. a lot of people take the pi** and only realise when you have gone to great lengths either by email, letters, phone calls and all what not. I should not be that way.
Great new law, but what happens if the contents of the personal property is less than the amount due on the unit?