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02/21/2018

Typical Administration Fees

Uptown Mini Storage - Leslie Strickland

What are typical administration fees charged to the tenant if their unit is processed for auction?

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4 Comments

Alisha @ Anerican Store and Lock on Thursday 02/22/2018 at 03:24PM wrote:

Depends on your lease, - example ours is 15% late fee on morning of 6th and then a 100.00 auction fee on the 30th day.. Ie that is we are due on the 1st of every month.

In the old days : it was two 10.00 fees one on the 6th and one the 10th then $30.00 lock cut , Two 50.00 ad charges 10.00 for each cert. ltr sent . 50.00 for auction ad...

For more info look at your lease and state state 44a and your company lawyer.

Sarah Beth Johnson on Thursday 02/22/2018 at 03:24PM wrote:

We typically charge a 100.00 auction fee along with all of the other late fees already charged.

Kevin Leebrick on Tuesday 02/27/2018 at 09:48AM wrote:

We charge a late fee at 5 days past due of 15% of the rent. WE then charge $110 worth of auction fees broken down as follows:
$75 Auction Fee
$25 Lock Cut Fee
10 UCC Fee

Hope these answers help

Lynn Sykes on Thursday 03/01/2018 at 05:39PM wrote:

Sorry - late to the party:)

I think definitely is most important is that your fees for certain events are outlined in your rental agreement/lease as stated by others.

The other point I would like to make is that most recently it has become recommended to itemize your lien process fees instead of "one lump sum" just like Kevin Leebrick mentioned.
For example: is a customer pays immediately upon receiving the lien letter and never goes into the auction/lien advertising - it may be difficult if you are ever required to, to explain why they were charged the same if they were not ever advertised?

Disclaimer: The opinions expressed in the comments shown above are those of the individual comment authors and do not reflect the opinions of this organization.