Why Self Storage is the Fastest Way to Lose Money

why self storage is the fastest way to lose money


Also in this edition of Around The Way


Is self storage a money pit?

Storage Wars is not just for television.

These are real life scenarios for many New Yorkers who are forced to use self storage facilities for a myriad of reasons.

And those decisions can lead to not only loss of personal belongings but also loss of funds.

New Yorkers have left a whopping $1 million in unclaimed self storage auction proceeds reported by just two of the many storage facilities.

While no one knows the circumstances why the units went to auction (whether it’s hardship paying the monthly fee or no longer interested in the belongings), it’s safe to say no one wants to give money away.

When people bid on these storage units, any proceeds left after settling the delinquent account goes to the renter.

However, if the renter moved or changed contact information the facility will not have a way to reach them. It’s why it’s so important to keep your contact information current.

Check here to find out if there are unclaimed funds in your name.

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Would you live here in Crown Heights?

1br apt rental on president st in crown heights at corley realty group crg3250

Style over substance doesn’t need to be compromised.

Live here in this garden floor apartment with private entrance.

It’s a beautiful, cat friendly unit completely renovated. It offers:

  • Free Utilities
  • Free Wifi
  • Laundry in Unit
  • Small Television
  • Window Air Conditioner
  • Share Garden Access

You don’t want to miss seeing this in person.

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Converting old Bank branch Buildings

If you’re a fan of architecture then I’m sure you’ve noticed many beautiful buildings initially used as brach locations for Banks.

Along with bank mergers as well online banking, the use of these structures seemed no longer necessary or sustainable.

Subsequently, many banks moved to smaller buildings and leased or sold the larger structures.

Click the link above and see if you recognize any of the buildings as original branches.

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The Urban Jungle in Prospect Heights

If you’re familiar with the Underhill Walls in Prospect Heights then you’ve seen a myriad of local artists showcase their talent on the 17 panel construction wall.

Twice a year during May and December artists are commissioned to paint the wall that shields an abandoned apartment building.

It attracts so many onlookers with its vibrant display of work and the current display won’t be any different with the theme of The Urban Jungle.

Be sure to check it out at the corner of Underhill and St. John’s Place.

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