Rhode Island Updates Self-Storage Laws: Online Auctions and Notice Changes
Rhode Island Updates Self-Storage Laws: Online Auctions and Notice Changes
Rhode Island’s self-storage laws underwent amendments through House Bill 5433 and Senate Bill 366, passed on January 27, 2023.
Owners can now conduct lien sales online, broadening bidder reach and potentially leading to higher bids. This complements in-person sales at the facility. Online auctions offer flexibility, allowing owners to quickly return units to inventory. Owners can choose the approach that suits their facility’s needs.
The bills also revised notice requirements. Instead of publishing debt notices for three weeks, owners now need to do so only once if personal service can’t be demonstrated. This streamlines the process and reduces costs.
However, the self-storage lien law in Rhode Island remains complex. Owners looking to avoid notice via publication can consider using process servers, increasing collection success rates and potentially saving costs.
For more information, refer to the updated Rhode Island Self-Storage Lien Law Annotated available on the SSA’s website or explore the alternative compliance option.