Governor Newsom signed a bill which becomes effective January 1, 2024, which might be able to reduce the number of newspaper advertisements you have to run before a lien sale.
Specifically, a new option has been added to allow you to run an advertisement “once in a newspaper of general circulation published in the public notice district where the sale is to be held or in the County where the self-storage facility is located, and once on any publicly accessible internet website that customarily conducts or advertises online auctions or sales.” The online advertisement must remain online for Seven (7) days before the sale.” There are several important implications to this change, not the least of which is you must choose the right place to post this “alternative second advertisement”. Further, please note the requirement to include a listing of the contents of the unit in your advertisement has been removed. There are many other changes made and nuances to AB-542. We strongly encourage you to consult with your California legal counsel to review and understand how you can potentially enjoy the benefits of reducing your physical newspaper advertising to one time per sale.
You will need to make certain changes to your lien sale procedures and notices. We encourage you to do this in consultation with your legal counsel.
Congratulations to the California Self Storage Association and the National Self Storage Associations on this marvelous improvement to your lien laws.
