33-1703. Lien; rental agreement; contents; late fees

443 words·~2 min read·/az/title-33/33-1703

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The operator of a self-service storage facility has a possessory lien from the date the rent is unpaid and due on all personal property stored within the leased space for rent, late fees and labor or other charges, and for expenses reasonably incurred in its sale, as provided in this article. The lien shall not impair any other lien or security interest at the time the storage was commenced, unless the lienor or secured party knows and consents to the storage of the personal property.

B. The rental agreement shall contain a statement, in at least ten-point bold-faced type, advising the occupant:

1. Of the accrual of the lien as of the date the rent is unpaid and due.

2. That property stored in the leased space may be sold or otherwise disposed of if the occupant is in default.

3. That any insurance protecting the personal property stored within the storage space against fire, theft or damage must be provided by the occupant.

4. That a late fee may be charged by the operator for each month that the occupant does not pay rent when due. The rental agreement shall state the date on which rent is due and the date on which the late fee accrues.

C. The rental agreement shall contain a provision requiring the occupant to disclose the following:

1. Any lienholders or secured parties who have an interest in property that is or will be stored in the self-service storage facility.

2. Whether any protected property is or will be stored in the leased space.

D. The rental agreement may provide for a limit on the value of the property that is stored by the occupant on the premises and that limit is deemed to be the maximum value of stored property for all purposes.

E. The operator may impose a reasonable late fee on the occupant for each month the occupant does not pay rent when due. For the purposes of this section, a reasonable late fee may be computed as the greater of $10 per month or twenty percent of the amount of monthly rent. Any late fee imposed by the operator pursuant to this section is in addition to any other remedy provided by law or contract.

F. The operator shall provide adequate notice to the occupant before a late fee is imposed. Adequate notice is provided if the rental agreement complies with subsection B of this section or if a notice is sent to the occupant by verified mail that notifies the occupant that a late fee may be charged in any month in which the occupant does not pay rent when due.