- Report: #907601
Report - Rebuttal - Arbitrate
Complaint Review: Public Storage Inc
Public Storage IncGlendale, California United States of America
Public Storage Inc Operates Bait and Switch. Offers rent then one year later increases it exorbitantly - 17% Glendale, California
A classic bait and switch. After one year, my rent was raised SEVENTEEN PERCENT.
Their main operating cost is INTEREST. Interest rates are low. So low that they pay around 5% on their money. Why are they raising my rent? GREED. GREED on the part of Chairman B. Wayne Hughes and The Hughes Family and the GREED on the part of the PRIVATE EQUITY investors in the company.
For the year ended 2011 they had net income of 823 million on revenues of 1,752 million. A 47% profit margin!!!
This is from picking the little guys pocket because of their unfair business practices.
This report was posted on Ripoff Report on 07/06/2012 09:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Public-Storage-Inc/Glendale-California-91201/Public-Storage-Inc-Operates-Bait-and-Switch-Offers-rent-then-one-year-later-increases-it-907601. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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