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  • Report: #1075233

Complaint Review: Public Storage

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  • Submitted: Mon, August 12, 2013
  • Updated: Mon, August 12, 2013

  • Reported By: RegularGuy55 — Illinois
Public Storage
Bolingbrook, Illinois USA

Public Storage late fees state statute illegal Bolingbrook Illinois

*Author of original report: Late fee must be LEGAL

*Consumer Comment: You don't get it

*Consumer Comment: NO

*Author of original report: Still getting around the law

*Consumer Comment: Amazing...

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Public Storage is allowed to charge a maximum of 20% of the monthly rental as a late fee.  That amount is set by State law.

So what Public Storage does to let them charge more than the law allows is to artificially inflate the monthly rental amount, then 'discount' it to an amount that the customer actually pays.

When it comes time to calculate their 20% late fee, they don't use the monthly rent the customer actually pays.  Public Storage bases the late fee on the artificially high rent amount that the customer does NOT pay.

This allows them to charge more than the State allows, yet they can argue that they are 'in compliance' with state law.  The storage facility law in this State is fairly new, and it appears Public Storage has already found a way to get around the limits in the law.


This report was posted on Ripoff Report on 08/12/2013 05:34 PM and is a permanent record located here: http://www.ripoffreport.com/r/Public-Storage/Bolingbrook-Illinois-60440/Public-Storage-late-fees-state-statute-illegal-Bolingbrook-Illinois-1075233. 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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REBUTTALS & REPLIES:
2Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Late fee must be LEGAL

AUTHOR: RegularGuy55 - ()

YOU aren't getting it.  I don't object to paying a late fee if I'm late with a payment. Also, I KNOW that I can avoid the fee by NOT BEING LATE.

The POINT is, the fee has to be set so that it complies with the law.  The amount has to be within the LEGAL limit.  Otherwise, what's the point or purpose of having the law?  The law has aspects that protect the rights of storage operators, too.  As a customer, I'm expected to follow all parts of the law.  Why is asking the storage operator to also follow the law such a difficult concept for you to accept?  Unless, of course, you are a manager at one of those facilities and you're evaluated based on how much revenue you produce.

I don't have to file a law suit.  Thankfully, our State Attorney General has a division that enforces consumer protection laws.  All I have to do is file a complaint, and let the AG do the rest.

My purpose in posting here isn't to get something free, or even to evoke sympathy.  I'm WARNING other customers who think their late fee will be based on their actual rent, who then find out that the fee will be based on some artificial, higher rent that they don't actually pay.

You've demonstrated that you think the fee-gouging is perfectly acceptable.  Fine with me, but you did that KNOWING how the late fee is calculated.  All I want to do is make certain other customers are armed with that same knowledge.

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#2 Consumer Comment

You don't get it

AUTHOR: MochaG - ()

"Let me dispense with the obvious, first.  That $1 'first month special' is paid IN ADVANCE.  Would you care to enlighten everyone how a fee paid IN ADVANCE could be 'late'?"


The $1 amount that Robert is talking about is just an example to explain the situation you are talking about. The amount is arbitrary! The point is do NOT be LATE.

"The statute is intended to LIMIT the amount of late fees to a maximum of 'twenty percent of the rental amount.'  Since we're toying with absurdity, why wouldn't the storage place simply set all rents at $1000 a month, then 'discount' them to $100, $150, or $200?  That way, they could collect a $200 late fee from everyone."


No, the intend to give the "discount" is to set a reasonable price for reasonable people. The $1,000 is to be just in case for those "not reasonable" people. Also at the same time, it is a marketing strategy to make people feel that they are getting a discount. How did you feel when you first selected them to store your stuff? Could you still remember that? That's the feeling of what they expected for their customers. Those who cannot pay for the storage rent on time should NEVER use a storage. Simply, sell or dump the stuff instead of spending money every month for nothing. Think far ahead than just now, and weight the situation whether it is affordable or worthwhile. Don't forget to consider the worst case scenario but do forget the best case scenario.

In the end, as Robert said, how about pay it on time so that there is NO late fee? When you rent some thing, do you EXPECT to pay the rent/fee late? If you EXPECT it to happen, you should NEVER rent it at all! The late fee is a penalty to those who do not follow the instruction. It is there to protect business owners for losing money (both profit & cost). The amount of late fee is irrelevant. The laws are there to prevent business owners exploiting the fee and they do their job. If there is no law, the fee would have been a lot more. Of course, a business would try to maximize their profit and would try to work around any laws. This does not allow consumers to be irresponsible and expect cheap/light penalty. Once a payment is late, the business owner eats the cost, not the consumers. So DO NOT BE LATE and there will be NO LATE FEE.

PS: If you feel that you are being taken advantage of, how about a law suite against them? You may listen to lawyers or judges more than you listen to others in public forum. Put yourself in other's shoes and you may understand the situation better. Life is not easy and do NOT expect others to always be nice to you.

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#3 Consumer Comment

NO

AUTHOR: Robert - ()

 That way, they could collect a $200 late fee from everyone

- No they only collect a $200 late fee from people that are late.

 

Again...if it is legal to charge a late fee off the non-discounted rate then they are not circumventing the law.  But if you want the law changed..how about getting off of your a** and instead of complaining about the late fees why don't you work to get the law change.   But be careful of what you ask for..you may get it.

Of course if you like to pay late then there is always the option for you to find another storge facility that charges late fees more in line with what you want.

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#4 Author of original report

Still getting around the law

AUTHOR: RegularGuy55 - ()

Let me dispense with the obvious, first.  That $1 'first month special' is paid IN ADVANCE.  Would you care to enlighten everyone how a fee paid IN ADVANCE could be 'late'? 

I didn't think so.

The statute is intended to LIMIT the amount of late fees to a maximum of 'twenty percent of the rental amount.'  Since we're toying with absurdity, why wouldn't the storage place simply set all rents at $1000 a month, then 'discount' them to $100, $150, or $200?  That way, they could collect a $200 late fee from everyone. 

Well, for starters, that concept is a way to get around the law's limits.  So whatever the discount is, the DISCOUNTED amount is what the renter agrees to pay.  The law's intent and language are clear.  The inflated rent plus discount is also a clear way to circumvent the law.

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#5 Consumer Comment

Amazing...

AUTHOR: Robert - ()

 What an "Sub-Prime Attitude" you must have to not see how the actual issue is you being late..not how much in late fees they are charging.  Let me guess..you want them to charge you the late fee based on the $1 they charge for the first months rent..which equates to about $0.20...yea that make total sense.

Seriously...instead about complaing about how high the late fees are how about taking the simple step of NOT being late...problem solved. 

Of course if you want them to remove all doubt..they could just charge everyone the "full" price every month.

 

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