ED Magedson – Founder
Public StorageNationwide USA
Public Storage Do not rent from Public Storage, and if you already do, find some other alternative. Nationwide
I would like to give a word of warning to any that are considering renting storage space from Public Storage. As a company, they will likely try to draw you in to renting with them using some offer that seems pretty reasonable at the start. Then, every 6 months to a year down the line, they'll bump up the rate, citing market rate as the reason. I will note that their idea of market rate is not based on the competition in the area, but on what they feel like they can get away with charging.
Public Storage claims to give 30 days written notice of increases of the charge and any fees, but I have only ever received notification by email very shortly before that increased charge was due. On top of this, if you do not pay the increased amount by the 6th of the month, they will lock you out of the area where your items are stored until you are up to current, including any increases to charges or late fees that they have made in this manner. In short, you have lost access to any of your items past this point unless you pay their increased charges.
I first started storing items in a 10' x 15' unit with Public Storage in February 2009, with an initial rate of $96.90 from their advertising. What their advertising did not mention is that the $96.90 was listed in their system as a discounted rate, but with a higher rate already in their system. Since this time, I have had my rates increased progressively over the years I've been with them to a current rate of $161.00 per month, and a late fee that increased from the one listed in the contract of $20.40 to the current late fee of $32.20. The only notification of increases I've ever received from them on the increases to rental rate have been by email, and no notifications of an increase to the late fees until they've come up.
It is possible that this lack of notifications is because of some break in their system. Perhaps there is a flaw that doesn't update the mail address for notifications, even if you update it in their system. If so, this is still a problem. I've called a few times on their corporate line just to make sure my information was current. It is, but this has made no difference in receiving any sort of notifications.
To give you a better idea of just how much of an increase this is, I have had my rates on the rental go up by over 66 percent since 2009. This is 66 percent increase over 5 years. The late fees have apparently also increased since 2009, though in this case, the increase is a little over 58 percent. All told, I'm paying two thirds more than when I started this thing, all because Public Storage felt they could get away with charging it. When I checked other companies in the same area, the rate for the same size storage unit is currently between about $90.00 to $130.00. None of them came close to what Public Storage claims is market rate. Public Storage claims that market rate is somewhere around $178.00 in that area, even though they list a lower rate for new customers.
Public Storage figures they can increase the rate each year, as they figure most people will just pay the extra rather than dealing with the hassle of moving their stuff back out. And for those that can't pay the increases, well, Public Storage has some hefty lien handling and sale fees that they add on as well, taking those and the additional rent and late fees they'll also charge on the items that can't be recovered until they get paid. Those fees come out of the proceeds they get by selling whatever is in that storage unit. If for some reason the sale doesn't make their total of fees, Public Storage will still charge you the additional amounts, too. What this means: If you are late in paying, and you are unable to catch back up, YOU WILL LOSE YOUR ITEMS, and you will be charged more for the privilege of letting them sell off the contents of your storage unit for them to collect on those inflated fees.
Short form of this, stay well away from Public Storage. They are a greedy company out to gouge you for as much money as they feel they can get out of you, with a particular target painted on long term customers. If you've been with Public Storage for years, they figure you will pay whatever they insist is the rate rather than moving. If you must use a storage place, do not use Public Storage. Stay far clear of this company for your own good. Tell your friends to stay away. Tell companies to stay away. Share this message on social media, in your email lists, on your corporate newsletter. Let Public Storage know that they can not treat customers like this in the only way that they will listen to, by reducing their profits. Take away their paycheck, because they certainly haven't earned it. Don't rent with them. If you are already renting with them, find a way to stop using storage, or go to another storage company. It will be worth it. Stay with them, and you'll find yourself wondering why you didn't listen.
This report was posted on Ripoff Report on 05/13/2014 02:34 PM and is a permanent record located here: http://www.ripoffreport.com/r/Public-Storage/nationwide/Public-Storage-Do-not-rent-from-Public-Storage-and-if-you-already-do-find-some-other-al-1146372. 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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