Annual rent escalation would be a welcome change in the industry

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Jun 6, 2024
5:25:38am

NanoFab Coug Truly Addicted User

Annual rent escalation would be a welcome change in the industry

It’s the month to month 75% increases that are annoying.

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NanoFab Coug

Previous username: bdoggy
Bio page: NanoFab Coug
Joined: Apr 30, 2007
Last login: Jun 26, 2024
Total posts: 36,219 (5,766 FO)

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Messages

Author

Time

So these franchised storage rental facilities. Is it common for them to just keep raising prices without notification?

keithcoug All-American

Jun 6, 12:11am

It’s unethical but a lot of storage facilities do this. They figure people don’t

BlooCoug

Jun 6, 12:12am

Kind of like how it should be illegal to raise state and local taxes beyond very

garyfan

Jun 6, 12:17am

You want govt to control a private business from controlling their own pricing?

Ycrazy

Jun 6, 12:23am

Lots of industries are regulated. There are also laws against price gouging and

BlooCoug

Jun 6, 12:27am

The rental agreements are month to month for a reason, not sure you could call

BYUFBDAD

Jun 6, 12:41am

It’s an unethical business model.

BlooCoug

Jun 6, 8:50am

Not sure excess storage of crap falls under gouging laws. It is not water and

Ycrazy

Jun 6, 1:02am

Or just let people handle their own affairs and engage in or exit private

UNLVcougar

Jun 6, 2:30am

Believe it or not, consumers deserve protections from shark business models.

BlooCoug

Jun 6, 8:54am

Except the government, I guess?

WP17

Jun 6, 9:23am

I must have missed the part where storage unit owners are forcing renters to

UNLVcougar

Jun 6, 9:34am

What is a fair price for self storage, Bloo?

WP17

Jun 6, 3:12am

...and all regulating agencies are eventually captured by the industry they regulate

Bobber

Jun 6, 7:33am

Yes, lots of industries are regulated and there is a lot of damage done to the

UNLVcougar

Jun 6, 12:13pm

I do when said business uses unethical pricing practices.

NumbersGuy

Jun 6, 6:24am

Not unethical or illegal. Law of supply and demand. Monthly agreements.

Phreddy

Jun 6, 12:43am

Not unethical or illegal. Greedy maybe but no law against that. If there's no

ShinobiCoug

Jun 6, 1:53am

Not illegal, but I disagree about it being ethical. Switching costs are high.

NumbersGuy

Jun 6, 6:31am

I don't think you should stop them from changing prices, but I do think they...

NumbersGuy

Jun 6, 6:39am

“I don’t like this, let’s increase government overreach.” No thank you.

Jun 6, 8:11am

I think the government should regulate how much therapists can charge. People need help and money shouldn't preclude

HarlemCoug

Jun 6, 9:34am

Yes, it is very common. They’ve spent a fortune studying “tenant elasticity”

BYUFBDAD

Jun 6, 12:35am

Wow that is interesting seems like a big opportunity for competition?

Ycrazy

Jun 6, 1:03am

The biggest storage companies are very actively buying up the competition

NYC and Japan

Jun 6, 8:10am

it is, which is why I don't spend a single penny on advertising. These very

BYUFBDAD

Jun 6, 12:16pm

You don’t have to live like a refugee.

Sea Chicken

Jun 6, 5:01am

Algorithms. When a certain rental percentage is hit it automatically raises the

Phreddy

Jun 6, 12:39am

100%. They all do annual rent escalation.

justAnotherCoug

Jun 6, 4:46am

Annual rent escalation would be a welcome change in the industry

Jun 6, 5:25am

This.

BlooCoug

Jun 6, 8:55am

This same tactic is used in mobile home communities.

Sea Chicken

Jun 6, 5:02am

This just reinforces my opinion that for the majority of people, if you feel that you need to rent a self-storage unit,

Jun 6, 5:30am

Amen to this. Again, I see it firsthand and have counseled MANY people that

BYUFBDAD

Jun 6, 12:14pm

Generally it is suckers who use storage facilities, and it’s easy to separate

valleus

Jun 6, 6:36am

He mentioned he’s overseas. I’m guessing theres

Jun 6, 7:04am

Lots of use cases where it makes sense to use storage facilities.

BlooCoug

Jun 6, 8:56am

There are some cases where it makes sense. And those cases are usually very

rcbyufan

Jun 6, 10:40am

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