Things can get overwhelming with finances. It is easy to get overwhelmed with bills and responsibilities and forget to address some of them along the line. When this happens, some entities take drastic steps to get their money. Let us know more detail about ‘Public Storage Late Fee & Payment Grace Period’.
Public Storage Late Fee & Payment Grace Period
On the other hand, some allow periods of grace to their customers. One of those companies is Public Storage. This entity understands the struggles people can be going through and gives them a payment grace period to do the right thing. But this grace doesn’t last forever, and the aftermath is not exactly pleasant.
What Is Public Storage?
Founded in 1972, Public Storage Inc. has grown to be the largest self-storage services providing brand in the United States of America. This company is spread across several continents and has been thriving for fifty years.
Public Storage is used for storing customers’ belongings, whether it be for personal or business use.
How Public Storage works?
The company rents out spaces to customers based on three factors; the size of the unit, type of unit, and location.
1. Size of unit
The unit size that a customer occupies determines how much their bill will be at the beginning of the next month. The sizes of units available in Public Storage include the small unit, the medium unit, and the large unit. Each of these units has its different rents attached to them.
2. Type of unit
The type of unit a customer purchases can be another factor in determining how much their bill will be at the beginning of the next month. The different types of units are based on what the unit will be used for. As mentioned earlier, Public Storage provides services for businesses and personal use. They also provide units that can be used to park vehicles and climate-controlled units. All these types of units come with separate bills.
3. Location
Because of location, prices can also vary from each other. Customers that live in certain parts of the world pay less than some other customers. This is why the bills of one customer will vary from another. Even in some states in the United States, the bills are more pricey than others.
Also, when a customer wants to begin storing belongings in Public Storage, they are given the storage for the first month for a dollar. Whatever space they use will only cost them a dollar for rent. This sales strategy has kept Public Storage at the top of the game for so long. Many people have come to know the company and their services due to this massive discount they propose to customers who come to them for the first time.
What is Public Storage Late Fee & Payment Grace Period
The payment grace period is the amount of time Public Storage gives a person to pay up their rent for the last month before giving a late fee. This period varies in different states, but it is between a range of 5-10 days generally. When the given time expires, the customer will be charged an additional late fee.
This fee varies, also, according to location unit space. Not every customer that uses Public Storage gets to pay the same late fee if they don’t pay their bills in the stipulated time. Also, failure to meet up with this additional bill in sixty days will cause the company to take drastic measures against the customer.
For the first thirty days, the company will strive to contact the customer through any means possible, pleading with them to pay up their bills and telling them what might happen if they don’t. When the customer turns a deaf ear to their plea, they resort to one of two measures. They either confiscate the customer’s property or auction the customer’s belongings and rent out their unit to another customer.
How Do We Know This?
In 2007, a customer’s belongings were auctioned while the customer was away serving the country in Iran. After trying to reach out to him for months, they acted as the customer, selling his goods off. When the public eventually turned against them for this act, the company eventually paid a compensation of $8000 to the customer.
Over the years, more cases like this have occurred, and most of these customers haven’t gotten their belongings back, nor have they gotten compensation for it. Public Storage Inc. does not take responsibility for any action taken against a customer because they believe they give them enough time to pay their bills.
Conclusion
No one likes to be taken for granted, especially regarding finances. So to stay clear of situations that’ll lead to a loss, it’s only wise to pay up bills when due.
