Click here to learn more. Login. We understand that our customers are often going through a diff... icult life transition. 218 people have already reviewed CubeSmart Self Storage. May 07, 2020 at 17:19 PM EDT. They increase the rent 25% every 3-6 months. CubeSmart owns or manages 1,156 self-storage properties across the United States. CubeSmart annual revenue for 2018 was $0.598B, a 6.98% increase from 2017. Reviews on Trustpilot are mixed, but also focus on specific storage facilities. The largest self-storage REITs saw average rates increase about 12 percent in October, too, according to Green Street. CubeSmart is a real estate investment trust that invests in self storage facilities. If you wish that your prior post be removed, submit a notarized letter. The previous owners only increased the rent once in 3 years by 5 or 10%, that's how a reputable business operates. to count towards your company rating, you can also leave a comment for this review. Gave feedback numerous times to management but to no avail. Get 15% off & 1 month free rent on select storage units at over 1000 CubeSmart self storage facilities. Thank You for Your Reply! Ron I have been renting several units at this location, 4309 Ehrlich Road, Tampa, FL for the last four years and every year they increase my rent. EVERY SINGLE YEAR they have increased my rent by $10.00 a month. MALVERN, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and six months ended June 30, 2020. The above clause in the rental agreement is how they were able to increase my rent by $12 in July 2019 when I had only been there for 6 months (moved in January 2019). Amenities. CubeSmart has long stood for, and has been widely recognized for, exceptional customer service. Drive Up Access. I should have known better. Yet they have raised my rates in under a year. After cubesmart took over, the rent increased from $165 to $292/month. Demand in temporary storage will likely increase in markets with residents moving out, and demand for long-term storage should increase in markets seeing an increase in residents. Reason of review: Once again, self storage showed its resilience and our team continued to adapt, finding innovative new ways to meet the varied needs of … 1-877-279-7585. In July asking rent increased more than 8 percent, and in some markets asking rent grew more than 20 percent, Marr said. Would You Like to Convert It Into Review? Great Comment! Plus, if yo pay by credit card you get charged $3.95. The consensus earnings estimate was $0.41 per share on revenue of $165.7 million. UHaul, Storage Valet, and others I've done business with have NEVER sent a condescending rent increase card in the mail to me- or increased the amount I pay every month. So if you think about average asking net effective rents throughout the quarter, ... And you also paused your rent increases during that time as well. It has also grown its payout for the last seven years in a row and has a current yield of 4.2%. Book NOW with CubeSmart and get up to 1 Month rent free and up to 15% off your monthly rent special at one of our 1,000+ nationwide storage facilities. With the current market, is CubeSmart a buy? We're open and taking many steps to protect you‐including contact-free rentals, available now. Contact Review Author as Verified Representative, Business Solutions For Verified Company Representatives, Pissed Consumer © 2020 All CubeSmart (NYSE:CUBE) Q3 2020 Earnings Conference Call November 6, 2020 11:00 AM ET. CubeSmart understands moving is a very stressful time and works extra hard to make the storage experience easy and convenient for their customers. On September 30, 2014 I received a rent change notice that ups my rate another %10.2 to $119 per month as of November 1, 2014. Rules and Regulations These Rules and Regulations (called “Rules”) are incorporated into and made a part of the Agreement between the Customer and the Owner. MALVERN, Pa., Dec. 12, 2019 -- CubeSmart (NYSE: CUBE) announced today that its Board of Trustees declared a quarterly dividend of $0.33 per common share for the period ending. Interest expense increased from $18.2 million during the three months ended September 30, 2019 to $19.0 million during the three months ended September 30, 2020, an increase of $0.8 million. Climate Controlled. Have they improved their facilities/services? You will be able to edit the text before publishing. PissedConsumer681663. Either I or Owner (CubeSmart) may terminate this Agreement at any time. If you want your response Reason of review: If I terminate this Agreement before the end of a monthly Term, I will not receive a rent refund. ] MALVERN, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) - CubeSmart (NYSE: CUBE) today announced its operating results for the three and six months ended June 30, 2020. After cubesmart took over, the rent increased from $165 to $292/month. Currently, CubeSmart is not rated by the BBB, but there are 106 complaints, mostly revolving around issues with late rent payments and other location-specific complaints. ... 10 Cities Where Rents Are Dropping 10 Cities Where Rents Are Increasing. MALVERN, Pa., Feb. 21, 2019 -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and twelve months ended December 31, 2018. Been there a few months and rent increased (at least my light works..). Popular Articles. Get contact details that poster left for the company. Voice your opinion today and hear what 218 customers have already said. “The last few weeks have brought about a time of great uncertainty… and have also brought out the best in our people. Increases in property operating expenses were attributable to a $1.6 million increase in same-store expenses primarily due to higher property taxes and advertising costs, $2.5 million of increased expenses associated with newly acquired or developed stores and $0.2 million of increased expenses associated with the growth in our third-party management program. Write a private message as CubeSmart verified representative. The increase is attributable to a higher amount of outstanding debt during the 2020 period. If you are using a screenreader and would like help using this website, please call 844-709-8051. The reason this is an issue is that I've had this issue with a previous facility. Our 11 Pine Lakes Pkwy N location has many storage units, including climate controlled storage units and vehicle storage units suited for car, motorcycle, and trailer storage. In late April, the Company launched SmartRental™, its contactless online rental process, eliminating the need for face-to-face interaction while supporting efforts to maintain teammate and customer safety. Rent a Storage Unit at our local 6501 S Interstate 35 E storage facility in Corinth, TX. Rights Reserved, You Are About to Contact PissedConsumer.com, CubeSmart - Mandatory insurance is a scam, I have read and agree to the Pissed Consumer. It is the 4th largest self-storage company in the United States. They increase the rent 25% every 3-6 months. Same-store NOI at its 477 facilities fell 1.6 percent year over year. PissedConsumer1047824. Skip To Main Content. 5 reviews of CubeSmart Self Storage "Staff is friendly, prices are OK. Facilities are clean, well lit and seem to have a relatively constant temperature. As of December 31, 2019, it owned 523 self-storage properties in 24 states and the District of Columbia containing 36.6 million rentable square feet. Pick the best storage unit size & reserve it today! If you’ve recently taken over the property and some of your renters haven’t ever seen a rent increase, some of your long-term renters will be flabbergasted, and you’ll need to … So my rate increase has been 29.3 % in the first 18 months at cubesmart....expect to get screwed once you have moved your stuff into one of their units. Would You Like to Convert It Into Review? If you are using a screenreader and would like help using this website, please call 844-709-8051. Teaneck NJ Self Storage & Storage Units For Rent. What a rip off. No worries here! CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart - Rate increase right after they lured me in w/promotional pricing Oct 31, 2020 @ Pissed Consumer Rights Reserved, You Are About to Contact PissedConsumer.com, I have read and agree to the Pissed Consumer. Get contact details that poster left for the company. By: CubeSmart via GlobeNewswire News Releases. Skip To Main Content. CubeSmart annual revenue for 2019 was $0.644B, a 7.69% increase from 2018. View RV, Boat & Auto Storage. You can try to reach review author by writing a comment to the review or try one of our business solutions. Cubesmart (CUBE) reported 3rd Quarter September 2020 earnings of $0.44 per share on revenue of $172.5 million. Skip To Main Content. No reason or explanation for the increase, just pay more for the same unit that hasn't grown in size but somehow is more valuable than it was before. Demand in temporary storage will likely increase in markets with residents moving out, and demand for long-term storage should increase in markets seeing an increase in residents. I never once got a rate increase. CubeSmart Q2 2020 ... Last quarter, we adjusted several of our operating practices by stopping our lean sales and pausing on our rent increases to existing customers, among other things. Revenues reflect Rental incomeincrease of 4% to $428M, Property management fee incomeincrease of 12% to $20.1M. Product or Service Mentioned: Do you agree with CubeSmart Self Storage's TrustScore? I can understand that any business has to make a profit but this company, in my opinion goes way overboard. You will be automatically registered on our site. Great Comment! Map. Review #1047824 is a subjective opinion of I haven't even had my storage unit for 6 months with CubeSmart, when I randomly receive a "rent increase card" in the mail stating the rental amount of my unit will go up another $50.00. Mandatory insurance, Pricing. was a $5.1 million increase from the 2014 fiscal year, during which CubeSmart reported taking in $40.1 million in non-rental revenue. Thanks. CubeSmart reported FFO per share of $0.44 during the quarter, which was equal to the third quarter a year ago. Change Move-in. Cubesmart offers affordable storage and up to 1 Month of Free Storage! Christopher Marr - … I haven't even had my storage unit for 6 months with CubeSmart, when I randomly receive a "rent increase card" in the mail stating the rental amount of my unit will go up another $50.00. Filters. No. The demand for self-storage is growing, so where will CubeSmart be in five years? Defined terms in these Rules have the same meanings given to those terms in the Agreement. I'm in the same boat. CubeSmart Cons: If you wish that your prior post be removed, submit a notarized letter. & they never even followed up on my request to fix the lighting. Read about their experiences and share your own! Change Location. Showing 133 - 144 of 166 Storage Facilities View RV, Boat & Auto Storage. You will be automatically registered on our site. Note - I did not need to access our unit very frequently so I can't comment on lighting issues as mentioned by a previous reviewer. MALVERN, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- CubeSmart today announced its operating results for the three months ended March 31, 2020. So there is no justification for raising prices, especially for people who have only had units for a few months. Private messages do not impact your company rating. FINANCIAL BRIEF:: For the nine months ended 30 September 2020,CubeSmart revenues increased 5% to $500.4M.Net incomedecreased 3% to $123.3M. If you want your response Cube smarts costs can’t be going up that much in a fixed footage facility. CubeSmart started to get more aggressive in May, with asking rates to new customers up more than 11 percent year-over-year. CubeSmart annual revenue for 2017 was $0.559B, a 9.59% increase from 2016. Get 15% off & 1 month free rent on select storage units at over 1000 CubeSmart self storage facilities. https://www.cubesmart.com/texas-self-storage/corinth-self-storage/3576.html 5' x 5' 5' x 10' 5' x 15' 10' x 10' 10' x 15' 10' x 20' 10' x 30' All Sizes. Increases in property operating expenses were attributable to a $1.6 million increase in same-store expenses primarily due to higher property taxes and advertising costs, $2.5 million of increased expenses associated with newly acquired or developed stores and $0.2 million of increased expenses associated with the growth in their third-party management program. MALVERN, Pa., Nov. 05, 2020 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and nine months ended September 30, 2020. CubeSmart Reports First Quarter 2020 Results. Username and password will be sent to you via email. I've been with CubeSmart for about 6 months now, and I'm already seeing a rent increase. That followed an 8 percent rise in September. Pricing issue. “Over the last few months, we have faced unprecedented challenges and uncertainty. If there is a conflict between these Rules and the Agreement, the Agreement will … Continue reading "Rules and Regulations" We are processing your message. CubeSmart Self Storage of Palm Coast, FL offers affordable self storage with premium amenities. Pricing issue. Thank You for Your Reply! to count towards your company rating, you can also leave a comment for this review. Increases in property operating expenses were primarily attributable to a $2.3 million increase in property taxes and a $1.0 million increase in personnel expenses. CubeSmart review with 1 Comment: I have been renting several units at this location, 4309 Ehrlich Road, Tampa, FL for the last four years and every year they increase my rent. Call Us. 24 Hour Access. Write a private message as CubeSmart verified representative. I have been renting several units at this location, 4309 Ehrlich Road, Tampa, FL for the last four years and every year they increase my rent. I hope this review heeds as a warning to anyone that is considering using CubeSmart for their storage needs- RUN to another storage company. To add insult to injury, CubeSmart sold me a storage unit knowing the lights didn't work! You can try to reach review author by writing a comment to the review or try one of our business solutions. “This past year marks. In December 2018, CubeSmart (NYSE:CUBE) released its latest earnings announcement, which signalled that the company experienced a strong tailwind, eventuating to a double-digit earnings growth of 22%. Private messages do not impact your company rating. About CubeSmart. CubeSmart revenue for the twelve months ending June 30, 2020 was $0.660B, a 6.59% increase year-over-year. Sort By. CubeSmart (NYSE: CUBE) is one of the major players in the self-storage arena with over 1,200 facilities nationwide. (The latest available average weighted rents for CubeSmart, Life Storage, Public Storage and Extra Space Storage fell between more than $14 and just over $17 a square foot in August, per Green Street.) The previous owners only increased the rent once in 3 years by 5 or 10%, that's how a reputable business operates. Revenue grew 3.6% on a year-over-year basis. CubeSmart Q3 2020 ... And you also paused your rent increases during that time as well. “Over the last few months, we have faced unprecedented challenges and uncertainty. MALVERN, Pa., Dec. 08, 2020 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today that its Board of Trustees declared a quarterly dividend of $0.34... CubeSmart Announces 3.0% Increase … So if you think about average asking net effective rents throughout the quarter, ... And you also paused your rent increases during that time as well. They started off the same way as CubeSmart. CubeSmart is a self-administered and self-managed real estate investment trust. Username and password will be sent to you via email. CubeSmart Is Adapting to Higher Supply in the Self-Storage Market The storage unit rental dynamo heads into the second half of 2019 holding fast to its full-year financial projections. Increases in property operating expenses were attributable to a $1.6 million increase in same-store expenses primarily due to higher property taxes and advertising costs, $2.5 million of increased expenses associated with newly acquired or developed stores and $0.2 million of increased expenses associated with the growth in our third-party management program. I can understand that any business has to make a profit but this company, in my opinion goes way overboard. About CubeSmart. Pick the best storage unit size & reserve it today! MALVERN, Pa., Feb. 21, 2019 -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and twelve months ended December 31, 2018. Login. Comment the review as CubeSmart verified representative. 1-877-279-7585. We're open and taking many steps to protect you‐including contact-free rentals, available now. Increased same-store (477 stores) net operating income (“NOI”) 0.8% year over year, driven by 1.7% revenue growth and a 3.8% increase in property operating expenses. “The last few months have showcased the strength and resilience of the entire CubeSmart platform. CubeSmart is a self-administered and self-managed real estate investment trust. MALVERN, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) - CubeSmart (NYSE: CUBE) today announced its operating results for the three and six months ended June 30, 2020. No reason or explanation for the increase, just pay more for the same unit that hasn't grown in size but somehow is more valuable than it was before. Unfortunately, I am locked in renting these units for the next four months but I will be out ASAP. You will be able to edit the text before publishing. CubeSmart - Yearly rental increases Oct 19, 2019 @ Pissed Consumer Related: CubeSmart - Bad Business This year they INCREASED it by $20.00 a month! Click here to learn more. Performance rebounded across our portfolio, as strong demand trends drove record-high same-store occupancies … MALVERN, Pa., Nov. 05, 2020 (GLOBE NEWSWIRE) - CubeSmart (NYSE: CUBE) today announced its operating results for the three and nine months ended September 30, 2020. CubeSmart attributed part of this $5.1 million increase in revenue to “increased insurance penetration.” 28. UHaul, Storage Valet, and others I've done business with have NEVER sent a condescending rent increase card in the mail to me- or increased the amount I pay every month. Rent a Storage Unit at our local 11530 Nuckols Rd storage facility in Glen Allen, VA. Cubesmart offers affordable storage and up to 1 Month of Free Storage! MALVERN, Pa., Nov. 05, 2020 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and nine months ended September 30, 2020. I've been with CubeSmart for about 6 months now, and I'm already seeing a rent increase. We're open and taking many steps to protect you‐including contact-free rentals, available now. Review #681663 is a subjective opinion of We're open and taking many steps to protect you‐including contact-free rentals, available now. Joshua Schutzer - Director, Financial Analysis. They raise them every year I have 2 10x15s so I am paying big bucks each month. Contact Review Author as Verified Representative, Business Solutions For Verified Company Representatives, Pissed Consumer © 2020 All Find Storage Facilities Near: Enter Zip, City or State. The reason this is an issue is that I've had this issue with a previous facility. Read about their experiences and share your own! Call Us. This practice is so cut throat and corrupt, CubeSmart. If you haven’t been doing regular rent increases, the first one will be most jarring to your long-term renters. I have rented a storage space from CubeSmart since 2012. Interest expense increased from $17.5 million during the three months ended March 31, 2019 to $18.7 million during the three months ended March 31, 2020, an increase of $1.2 million. Skip To Main Content . 218 people have already reviewed CubeSmart Self Storage. Book NOW with CubeSmart and get up to 1 Month rent free and up to 15% off your monthly rent special at one of our 1,000+ nationwide storage facilities. The company attributed this to a .1 percent increase in revenue and a 4.2 percent increase in operating expenses. Unit Size. We are processing your message. CubeSmart review rated 2.6/5.0 with Video: I had been with my storage company for almost 2 years before Cubesmart bought them out. Also, their website does not work when you try to log in to make a payment. CubeSmart… CubeSmart. View Outdoor Storage. Moving things into a self-storage unit isn’t usually something that you look forward to, but it is sometimes necessary to get to the next step in your life. “This past year marks. Cubesmart Self-storage Storage Unit. What a rip off. Used them for about 2.5 years and it was easy to sign up and close out. We also offer a variety of moving supplies like tape, boxes, and bubble wrap. Comment the review as CubeSmart verified representative. CubeSmart (NYSE:CUBE) declares $0.34/share quarterly dividend, 3% increase from prior dividend of $0.33.Forward yield 4.24%Payable Jan. CubeSmart has an impressive dividend growth track record, increasing payouts by 28% CAGR over the last five years and by 23% in the last year itself. General and administrative expenses decreased from $10.8 million during the three months ended December 31, 2018 to $9.6 million during the three months ended December 31, 2019, a decrease of $1.2 million. 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Post be removed, submit a notarized letter, TX and rent increased at... Raising prices, especially for people who have only had units for rent revenue... Insurance penetration. ” 28 request to fix the lighting by writing a comment for review. Left for the twelve months ending June 30, 2020 was $,! That time as well over 1000 cubesmart self storage of Palm Coast, FL offers affordable and... To increase my rent by $ 20.00 a month stood for, and I 'm already seeing a rent.! 165.7 million storage with premium amenities using a screenreader and would like help using this website, please call.! Cubesmart review rated 2.6/5.0 with Video: I had been with my company. Of PissedConsumer681663 the entire cubesmart platform to anyone that is defective any time throat corrupt. And bubble wrap life transition an issue is that I 've been with cubesmart for about 2.5 years and was. The twelve months ending June 30, 2020 11:00 am ET long stood for and... 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