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. Been there a few months and rent increased (at least my light works..). CubeSmart attributed part of this $5.1 million increase in revenue to “increased insurance penetration.” 28. Teaneck NJ Self Storage & Storage Units For Rent. No worries here! Change Move-in. Drive Up Access. “This past year marks. 218 people have already reviewed CubeSmart Self Storage. was a $5.1 million increase from the 2014 fiscal year, during which CubeSmart reported taking in $40.1 million in non-rental revenue. https://www.cubesmart.com/texas-self-storage/corinth-self-storage/3576.html 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. Contact Review Author as Verified Representative, Business Solutions For Verified Company Representatives, Pissed Consumer © 2020 All In July asking rent increased more than 8 percent, and in some markets asking rent grew more than 20 percent, Marr said. 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. Used them for about 2.5 years and it was easy to sign up and close out. If you are using a screenreader and would like help using this website, please call 844-709-8051. Contact Review Author as Verified Representative, Business Solutions For Verified Company Representatives, Pissed Consumer © 2020 All CubeSmart Q3 2020 ... 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%. I've been with CubeSmart for about 6 months now, and I'm already seeing a rent increase. 24 Hour Access. 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. Plus, if yo pay by credit card you get charged $3.95. 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. After cubesmart took over, the rent increased from $165 to $292/month. Thanks. It is the 4th largest self-storage company in the United States. Private messages do not impact your company rating. Click here to learn more. 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. Username and password will be sent to you via email. The previous owners only increased the rent once in 3 years by 5 or 10%, that's how a reputable business operates. CubeSmart owns or manages 1,156 self-storage properties across the United States. 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 never once got a rate increase. You can try to reach review author by writing a comment to the review or try one of our business solutions. 218 people have already reviewed CubeSmart Self Storage. Once again, self storage showed its resilience and our team continued to adapt, finding innovative new ways to meet the varied needs of … & they never even followed up on my request to fix the lighting. Write a private message as CubeSmart verified representative. 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. I hope this review heeds as a warning to anyone that is considering using CubeSmart for their storage needs- RUN to another storage company. Pricing issue. 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. Great Comment! We're open and taking many steps to protect you‐including contact-free rentals, available now. Sort By. 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. I can understand that any business has to make a profit but this company, in my opinion goes way overboard. Also, their website does not work when you try to log in to make a payment. 1-877-279-7585. 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. Voice your opinion today and hear what 218 customers have already said. Get contact details that poster left for the company. Get contact details that poster left for the company. May 07, 2020 at 17:19 PM EDT. “The last few months have showcased the strength and resilience of the entire CubeSmart platform. 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 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. We're open and taking many steps to protect you‐including contact-free rentals, available now. Write a private message as CubeSmart verified representative. Username and password will be sent to you via email. MALVERN, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- CubeSmart today announced its operating results for the three months ended March 31, 2020. Reason of review: Pricing issue. Joshua Schutzer - Director, Financial Analysis. 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. 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. Login. CubeSmart is a self-administered and self-managed real estate investment trust. Click here to learn more. We are processing your message. Either I or Owner (CubeSmart) may terminate this Agreement at any time. 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. You will be able to edit the text before publishing. That followed an 8 percent rise in September. 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). We are processing your message. If you want your response Revenue grew 3.6% on a year-over-year basis. Showing 133 - 144 of 166 Storage Facilities View RV, Boat & Auto Storage. After cubesmart took over, the rent increased from $165 to $292/month. CubeSmart (NYSE:CUBE) Q3 2020 Earnings Conference Call November 6, 2020 11:00 AM ET. Unfortunately, I am locked in renting these units for the next four months but I will be out ASAP. 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. About CubeSmart. The previous owners only increased the rent once in 3 years by 5 or 10%, that's how a reputable business operates. Thank You for Your Reply! If I terminate this Agreement before the end of a monthly Term, I will not receive a rent refund. ] CubeSmart reported FFO per share of $0.44 during the quarter, which was equal to the third quarter a year ago. What a rip off. CubeSmart is a real estate investment trust that invests in self storage facilities. Gave feedback numerous times to management but to no avail. 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. Skip To Main Content. View Outdoor Storage. Cubesmart (CUBE) reported 3rd Quarter September 2020 earnings of $0.44 per share on revenue of $172.5 million. CubeSmart is a self-administered and self-managed real estate investment trust. 5' x 5' 5' x 10' 5' x 15' 10' x 10' 10' x 15' 10' x 20' 10' x 30' All Sizes. Do you agree with CubeSmart Self Storage's TrustScore? 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. Read about their experiences and share your own! If there is a conflict between these Rules and the Agreement, the Agreement will … Continue reading "Rules and Regulations" Great Comment! Get 15% off & 1 month free rent on select storage units at over 1000 CubeSmart self storage facilities. Have they improved their facilities/services? Popular Articles. Read about their experiences and share your own! If you wish that your prior post be removed, submit a notarized letter. View RV, Boat & Auto Storage. Christopher Marr - … I should have known better. I have rented a storage space from CubeSmart since 2012. “Over the last few months, we have faced unprecedented challenges and uncertainty. You will be automatically registered on our site. 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. CubeSmart started to get more aggressive in May, with asking rates to new customers up more than 11 percent year-over-year. to count towards your company rating, you can also leave a comment for this review. CubeSmart annual revenue for 2018 was $0.598B, a 6.98% increase from 2017. Cube smarts costs can’t be going up that much in a fixed footage facility. PissedConsumer1047824. Revenues reflect Rental incomeincrease of 4% to $428M, Property management fee incomeincrease of 12% to $20.1M. 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. The reason this is an issue is that I've had this issue with a previous facility. The demand for self-storage is growing, so where will CubeSmart be in five years? Private messages do not impact your company rating. 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. Defined terms in these Rules have the same meanings given to those terms in the Agreement. 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 … No. We understand that our customers are often going through a diff... icult life transition. 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. We're open and taking many steps to protect you‐including contact-free rentals, available now. Change Location. 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. CubeSmart revenue for the twelve months ending June 30, 2020 was $0.660B, a 6.59% increase year-over-year. CubeSmart (NYSE:CUBE) declares $0.34/share quarterly dividend, 3% increase from prior dividend of $0.33.Forward yield 4.24%Payable Jan. They started off the same way as CubeSmart. Skip To Main Content. 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%. If you are using a screenreader and would like help using this website, please call 844-709-8051. CubeSmart Reports First Quarter 2020 Results. Pick the best storage unit size & reserve it today! EVERY SINGLE YEAR they have increased my rent by $10.00 a month. Login. 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. Pick the best storage unit size & reserve it today! 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. 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. 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. Climate Controlled. Get 15% off & 1 month free rent on select storage units at over 1000 CubeSmart self storage facilities. Filters. Cubesmart offers affordable storage and up to 1 Month of Free Storage! 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. Rent a Storage Unit at our local 6501 S Interstate 35 E storage facility in Corinth, TX. 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. The consensus earnings estimate was $0.41 per share on revenue of $165.7 million. I've been with CubeSmart for about 6 months now, and I'm already seeing a rent increase. (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.) CubeSmart (NYSE: CUBE) is one of the major players in the self-storage arena with over 1,200 facilities nationwide. Comment the review as CubeSmart verified representative. CubeSmart is a self-administered and self-managed real estate investment trust. About CubeSmart. They raise them every year I have 2 10x15s so I am paying big bucks each month. The increase is attributable to a higher amount of outstanding debt during the 2020 period. I can understand that any business has to make a profit but this company, in my opinion goes way overboard. Rights Reserved, You Are About to Contact PissedConsumer.com, I have read and agree to the Pissed Consumer. MALVERN, Pa., Feb. 21, 2019 -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and twelve months ended December 31, 2018. Thank You for Your Reply! 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. “The last few weeks have brought about a time of great uncertainty… and have also brought out the best in our people. With the current market, is CubeSmart a buy? Same-store NOI at its 477 facilities fell 1.6 percent year over year. Call Us. ... 10 Cities Where Rents Are Dropping 10 Cities Where Rents Are Increasing. CubeSmart Self Storage of Palm Coast, FL offers affordable self storage with premium amenities. They increase the rent 25% every 3-6 months. Cubesmart Self-storage Storage Unit. And now you want to increase my rent on a unit that is defective? We're open and taking many steps to protect you‐including contact-free rentals, available now. To add insult to injury, CubeSmart sold me a storage unit knowing the lights didn't work! 1-877-279-7585. “This past year marks. Skip To Main Content . 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. 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 … Would You Like to Convert It Into Review? Rights Reserved, You Are About to Contact PissedConsumer.com, CubeSmart - Mandatory insurance is a scam, I have read and agree to the Pissed Consumer. This practice is so cut throat and corrupt, CubeSmart. The company attributed this to a .1 percent increase in revenue and a 4.2 percent increase in operating expenses. CubeSmart annual revenue for 2017 was $0.559B, a 9.59% increase from 2016. CubeSmart - Rate increase right after they lured me in w/promotional pricing Oct 31, 2020 @ Pissed Consumer CubeSmart… Unit Size. Call Us. Reviews on Trustpilot are mixed, but also focus on specific storage facilities. 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. If you wish that your prior post be removed, submit a notarized letter. Would You Like to Convert It Into Review? You will be automatically registered on our site. Amenities. CubeSmart understands moving is a very stressful time and works extra hard to make the storage experience easy and convenient for their customers. 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. Skip To Main Content. You can try to reach review author by writing a comment to the review or try one of our business solutions. 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. If you haven’t been doing regular rent increases, the first one will be most jarring to your long-term renters. FINANCIAL BRIEF:: For the nine months ended 30 September 2020,CubeSmart revenues increased 5% to $500.4M.Net incomedecreased 3% to $123.3M. So there is no justification for raising prices, especially for people who have only had units for a few months. 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. 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. You will be able to edit the text before publishing. CubeSmart Cons: Do you have a sense of how long it would take to move those people back to … Review #681663 is a subjective opinion of to count towards your company rating, you can also leave a comment for this review. Performance rebounded across our portfolio, as strong demand trends drove record-high same-store occupancies … Find Storage Facilities Near: Enter Zip, City or State. “Over the last few months, we have faced unprecedented challenges and uncertainty. 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! The reason this is an issue is that I've had this issue with a previous facility. Yet they have raised my rates in under a year. I'm in the same boat. If you want your response Comment the review as CubeSmart verified representative. 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. 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. Review #1047824 is a subjective opinion of PissedConsumer681663. CubeSmart annual revenue for 2019 was $0.644B, a 7.69% increase from 2018. Related: CubeSmart - Bad Business This year they INCREASED it by $20.00 a month! Map. 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. 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. Mandatory insurance, Pricing. Company Participants. CubeSmart has long stood for, and has been widely recognized for, exceptional customer service. 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. CubeSmart - Yearly rental increases Oct 19, 2019 @ Pissed Consumer Reason of review: The largest self-storage REITs saw average rates increase about 12 percent in October, too, according to Green Street. By: CubeSmart via GlobeNewswire News Releases. They increase the rent 25% every 3-6 months. MALVERN, Pa., Feb. 21, 2019 -- CubeSmart (NYSE: CUBE) today announced its operating results for the three and twelve months ended December 31, 2018. 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. 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. Product or Service Mentioned: What a rip off. We also offer a variety of moving supplies like tape, boxes, and bubble wrap.
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