The Mamdani administration has filed a lawsuit against Extra Space Storage, a self-storage company, alleging deceptive practices including exorbitant and unpredictable rent increases, and poor facility conditions. The suit seeks $5 million in penalties and aims to secure restitution for affected customers, highlighting a broader issue within the self-storage industry in New York City. This legal action follows recent city council laws designed to regulate the industry, requiring 60 days’ notice for rent increases and implementing a licensing system to deter bad operators.
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Mamdani Takes on the Self-Storage Wild West
The Mamdani administration has filed a lawsuit against Extra Space Storage, a self-storage company, alleging deceptive practices including exorbitant and unpredictable rent increases, and poor facility conditions. The suit seeks $5 million in penalties and aims to secure restitution for affected customers, highlighting a broader issue within the self-storage industry in New York City. This legal action follows recent city council laws designed to regulate the industry, requiring 60 days’ notice for rent increases and implementing a licensing system to deter bad operators.