U-Haul® is taking a direct swing at its national competitors in the New Jersey self-storage market, announcing a new 1-Year Price Lock Guarantee designed to eliminate “bait-and-switch” pricing tactics.
The move comes as Garden State residents face a tightening economy and rising living costs. U-Haul’s new policy, available at more than 2,100 company-owned facilities across the U.S. and Canada—including numerous high-traffic locations throughout New Jersey—allows new customers to lock in their monthly rental rate for a full year with no increases, no administrative fees, and no deposits.
The announcement serves as a pointed critique of industry giants. U-Haul CEO Joe Shoen specifically called out competitors for advertising low introductory rates only to implement frequent price hikes shortly after a customer moves in.
“I’m fed up with the major players in our industry thinking the profitable strategy is to offer low, misleading introductory rates and then jack up the prices… sometimes before customers move in,” Shoen said. “It angers customers and dissolves trust in the entire industry.”
The push for price transparency follows significant legal pushback against predatory practices in the region. On Feb. 10, the New York City Department of Consumer and Worker Protection filed a lawsuit against Extra Space for allegedly exploiting customers through deceptive pricing—a sentiment U-Haul is now leveraging to win over budget-conscious families in the tri-state area.
In 2025, the Self-Storage Almanac noted that aggressive rent increases caused national competitors to see drops in occupancy as long-term tenants fled. U-Haul is betting that New Jersey renters, known for being savvy consumers, will prioritize “cost certainty” over a flashy, short-term discount.
