Exhibit 31.2


                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John Reyes certify that:

1. I have  reviewed  this  quarterly  report  on  Form  10-Q of  Public  Storage
   Properties V, Ltd.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
   statement of a material  fact or omit to state a material  fact  necessary to
   make the  statements  made,  in light of the  circumstances  under which such
   statements  were made, not  misleading  with respect to the period covered by
   this report;

3. Based  on  my  knowledge,  the  financial  statements,  and  other  financial
   information included in this report,  fairly present in all material respects
   the  financial  condition,  results  of  operations  and  cash  flows  of the
   registrant as of, and for, the periods presented in this report;

4. The  registrant's  other  certifying  officers  and  I  are  responsible  for
   establishing and maintaining  disclosure  controls and procedures (as defined
   in Exchange Act Rules  13a-15(e)  and  15d-15(e))  and internal  control over
   financial  reporting  (as defined in the  Exchange  Act Rules  13a-15(f)  and
   15d-15(f)) for the registrant and we have:

   a)  designed  such  disclosure  controls  and  procedures,   or  caused  such
       disclosure  controls and procedures to be designed under our supervision,
       to ensure that material information relating to the registrant, including
       its consolidated subsidiaries, is made known to us by others within those
       entities,  particularly  during the period in which this  report is being
       prepared;

   b)  designed such internal control over financial  reporting,  or caused such
       internal  control  over  financial  reporting  to be  designed  under our
       supervision, to provide reasonable assurance regarding the reliability of
       financial  reporting  and the  preparation  of financial  statements  for
       external  purposes  in  accordance  with  generally  accepted  accounting
       principles;

   c)  evaluated the effectiveness of the registrant's  disclosure  controls and
       procedures   and   presented  in  this  report   conclusions   about  the
       effectiveness of the disclosure  controls and procedures as of the end of
       the period covered by this report based on such evaluation;

   d)  disclosed in this report any change in the registrant's  internal control
       over  financial  reporting  that  occurred the  registrant's  most recent
       fiscal quarter (the registrant's  fourth fiscal quarter in the case of an
       annual report) that has materially  affected,  or is reasonably likely to
       materially  affect,  the  registrant's  internal  control over  financial
       reporting; and

5. The registrant's other certifying officers and I have disclosed, based on our
   most recent evaluation of internal control over financial  reporting,  to the
   registrant's  auditors  and the  audit  committee  of  registrant's  board of
   directors (or person performing the equivalent functions):

   c)  all  significant  deficiencies  and material  weaknesses in the design or
       operation  of  internal  control  over  financial   reporting  which  are
       reasonably likely to adversely affect the registrant's ability to record,
       process, summarize and report financial information; and

   d)  any fraud,  whether or not material,  that  involves  management or other
       employees  who  have a  significant  role  in the  registrant's  internal
       control over financial reporting.

/s/ John  Reyes
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Name:  John Reyes
Title: Chief Financial Officer of Public Storage, Inc, Corporate General Partner
Date:  August 13, 2004