What is APRO? - Rent-to-own Industry Timeline

Rent-to-own Industry 1980-1989

July 1980

In Dallas, the first meeting of rental dealers is held

November 1980

Incorporation of the Association of Progressive Rental Dealers Association; Ed Winn III appointed executive director of APRO

March 1981

First issue of The APROach is published

July 1981

First annual APRO Convention and Trade Show is held in Dallas

April 1983

First federal RTO bill introduced

July 1983

First federal public hearings held on the industry in Washington, D.C.

November 1983

Rent-A-Center becomes the first rent-to-own company to go public on Wall Street

1984

Connecticut forms first state rental dealer association

1984

Michigan first state to adopt rental-purchase statute; U.S. Senate passes bill defining transaction as a lease

November 1984

Progressive Rentals debuts, replacing The APROach

1988

Pennsylvania becomes only state to clearly define RTO transactions as credit sales

1989

APRO creates Legislative Defense Initiative Fund during summer convention

First annual Rental Advertising Excellence award program

Rent-to-own Industry 1990-1999

1990
APRO appoints Tax and Accounting Committee, headed by Wayne Chambers

March 1993
House Banking Committee Chairman Henry Gonzalez holds investigative hearings on the RTO industry

April 14, 1993
The APRO Task Force is created to organize grassroots legislative program, prepare for the industry's pending tax issues and respond to the growing media scrutiny. The Task Force hosts its first annual federal Legislative Conference

June 1993
APRO creates its first Public Relations Committee, chaired by Bob Simons

September 22, 1993
The Wall Street Journal headlines RTO with a damaging article

September 27, 1993
House Banking Committee Chairman Henry Gonzalez introduces federal legislation to classify RTO transaction as a sale—a bill that, if passed, would have crippled the RTO industry

October 1993
The Public Interest Research Group holds a press conference entitled "RTO = Rip Them Off," setting off a flurry of negative media coverage for the RTO industry throughout the country

March 22, 1994
The Consumer Rental-Purchase Agreement Act by Sen. Richard Shelby is introduced in the Senate. The bill ends up with 5 co-sponsors.

August 1994
IRS launches national RTO industry audit on sale vs. lease issue

May 1995
Sale vs. lease issue resolved with the IRS, saving the industry more than $1 billion in back taxes

April 2, 1996
APRO releases its first commercial, "Gus," for member use

June 1996
Pennsylvania reverses sale statute and defines RTO as a lease

April 4, 1997
The first public perception of the industry by consumers survey is conducted, Into the Consumer's Mind, Into the Future

June 4, 1997
PIRG releases a new report, Don’t Rent to Own. Media actually does a better job trying to cover both sides of the issue

June 24, 1997
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House after J.C. Watts moves off Banking Committee. The bill ends up with 27 co-sponsors.

June 1997
1997 Taxpayers Relief Act passes; includes provision defining RTO as a lease for tax purposes

August 1997
The “Image” and “Couple” commercial spots are released to APRO members

September 27, 1997
ABC’s 20/20 and CBS’s Public Eye contact APRO simultaneously for exposé features on the industry

November 1, 1997
APRO forges partnership with Habitat for Humanity International as a corporate sponsor

November 28, 1997
ABC’s 20/20 airs its report. Negative publicity fallout is minimal

February 25, 1998
NBC Nightly News with Tom Brokaw features RTO in its “Fleecing of America" segment; generates minimal negative publicity

May 6, 1998
The FTC issues a request for proposal to conduct a study on RTO customers

June 20, 1998
APRO donates 100 stoves for the Habitat for Humanity Jimmy Carter build in Houston

January 15, 1999
APRO conducts its second customer statistical survey

May 13, 1999
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 51 co-sponsors.

Rent-to-own Industry 2000-Present

2000
APRO leads successful effort to stop attempt to repeal Kentucky and New York statutes

April 13, 2000
The FTC releases a favorable study on RTO customers

June 18-25, 2000
APRO members join together to build the Association's first Habitat for Humanity home in Austin

July 2000
APRO purchases its first building as headquarters for the Association in Austin, Texas

August 2000
APRO awards its first Employee of the Year, Eric Ison from Showplace Lease/Purchase in BelleFontaine, OH and APRO Customer of the Year Maria Magdalena Estrada from M Rentals in El Paso, TX. They are honored at the APRO convention in Nashville, TN.

March 2001
APRO conducts its first employee attitude survey

May 3, 2001
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 83 co-sponsors.

June 2001
APRO raises $15,000 for education scholarships during the Congressional Black Caucus Spouses event 

July 12, 2001
House Financial Services committee holds a hearing on RTO-industry-supported legislation

August 7, 2001
APRO Employee of the Year, Josef Warren from New Image Rent-to-own in Colorado Springs, CO and APRO Customer of the Year James & Brenda Atchison from Rent One in Mr. Vernon, IL are honored at the APRO convention in Las Vegas, NV.

October 2001
APRO debuts Rental Training Online education program

November 2001
The Journal of Consumer Affairs publishes “A Reconsideration of Rent-to-Own” by professors Ray Jackson and Mike Anderson. After decades of being accused as an ill-advised financial option, RTO’s no-obligation value is touted

November 28, 2001
The RTO bill passes subcommittee with a 24-4 vote. The mark-up receives no significant press

June 26-27, 2002
The RTO bill passes full committee with a 29-9 vote. The mark-up receives no significant press

August 2002
APRO Employee of the Year, Ronnie Williams from RentWay in Harrisburg, IL and APRO Customer of the Year Norma Burgenger from Stanley's in Vinita, OK are honored at the APRO convention in Las Vegas, NV.

September 17, 2002
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 8 co-sponsors.

September 18, 2002
RTO bill passes the full House of Representatives by a vote of 215 to 201. The bill dies in the Senate, but leaves the industry with momentum

January 2003
APRO’s print newsletter, View, ceases publication and is replaced by APRO’s first online publication, Rental Viewpoint

February 27, 2003
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 95 co-sponsors.

April 10, 2003
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 27 co-sponsors.

May 2003
APRO launches its Scholarship Foundation

June 21, 2003
RTO industry founding father Ernie Talley dies

August 2003
APRO Employee of the Year, Anthony Robinson from Rent-A-Center in Lakewood, CO and APRO Customer of the Year Donna Brown from Baber's in Tupelo, MS are honored at the APRO convention in Reno, NV.

October 2003
The Wall Street Journal publishes two fairly favorable articles on the RTO industry and its struggle for definition

December 20, 2003
APRO, through Rep. Larry LaRocco, introduces a federal bill to define the RTO transaction as a lease. The Consumer Rental-Purchase Agreement Act by Rep. Larry LaRocco ends up with 53 co-sponsors.

March 2004
Follow-up to 1997 public image study findings are presented at 2004 Mid-Year Conference

May 2004
APRO conducts third RTO Customer Satisfaction Survey

June 22, 2004
Senate Banking Committee holds hearing on regulatory relief issues, including rental-purchase language as part of the committee bill draft

August 2004
APRO debuts buying show during annual convention in Tampa, Florida; buyers place orders for more than $13.2 million

APRO Employee of the Year, Jody Katz from Buddy's Home Furnishings in Tampa, FL and APRO Customer of the Year Patrick & Marianna Head from Baber's in Tupelo, MS are honored at the APRO convention in Tampa, FL.

September 2004
Ohio Rental Dealers Association holds its first Midwest RTO Expo, a regional trade show

March 11, 2005
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 19 co-sponsors.

April 14, 2005
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 40 co-sponsors.

August 2005
APRO celebrates its 25th anniversary at its annual convention and trade show.

APRO Employee of the Year, Paul Russell from Blue Ribbon Rentals in St. Clarisville, OH and APRO Customer of the Year Johnie Bradford from Baber's in Columbus, MS are honored at the APRO convention in Las Vegas, NV.

September 2005
APRO collects and distributes $158,411 to 159 APRO member employees who were displaced by hurricanes Katrina, Rita and Wilma

December 20, 2005
The Consumer Rental-Purchase Agreement Act by Rep. J.C. Watts is introduced in the House. The bill ends up with 36 co-sponsors.

March 2006
APRO launches new Web site, RTOHQ

New Jersey Supreme Court rules against RAC and rent-to-own. Damages still undecided while RAC appeals.

Wisconsin Governor vetoes WI state rent-to-own legislation that recently passed both houses.

April 2006
APRO releases first published media analysis report after one year’s worth of media coverage documented through web searches. Business news dominates the industry and negative coverage outweighs positive coverage 2 to 1.

May 2006
The U.S. Regulatory Relief Act passes the U.S. Senate Banking Committee without rent-to-own legislation.

The Buffalo News begins a series of negative articles on rent-to-own and New York RTO legislation.

June 2006
APRO’s Government Relations and Public Relations crises of 1993-1997 is featured as a college textbook case study in political, media and public relations crisis management in “Cases in Business Ethics.”

APRO launches permanent RTO [Relief To Our] Employees Disaster Relief Fund. The fund was formalized after last season’s destructive hurricanes and APRO’s successful response in assisting APRO employees’ recovery from the disasters.

July 2006
The Brookings Institution releases a report entitled “From Poverty, Opportunity: Putting the Market to Work for Lower Income Families” which included negative reports and criticisms of the RTO industry that received dozens of media coverage in major cities throughout the U.S.

August 2006
Rent-A-Center’s acquisition of RentWay continues RAC’s dominance as the largest rent-to-own chain in rent-to-own history.

The Department of Defense releases a report criticizing predatory lending practices that includes rent-to-own. Dozens of media outlets pick the story up and the Senate Banking Committee holds a hearing on the report but focuses on payday loans. The DOD report is the third national news medium negatively featuring rent-to-own in the past year.

The Buffalo News continues its press criticism of rent-to-own and other industries that culminate into two public hearings by the state legislature, public criticisms by statewide political candidates and the announcement of the Renters Right Act of 2006 by U.S. Senator Charles Schumer (D-NY).

September 2006
Rent One’s Murray Beck from Mt. Vernon, IL is honored as 2006 APRO Employee of the Year at APRO's convention in Orlando.

October 2006
U.S. Senator Charles Schumer officially introduces the Rent-to-Own Reform Act of 2006. The bill is detrimental to the RTO industry and Schumer uses the bill for television press coverage throughout New York and beyond. The bill is referred to the U.S. Banking Committee.

November 2006
Rent-to-own settles with the California Attorney General’s office that results in the toughest price control state legislation in the country.

The Democrats take control of both the U.S. House and Senate with many of RTO’s congressional critics finding themselves with significant power. Not only does RTO lose much of the positive congressional momentum created in the past eight years but has created a potentially hostile congressional climate not seen since the 1993 investigative hearings by the U.S. House Banking Committee.

CREDCO, credit scoring system, issues a press release stating they will use rent-to-own payments as a part of their new credit scoring system for home loans.

March 28, 2007
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate

March 29, 2007
The Consumer Rental-Purchase Agreement Act by Rep. William Lacy Clay is introduced in the House. The bill sponsor changes due to the Democratic change of power in the House.

April 2007
The El Paso Times cites rent-to-own as the wisest transaction for musical instruments.

May 2007
Rent-A-Center settles the New Jersey court case for $109 million.

FICO, the nation's largest and most popular credit scoring system, issues a press release stating they will use rent-to-own payments as a part of their new credit scoring system for home loans.

May 25, 2007
U.S. Senator Charles Schumer introduces the Rent-to-Own Reform Act of 2007. The bill is detrimental to the RTO industry and Schumer uses the bill for television press coverage throughout New York and beyond.

July 2007
The University of Clemson releases a sociological report study that cites rent-to-own serving a need to the Asset Limited Income Constrained (ALIC) consumer in America.

September 2007
APRO Employee of the Year, Jonathan Brown from BestWay in Tappahannock, VA is honored at the APRO convention in Reno, NV.