Rent-to-own News - Texas rental dealers gather for TARA's 27th

TARA President William McCrae presents the association's 2010 Most Improved State Association Award to TARA Executive Director Scott Pospisil.

Rental Dealers from across Texas are in Dallas for The Texas Association of Rental Agencies' 27th Annual Convention and Southwest Buying Show -- a two day event featuring networking events, state and national legislative updates and a trade show featuring top industry exhibitors.

 Dealers kicked off TARA Convention at the InterContinental Hotel Sunday afternoon with a welcome from TARA President William McCrae of Buzz's Lease Purchase and Sales. McCrae and later, TARA Executive Director Scott Pospisil, outlined a year of legislative challenges faces rent to own dealers as the state comes to terms with an $18 billion budget deficit.

"As a result of this deficit, the Legislature will almost certainly have to increase taxes and fees to meet its constitutional obligation of balancing the budget," Pospisil said. "Your state is broke and that's going to affect you dramatically."

In addition, the Texas State Comptroller has taken the position the .5 percent gross margins tax rate does not apply to RTO operators and that the full one percent tax rate does apply. The adjustment could cost the industry millions in tax dollars and TARA is pursing the issue in the courts.

TARA welcomes Steve Moore with Jackson Walker, LLP who will address the issue further with dealers Monday.

With the state budget deficit, the Texas Legislature will face some tough decisions next January and TARA members will receive an update on the top Texas House, Senate, and statewide races, and how these elections could dramatically affect Texas businesses.

APRO Executive Director Bill Keese kicks off part two of TARA's Annual Membership Meeting with a national and state legislative update Monday morning.

Ed Winn, APRO legal counsel and longtime RTO legal expert, will update members on the legal issues currently facing Texas dealers, including collection issues, bedbugs, the Consumer Financial Protection Bureau, automatic shut-off devices, the Texas Department of Licensing and Regulation, new anti-RTO initiatives around the country, and other RTO related matters.

In addition, the association's plan for representing the industry in the 82nd Texas Legislature will be presented. This will include a briefing on what members will be asked to do before and during the session with their state representatives and senators.

The Southwest Buying Show Floor opens Monday from 11:30 a.m. - 3 p.m.

Participating vendors include: APRO, Benefit Marketing Solutions, Central File Marketing, ClassicFlame/Tresanti, dPi Teleconnect, D & H Distributing, Dickson Furniture, DSI Systems, GE Appliances, High Touch, Nalley Motor Trucks, Nationwide Southwest/Rent Direct Nationwide, Noah's Manufacturing, O'Rourke Sales Company, SED International, Silko Radio & Electronics, TRIB Group, Ltd., Welton USA, Whirlpool, Woot Wholesale.

Major event sponsors include: Nationwide Southwest/RentDirect Nationwide and TRIB Group.