Before you schedule your 2011 Legislative Conference meetings, please take a moment and view the APRO Master Meetings Schedule.
(For technical purposes only one RTO contact will be listed for each meeting)
*last updated May 4, 2011, 9:00 am Central
 

If you would like to join one of the meetings that have already been scheduled, please contact Richard May at 800/204-2776, ext. 104.

If you have a meeting scheduled and do not see it on this list, please submit it via our online meeting confirmation form.

State Rent-to-Own Legislative History

In 1984, Michigan lawmakers, rent-to-own industry owners and consumer groups agreed to balanced legislation that would foster rent-to-own industry security with specific rent-to-own consumer protections. Since then the mutual agreement of balanced legislation has successfully created 47 state rent-to-own laws.

Ninety-five percent of the U.S. population living in 47 states are now subject to state laws defining the rent-to-own transaction as a lease. Listed below are the states with rent-to-own laws and the years in which they were enacted:

    •     Alabama (1995)
    •     Alaska (1999)
    •     Arizona (1995)
    •     Arkansas (1987)
    •     California (1994)
    •     Colorado (1990)
    •     Connecticut (1991)
    •     Delaware (1991)
    •     Florida (1988)
    •     Georgia (1985)
    •     Guam (1998)
    •     Hawaii (1997)
    •     Idaho (1993)
    •     Illinois (1987)
    •     Indiana (1987)
    •     Iowa (1987)
    •     Kansas (1991)
    •     Kentucky (1990)
    •     Louisiana (1991)
    •     Maine (1992)
    •     Maryland (1989)
    •     Massachusetts (1986)
    •     Michigan (1984)
    •     Minnesota (1990)
    •     Mississippi (1995)
    •     Missouri (1988)
    •     Montana (2001)
    •     Nebraska (1989)
    •     Nevada (1989)
    •     New Hampshire (1994)
    •     New Mexico (1995)
    •     New York (1986)
    •     North Dakota (1993)
    •     Ohio (1988)
    •     Oklahoma (1988)
    •     Oregon (1993)
    •     Pennsylvania (1996)
    •     Puerto Rico (1998)
    •     Rhode Island (1989)
    •     South Carolina (1985)
    •     South Dakota (1991)
    •     Tennessee (1987)
    •     Texas (1985)
    •     Utah (1993)
    •     Vermont (1994)
    •     Virginia (1988)
    •     Washington (1992)

    •     Washington, D.C. (2002)
    •     West Virginia (1993)
    •     Wyoming (1996)

In tough economic times, rent-to-own can be a viable means for millions of American consumers to acquire appliances, furniture, electronics and computers, according to an article on MSNBC.

(MSNBC – original run date 02/19/2009)

Especially at a time when consumer credit is scarce and when existing credit lines are being cut, the rent to own transaction can be especially useful to the credit-challenged because it never incurs debt or requires a credit check. Additionally, the customer is never obligated to make the next payment and can return the product at any time for any reason.

However, the transaction may not be right for everyone and customers need to use the option to their best financial advantage. Listed below are some rent-to-own tips for consumers.

1) Shop around. The rent to own industry is very competitive and will bend over backwards to attain your business, so use this fact to your advantage.

2) Assess your payment options. Use the 90-days-same-as-cash option, if possible. If you make the payments according to contract, in 90 days you’ll have a refrigerator — or other home product — at an affordable price in the market that is significantly cheaper than paying over time with a credit card.

3) If you cannot fulfill the three-month option, choose the rent-to-own plan that’s right for you. The final price will still be less when payments are fewer. Some rent to own companies offer 180-days-same-as-cash plans.

4) Exercise the early-purchase option. The early-purchase option can reduce the total rent-to-own price by 50 percent of remaining payments.

5) It’s about flexibility, but "least/shortest" is cheapest. Choose the least number of payments over time to save considerable money. Rent-to-own stores offer the flexibility of choosing your own payment plan.

6) Ask about payment-reinstatement rights. Make sure the rent-to-own company offers a payment-reinstatement option. If you return a product for any reason then at a later date you can reinstate your previous payment history toward final ownership of the product. Most state rent-to-own laws mandate a payment-reinstatement option and some stores offer a "lifetime payment reinstatement" option.

The Association of Progressive Rental Organizations (APRO) has spent more than 25 years improving rent to own business practices to become one of the most vibrant consumer industries in America. For more information on rent to own, visit www.rtohq.org or contact APRO Public Affairs Director Richard May at 800.204.2776, ext. 104.

If you have never met with or contacted an elected official then you may be intimidated by the process and politics of the U.S. Congress. But, in reality, the U.S. Congress is there to listen and help you. You will quickly find the political process to be easy and rewarding because you are there to talk about passing federal legislation that will secure your job, your business and your family. Most likely you will meet or communicate with Congressional staff which is very important as they will advise the Congress person whether to support rent-to-own or not. Here are the steps and tools to a successful meeting and grassroots communication with your Congress members.  

APRO PAC supports candidates for political office who have demonstrated their support of the rent-to-own industry. Only qualified candidates for the U.S. Senate and the U.S. House of Representatives are eligible to receive these funds. APRO PAC is dedicated to the protection and preservation of the rent-to-own industry.

What is APRO PAC?

APRO PAC was organized by the Association of Progressive Rental Organizations to solicit and accept voluntary individual contributions from eligible rent-to-own industry owners and employees. These contributions are then directed to candidates seeking federal office whose political philosophies and positions are compatible with the interests of APRO members.

Who is eligible to receive APRO PAC financial support?

Only qualified candidates for the U.S. Senate and the U.S. House of Representatives are eligible to receive funds from APRO PAC.

Who decides which candidates will get APRO PAC support?

The APRO PAC board of directors will evaluate candidates to determine which ones will be supported. All board decisions will be shared with APRO PAC members.

Does party affiliation influence how contributions are made?

No. APRO PAC is a voluntary, bipartisan political association that is independent of any political party. Our only concern is that the views and positions of the individual candidates are consistent with the interests of APRO’s membership.

Are my contributions tax deductible?

No. Under the federal tax laws, political contributions are no longer eligible for a tax credit.

How much can I contribute?

Consistent with the practice of many corporate PAC’s, APRO PAC has established a suggested guideline of contributing 0.5 percent to 1.5 percent of your salary depending on your job and your financial situation. However, you are free to contribute more or less as you desire, up to the yearly maximum of $5,000 per individual allowed by federal law. Federal Election Commission rules only allow APRO PAC to accept personal contributions, such as personal checks or credit cards. We can also accept checks from non-incorporated companies, but not from corporations.

May I designate a particular candidate to receive my contribution?

Yes, but we ask you not to “earmark” your contribution. APRO PAC is not intended as a substitute for an individual’s contributions to specific candidates. Rather, APRO PAC provides the rent-to-own industry an opportunity to pool its financial resources and thus increase the strength of APRO members in the political process. However, all contributors are encouraged to make their candidate recommendations known to the APRO PAC board of directors.

PAC and Team APRO Support Rent-to-Own

APRO’s goal is to secure federal legislation that properly defines rent-to-own. Contributions to APRO’s Political Action Committee and Team APRO allow APRO to continue working as the voice of the rent-to-own industry for the passage of such legislation. APRO would like to recognize the following contributors to the PAC and Team APRO funds. The efforts and contributions of these members are responsible for the success the rent-to-own industry enjoys today.

If you would like to join fellow rent-to-own dealers in the pursuit of successful passage of legislation that protects the right of dealers to conduct business, please click below to download a rental dealer APRO PAC pledge form or rent-to-own vendor Team APRO pledge form.

• Download rent-to-own dealer APRO PAC pledge form (PDF)
• Download rent-to-own vendor Team APRO pledge form (PDF)

For more information regarding APRO PAC and Team APRO, please contact Jeannie Hutchison by e-mail or by calling 800/204-2776, ext. 108.

APRO PAC and TEAM APRO 2010-11 CONTRIBUTORS

APRO PAC contributions

Platinum Plus contributors ($5,000 PAC contribution and five $1,000 campaign contributions) 

• Robert O. and Lou Briley
• Larry and Sharon Carrico

Platinum contributors ($5,000 PAC contribution)

• Tiger John and Ann Cleek
• David Kraemer
• RTO Inc. (Richard Rose and Jeff Loeb)

 Gold Plus contributors ($2,500 PAC contribution and five $500 campaign contributions) 

• Gary Ferriman 

 Gold contributors ($2,500 PAC contribution) 

• Spencer Smith
• Charles Smithgall III  

Silver Plus contributors ($1,500 PAC contribution and three $500 campaign contributions)

• Gary Romine  

Silver contributors ($1,500 PAC contribution) 

• Richard and Anna Cross
• David Edwards
• Jess Fisher
• Lyn and Natalie Leach
• Casey Pristou
• Rhonda Weatherford 

Bronze Plus contributors ($750 PAC contribution and one $750 campaign contribution)

• Chris Caprio
• Geron Vail 

Bronze contributors ($750 PAC contribution)  

• Chris Bolin 
• Robert Clark
• Bryan and Jennifer Collins, Bryce Company 
• Richard and Miriam Eichlin
• John and Betty Miller
• Herb Weisblatt

Supporter contributors ($250–$500 PAC contribution)   

• Dennis Adams
• A.J. Arthus
• Dan Ballard
• Thomas Burkhart
• Brian Haag
• David Kaye, Benefit Marketing Solutions
• John and Barbara Keller
• Jeffery Klopp
• Ted Krygoske 
• Anthony and Colette Longin 
• Mark Martin
• Pam May 
• Raymond Patuel 
• Rodney Reddell 
• Marshall Rogers Sr.
• Bill Spangenberg
• Hank Taylor
• Jeffrey Weinreb

Team APRO contributions

Platinum Plus contributors ($5,000 Team APRO contribution and one $1,000 campaign contibution)

• Dan Cole
• Shannon and Cynthia Baber Strunk

Gold contributors ($2,500 Team APRO contribution)

• Curtis Bannigan, Whirlpool Corporation
• Chris Kale
• William McCrae and Paul Cowan

Silver Plus contributors ($1,500 Team APRO contribution and a $250 campaign contribution)

• Jeannie Mendell, Serta   

Silver contributors ($1,500 Team APRO contribution)

• William Wendell

Bronze Plus contributors ($750 Team APRO contribution and a $100 campaign contribution)  

• Rick Delcamp, RHR Adpro Advertising
• Dan and Susan Matthews

 Bronze contributors ($750 Team APRO contribution) 

•  Larry Furiani, Coaster Company

Supporter contributors ($500–$749 Team APRO contribution) 

• Chris Kale 
• Wallace Vernon
• Bill White, Whiteco Commercial Funding, LP

For more information…

• Contact Jeannie Hutchison by e-mail or by calling 800/204-2776, ext. 108, if you need additional information on APRO’s Political Action Committee.
• For general political action committee guidelines from the Federal Election Commission, click here.

H.R. 1588 and S. 881 – The Consumer Rental Purchase Agreement Act of 2011 provides consumer disclosures while recognizing rent-to-own as a lease in the marketplace. The bill mirrors 47 state rent-to-own laws and offers the proper balance between consumer protections and small business competition. Below are the co-sponsors for this session’s Consumer Rental Purchase Agreement Acts.

H.R. 1588 by Rep. Francisco "Quico" Canseco (R-TX, district 23) co-sponsors:

There are 100 co-sponsors (alphabetical 2/9/2012):

Gary Ackerman (Democrat – New York, district 5)

Todd Akin (Republican – Missouri, district 2)

Rodney Alexander (Republican – Louisiana, district 5)

Steve Austria (Republican – Ohio district 7)

Joe Baca (Democrat – California, district 43)

Rob Bishop (Republican – Utah, district 1)

Marsha Blackburn (Republican – Tennessee, district 7)

Diane Black (Republican – Tennessee, district 6)

Jo Bonner (Republican – Alabama, district 1)

Leonard Boswell (Democrat – Iowa, district 3)

Charles Boustany (Republican – Louisiana, district 7)

Michael Burgess (Republican – Texas, district 26)

Russ Carnahan (Democrat – Missouri, district 3)

Kathy Castor (Democrat – Florida, district 11)

William “Lacy” Clay (Democrat – Missouri, district 1)

Emanuel Cleaver (Democrat – Missouri, district 5)

Howard Coble (Republican – North Carolina, district 6)

Michael Conaway (Republican – Texas, district 11)
Jerry Costello (Democrat – Illinois, district 12)

Rick Crawford (Republican – Arkansas, district 1)

Danny Davis (Democrat – Illinois, district 7)

Geoff Davis (Republican – Kentucky, district 4)

Scott DesJarlais (Republican –Tennessee, district 4)

Mario Diaz-Balart (Republican – Florida, district 25)

Robert Dold (Republican – Illinois, district 10)

John Duncan (Republican – Tennessee, district 2)
Jo Ann Emerson (Republican – Missouri, district

Blake Farenthold (Republican – Texas, district 27)

Stephen Fincher (Republican – Tennessee, district

Chuck Fleischmann (Republican – Tennessee, district 3)

Virginia Foxx (Republican – North Carolina, district 5)

Phil Gingrey (Republican – Georgia, district 11)

Louie Gohmert (Republican – Texas, district 1)
Bob Goodlatte (Republican – Virginia, district 6)

Sam Graves (Republican – Missouri, district 6)

Tim Griffin (Republican – Arkansas, district 2)

Brett Guthrie (Republican – Kentucky, district 2)
Ralph Hall (Republican – Texas, district 4)

Greg Harper (Republican – Mississippi, district 3)

Vicky Hartzler (Republican – Missouri, district 4)

Alcee L. Hastings (Democrat – Florida, district 23)

Jeb Hensarling (Republican – Texas, district 5)

Ruben Hinojosa (Democrat – Texas, district 15)

Tim Holden (Democrat – Pennsylvania, district 17)

Robert Hurt (Republican – Virginia, district 5)
Lynn Jenkins (Republican – Kansas, district 2)

Bill Johnson (Republican – Ohio, district 6)

Eddie Bernice Johnson (Democrat – Texas, district 30)
Sam Johnson (Republican – Texas, district 3)

Tim Johnson (Republican – Illinois, district 15)
Walter B. Jones Jr. (Republican – North Carolina, district 3)

Jim Jordan (Republican – Ohio, district 4)

Steve King (Republican – Iowa, district 5)

Jack Kingston (Republican – Georgia, district 1)

Adam Kinzinger (Republican – Illinois, district 11)

John Kline (Republican – Minnesota, district 2)

Steve LaTourette (Republican – Ohio, district 14)

Tom Latham (Republican – Iowa, district 4)

Frank Lucas (Republican – Oklahoma, district 3)
Blaine Luetkemeyer (Republican – Missouri, district 9)

Donald Manzullo (Republican – Illinois, district 16)
Kenny Marchant (Republican – Texas, district 24)

Patrick McHenry (Republican – North Carolina, district 10)

Mike McIntyre (Democrat – North Carolina, district 7)

Cathy McMorris Rodgers (Republican, district 5)

Gregory W. Meeks (Democrat – New York, district 6)

Sue Myrick (Republican – North Carolina, district 9)
Randy Neugebauer (Republican – Texas, district 19)

Richard Nugent (Republican – Florida, district 5)

Alan Nunnelee (Republican – Mississippi, district 1)

Pete Olson (Republican – Texas, district 22)

Steven Palazzo (Republican – Mississippi, district 4)
Todd Russell Platts (Republican – Pennsylvania, district 19)

David Roe (Republican – Texas, district 2)

Harold Rogers (Republican – Kentucky, district 5)
Mike Rogers (Republican – Alabama, district 3)
Mike Ross (Democrat – Arkansas, district 4)

Ed Royce (Republican – California, district 40)

Bobby Schilling (Republican – Illinois, district 17)

Aaron Schock (Republican – Illinois, district 18)

Austin Scott (Republican – Georgia, district

David Scott (Democrat – Georgia, district 13)
Pete Sessions (Republican – Texas, district 32)
John Shimkus (Republican – Illinois, district 19)

Bill Shuster (Democrat – Pennsylvania, district 9)

Lamar Smith (Republican – Texas, district 21)

Steve Stivers (Republican – Ohio, district 15)
Lee Terry (Republican – Nebraska, district 2)

Ed Townes (Democrat – New York, district 10)

Michael Turner (Republican – Ohio, district 3)

Lynn Westmoreland (Republican – Georgia, district 03)

Ed Whitfield (Republican – Kentucky, district 1)

Frederica Wilson (Democrat – Florida, district 17)

Joe Wilson (Republican – South Carolina, district 2)

Robert Wittman (Republican – Virginia, district 1)

Frank Wolf (Republican – Virginia, district 10)

Steve Womack (Republican – Arkansas, district 3)

For more information on APRO’s federal legislative effort, please contact APRO Public Affairs Director Richard May by e-mail or phone at 512/225-1051.

In chronological order…

The Federal Government and the Fringe Economy
By University of Houston Assistant Professor of Law Jim Hawkins

Published by the Chapman Law Review in Winter 2011.  The paper explores the Dodd-Frank Act’s creation of the Consumer Financial Protection Bureau and specifically assesses the Bureau’s new power to regulate alternative financial services providers like payday lenders, rent-to-own companies, pawnshops, and auto title lenders.

Click the link to the study.

Regulating on the fringe:  Reexamining the link between fringe banking and financial distress
By University of Houston Assistant Professor of Law Jim Hawkins

Published by the Indiana Law Journal Spring 2010. This Article represents the first attempt to uncover the relationship between fringe banking and financial distress by systematically analyzing the structure of fringe credit markets and characteristics of specific fringe credit transactions.

Click the link to the study.

Rent-to-own agreements: Customer characteristics and contract outcomes
By UMASS Finance Professor Dr. Michael H. Anderson and California Polytechnic State University Finance and Economics Professor Dr. Sanjiv Jaggia

Published in the Journal of Economics and Business in January 2008. The rent-to-own (RTO) industry is popular among low income consumers in part because it offers immediate access to merchandise along with the ability to cancel a transaction at any point without adverse consequence. This paper studies consumer use of RTO using a unique data base of more than 11,000 completed transactions originating between 2001 and 2004.

Click here to download this study.

Asset-Limited, Income-Constrained Consumers: A Macromarketing Perspective

By Clemson Sociology Professors Dr. James C. Witte and Dr. John D. Mittelstaedt

Published as a part of the "Macromarketing and Development: Building Bridges and Forging Alliances" study in Summer 2007. The purpose of this paper is to report on an ongoing study to understand the production, consumption and family life cycle of households that possess limited assets, and face limited prospects for income growth.  The paper applies a macromarketing perspective to understanding the family structure and consumption contexts of households with income between $25,000 and $45,000, with heads of households between 25 and 55 years of age.  Based on data from the US Bureau of Labor Statistics, preliminary findings suggest that these asset limited, income constrained (ALIC) households differ from higher and lower income households in terms of household structure, employment and consumption.

Click here to download this study.

Renting the Good Life

By Jim Hawkins, J.D. University of Texas School of Law

Published in the University School of Law and Economics Journal in Summer 2007. This article examines the theoretical justifications for regulating the rent-to-own industry against the backdrop with key participants in the market, recent empirical data about the industry, and the industry’s unique business model. 

Click here to download this study.

Managing High Risk in a Retail Operation: The Rent-to-Own Business

By UMASS Finance Professors Dr. Michael H. Anderson and Dr. Raymond Jackson

Published in the Southern Business and Economics Journal in Spring 2006. Many types of retail businesses, including rent-to-own (RTO), serve an economically disadvantaged, high financial risk segment of the population.  Using a large transactional database, the outcomes of rent-to-own contracts are examined to see whether the findings can be incorporated into a risk management system for a retailer serving these subprime clients.  The incidence of positive and negative outcomes of RTO contracts is examined from the retailer’s perspective using a variety of possible predictive variables.
 

Rent-to-Own Agreements: Purchases or Rentals?

By UMASS Finance Professors Dr. Michael H. Anderson and Dr. Raymond Jackson

Published in the Journal of Applied Business Research in spring 2003. The authors of this study examine the nature of rent-to-own agreements by using a unique data set of more than 350,000 transactions drawn from 100 rent-to-own stores in 46 states. The main result is that rent-to-own agreements are more frequently used for short-term needs rather than as a method of acquisition. Legislative and legal efforts to classify rent-to-own agreements as primarily installment contracts cannot be justified by their statistically proven pattern of use in the marketplace.

Click here to download this study.

A Reconsideration of Rent-to-Own

By UMASS Finance Professors Dr. Michael H. Anderson and Dr. Raymond Jackson

Published in the Journal of Consumer Affairs in winter 2001. This published academic paper is the introduction of Dr. Anderson and Dr. Jackson’s financial analysis that investigates the market value and customer pattern rent-to-own provides in the American economy.

Click here to download this study.

Corporate Social Responsibility: The Rent to Own Industry

By Rice University Business and Government Relations Professor Dr. Doug Schuler

Published as a chapter in the College Textbook "Cases in Business Ethics" in 2001. The chapter explores the public relations and political crises the rent-to-own industry faced in the early 1990s. The chapter uses contemporary conflicts for business and political science students to better understand the relationship between business, government entities, the media and the effects thereof.

FTC Survey of Rent-to-Own Customers

Published by the Federal Trade Commission’s Bureau of Economics between December 1998 and February 1999

More than 12,000 randomly selected U.S. households were surveyed, identifying more than 500 rent-to-own customers who were interviewed about their experience with rent-to-own stores. The survey is the first study on rent-to-own customers and the industry by a federal governmental body.

Click here to download this survey.

For more information on these studies, please contact APRO Public Affairs Director Richard May by e-mail or phone at 512/225-1051.

APRO: The Association of Progressive Rental Organizations— the official voice of the rent-to-own industry Founded in 1980, APRO is the national, non-profit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media, Wall Street and the public.

Federal:

Below is a summary of the major federal initiatives aimed at passage of a Consumer Rental-Purchase Agreement Act:

2009-2010 | 111th Congress: H.R. 1744 by Representative William Lacy Clay (D-MO) generated 126 co-sponsors and S. 738 by Sen. Mary Landrieu (D-LA) generated 20 co-sponsors.

2007-2008 | 110th Congress: H.R. 1767 by Representative William Lacy Clay (D-MO) generated 99 co-sponsors. S. 1012 by Senator Mary Landrieu (D-LA) generated 21 co-sponsors.

2005-2006 | 109th Congress: H.R. 1651 by Representative Walter Jones (R-NC) generated 40 co-sponsors. S. 603 by Senator Mary Landrieu (D-LA) generated 19 co-sponsors. The Senate Banking Committee considered bill inclusion into the Regulatory Relief Act and heard testimony regarding S. 603 on June 21, 2005.

2003-2004 | 108th Congress: H.R. 996 by Representative Walter Jones (R-NC) generated 95 co-sponsors. S. 884 by Senator Mary Landrieu (D-LA) generated 27 co-sponsors. The Senate Banking Committee heard testimony regarding S. 884 on June 22, 2004 as a part of a “Consideration of Regulatory Reform Proposals” hearing. Senator Landrieu testified.
 

2001-2002 | 107th Congress: H.R. 1701 by Representative Walters Jones (R-NC) generated 83 co-sponsors. S. 2947 by Senator Mary Landrieu (D-LA) generated eight co-sponsors. H.R. 1701 passed the House of Representatives (215 to 201) on September 18, 2002; passed the House Judiciary Committee (14 to 12); pased the House Financial Services Committee (29 to 9); and passed the House Financial Services Subcommittee (24 to 4).

1999-2000 | 106th Congress: H.R. 1634 by Representative Walter Jones (R-NC) generated 51 co-sponsors.

1997-1998 | 105th Congress: H.R. 2019 by Representative Walter Jones (R-NC) generated 27 co-sponsors.

The Taxpayers Relief Act of 1997 passed into law. The law included the three-year MACRs (Modified Accelerated Cost Recovery Schedule) as the depreciation method for rent-to-own agreements. The rent-to-own three-year MACRs amendment also codified the rent-to-own transaction as a lease in the Internal Revenue Service statutes.

1995-1996 | 104th Congress: H.R. 2820 by Representative J.C. Watts (R-OK) generated 36 co-sponsors. The Internal Revenue Service issued its Revenue Procedure ruling declaring the rent-to-own transaction as a lease in the IRS code.

1993-1994 | 103rd Congress: H.R. 2803 by Representative Larry LaRocco (D-ID) generated 53 co-sponsors; S. 1956 by Senator Richard Shelby (D-AL) generated five co-sponsors.

For more information on APRO’s federal legislative effort, please contact APRO Public Affairs Director Richard May by e-mail or phone at 512/225-1051.

State Rent-to-own Legislative History:

There are 47 state rent-to-own laws representing ninety-five percent of the U.S. population balancing consumer protections while defining the rent-to-own transaction as a lease. Listed below are the states with rent-to-own laws and the years in which they were enacted:

• Alabama (1985)
• Alaska (1999)
• Arizona (1995)
• Arkansas (1987)
• California (1994)
• Colorado (1990)
• Connecticut (1991)
• Delaware (1991)
• Florida (1988)
• Georgia (1985)
• Guam (1998)
• Hawaii (1997)
• Idaho (1993)
• Illinois (1987)
• Indiana (1987)
• Iowa (1987)
• Kansas (1991)
• Kentucky (1990)
• Louisiana (1991)
• Maine (1992)
• Maryland (1989)
• Massachusetts (1986)
• Michigan (1984)
• Minnesota (1990)
• Mississippi (1995)
• Missouri (1988)
• Montana (2001)
• Nebraska (1989)
• Nevada (1989)
• New Hampshire (1994)
• New Mexico (1995)
• New York (1986)
• North Dakota (1993)
• Ohio (1988)
• Oklahoma (1988)
• Oregon (1993)
• Pennsylvania (1996)
• Puerto Rico (1998)
• Rhode Island (1989)
• South Carolina (1985)
• South Dakota (1991)
• Tennessee (1987)
• Texas (1985)
• Utah (1993)
• Vermont (1994)
• Virginia (1988)
• Washington (1992)
• West Virginia (1993)
• Wyoming (1996)

APRO: The Association of Progressive Rental Organizations— the official voice of the rent-to-own industry Founded in 1980, APRO is the national, non-profit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media, Wall Street and the public.

For more information on rent-to-own state laws, please contact APRO Public Affairs Director Richard May by e-mail or phone at 512/225-1051.

The Truth about Rent-to-Own Profits

Rent-to-own’s supposedly “exorbitant” profits have been a primary point of criticism from the industry’s detractors—but the numbers show that RTO profits are in alignment with a competitive industry and fair profits. This chart represents a sampling of public companies and their profit margins as reported in their SEC public filings. Included are two public rent-to-own companies—Rent-A-Center and Aaron’s.

Note that the profit margins for both rent-to-own companies on the list are much lower than the profits earned by such public corporations as Microsoft, McDonald’s and General Electric.

Click here to download a PDF of this profit-comparison chart.

APRO: The Association of Progressive Rental Organizations— the official voice of the rent-to-own industry

Founded in 1980, APRO is the national, non-profit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media, Wall Street and the public.

For more information on APRO’s federal legislative effort, please contact APRO Public Affairs Director Richard May by e-mail or phone at 512/225-1051.

Why federal rent-to-own legislation?

Passage of a federal rent-to-own bill will benefit consumers, businesses and the American economy

*****Download the full text of the Consumer Rental Purchase Agreement Act here.

The Canseco/Landrieu Bill Defines the Rent-to-own Transaction as a Lease

The rent-to-own transaction provides millions of consumers with a flexible, debt-free opportunity to acquire household products—customers can return the product at any time, for any reason, with no penalty. There is no other transaction like it in the marketplace; however, rent-to-own is the most widely used transaction undefined at the federal level. While 47 state legislatures define rent-to-own as a lease, the U.S. Congress remains one of the last arenas to define the transaction. A federal rent-to-own lease definition will remove uncertainty for rent-to-own owners to expand their business providing jobs in their local communities.

The Canseco/Landrieu Bill is a Consumer Protection Bill

Passage of the rent-to-own bill by the U.S. Congress is good for consumers because it creates federal regulations for pricing and payment disclosures and strengthens consumer protection in 33 states. Also, it mandates reinstatement rights for the consumer. With reinstatement rights, a customer who cannot continue to make payments and has to return a product, can later resume the transaction and reinstate his or her payment history toward ownership of the product. While most rent-to-own companies already offer lifetime reinstatement rights as a part of their business practices, the federal bill requires a minimum time for payment reinstatement as a guaranteed consumer protection. The federal bill mandates full disclosure—both verbally and in writing—of every penny the customer will pay to a rent-to-own business. The rent-to-own store must disclose all costs, including total rent-to-own costs compared to the cost of the merchandise if bought in one cash transaction. The federal bill mandates pricing disclosures in rent-to-own advertising as well. An informed consumer is a powerful consumer and virtually all customer complaints and legal actions disappear when communication is open and clear.

The Canseco/Landrieu Bill Creates Jobs and nurtures economic growth

Passage of a federal rent-to-own bill will provide security for the $7-billion industry to expand and create jobs. Federal legislation will secure the future of rent-to-own businesses—both small and large—and more than 50,000 employees who work within the industry. With industry growth, the value of rent-to-own will increase on Wall Street and provide lending confidence for small businesses nationwide.

For more information on APRO’s federal legislative effort, please contact APRO Public Affairs Director Richard May by e-mail or phone at 512/225-1051.