APRO’s Code of Ethics: Members Shall Provide High Quality Goods and Services
APRO’s Code of Ethics was created when the association was formed in 1980 as part of an effort to organize the industry against legislative threats at the time. APRO’s first members wrote the code of ethics to establish a set of guidelines consistent with what they felt should be the industry’s values and ethical standards. These 14 Code of Ethics are still the defining guidance that APRO members agree upon to maintain a healthy business environment. In April, the APRO Board of Directors identified reconfirming these Code of Ethics as a priority during their Strategic Planning meeting, and as a result, APRO will feature a series of articles to familiarize and reconfirm each of these ethical standards with membership.
Members shall provide high-quality rental goods and services to their customers and to the community in which they live.
“Rental dealers have much more investment in finding high-quality products than the average retailer because they are ultimately responsible for repairing or replacing throughout the life of the agreement,” says APRO Director of Business Development Tony Pinterelli, “In a lot of ways they have as much invested in the product as the consumer.”
APRO’s third article in the Code of Ethics highlights the importance of providing high-quality rental goods and services not only because it is a good business practice in general, but it is particularly important to the Rental Purchase Industry because the return on investment products produce for dealers is a critical part of the fundamental business model.
“On average a product is rented about four times before it goes to term and ownership shifts from the dealer to the customer. In most cases the manufacturer warranty will expire long before the product is owned by a customer, so in effect, the warranty shifts to the responsibility of the dealer,” says Vice President of National Account Sales for O’Rourke Sales Bill French. “A rental dealer is looking for ‘book value’—how much revenue was brought in by the first customer, and then conversely, how much it will cost to continue generating revenue. Rental dealers have to find ways to best leverage the value of their products that will add value and keep costs as effective as possible throughout the life of their agreements.”