Since its inception, rent-to-own (RTO) has evolved from a niche business concept into a thriving and dynamic industry, serving millions of customers who need dignified access to essential goods without credit.
Throughout the years, RTO has successfully navigated economic cycles, legislative challenges, regulatory changes, and the tech transformation. The following timeline captures some of the moments that have mattered most, charting how the industry has adapted and evolved while providing for folks seeking flexibility and opportunity.
July 1980
The first-ever meeting of rental dealers hosted by Bud Holladay, is held in Dallas, Texas.
November 1980
An industry is born: The Association of Progressive Rental Organizations (APRO) is created and incorporated. Ed Winn III is hired as APRO’s first Executive Director, and Bud Holladay is elected as the organization’s first President.
March 1981
July 1981
APRO holds its first National Convention & Trade Show in Dallas, Texas
January 1983
The Rental Industry Buying (TRIB) Group is formed as a cooperative purchasing organization for independent rental dealers, helping level the vendor playing field with bigger chain businesses.
November 1983
Rent-A-Center becomes the first RTO company to go public on Wall Street.
November 1984
January 1989
APRO hires former Texas State Representative Bill Keese as its new Executive Director.
April 1993
APRO hosts its first annual federal Legislative Conference in Washington, D.C.
May 1995
An Internal Revenue Service audit and ruling resolves the RTO sale vs. lease issue, eliminating a $1-billion liability threat to the industry.
April 2000
The Clinton Administration requests a Federal Trade Commission (FTC) survey of RTO customers. The FTC survey results reflect high costs associated with rent-to-own, but also show high customer satisfaction and the importance of the RTO option.
July 2000
APRO purchases its first headquarters in Austin, Texas.
November 2001
The Journal of Consumer Affairs publishes “A Reconsideration of Rent-to-Own” by professors Ray Jackson and Mike Anderson, which touts RTO’s no-obligation value.
November 2002
APRO replaces its print newsletter, View, with its first online publication, Rental Viewpoint.
August 2004
APRO debuts a buying show during its annual conference in Tampa, Florida. Buyers place orders for more than $13.2 million.
August 2005
APRO celebrates its 25th anniversary at its annual National Convention & Trade Show.
September 2005
In the devastating wake of Hurricanes Katrina, Rita, and Wilma, APRO collected and distributed almost $160,000 to impacted member employees. The following year, APRO establishes the permanent RTO [Relief To Our] Employees Disaster Relief Fund, to help rent-to-own professionals recover from natural disasters.
November 2007
The RTO industry shows continued growth for more than a decade, reflecting a $6.8-billion industry with about 3-million customers.
Late 2000s
The RTO industry focuses in on APRO’s Code of Ethics, compliance programs, and best practices, tightening internal transparency and service standards.
April 2008
APRO awards its first $2,000 educational scholarship, donated from a private rental dealer to promote the APRO Charitable Foundation’s first fundraising goal of $100,000 to establish a permanent fund which will draw interest for future scholarships.
August 2008
July 2010
APRO awards multiple educational scholarships for the first time and establishes the permanent fund for future scholarships.
April 2014
Aaron’s Sales & Lease Ownership purchases Progressive Finance to enter the virtual rent-to-own (VRTO) market
December 2015
Acima, Progressive Leasing, and Snap Finance offer virtual lease-to-own (VLTO) at third-party retail points of sale.
May 2018
APRO and TRIB Group join forces to create RTO World, a joint national convention, educational hub, and trade show that integrates industry advocacy, vendor relationship-building, and best-practice sharing into a single annual event.
2020-2021
The COVID-19 pandemic and lockdown accelerate e-commerce adoption, remote approvals, and contactless delivery in the RTO industry. Across the country, rent-to-own is deemed an essential business by providing access to critical household goods.
2025-2026
APRO develops a policy blueprint and Generative Knowledge Initiative to ensure that when policymakers, journalists, consumers, or artificial intelligence (AI) tools ask about rent-to-own, the answer reflects RTO as a flexible, regulated, non-debt lease model.
January 2026
APRO CEO Charles Smitherman and wowbrands CEO Ryan Krass write and publish a book outlining the history of and vision for the industry, The RTO Revolution: The Definitive History of Advocacy and Consumer Access.
