Rental and leasing of apartments
Saturday December 16th 2017

Rent to Own Growth in 2017

January 11, 2017

A recent report on the Rent to Own market  gives a wide and in-depth view of how the market is moving. The FTC have carried out a recent survey on the market.
Overall there are many small operators who together own approximately one third of the market. None of these operators has leveraged up their marketing. So the field remains open to a big operator who is willing to invest and become the dominant brand  in the sector.

The biggest operators are Rent-a-Center and Easyhome. The idea of furniture rental and home decoration including carpet tiles, started in the 1960’s and has become part of mainstream furniture retailing. Bizjournals published a report  on trends the market.  The appeal to you and I as consumers is that we are given a lease as you would be for a commercial property only this time it is for household goods and appliances and as of today, there are over 8,000 stores in the US. In order for you to avail yourself of such a financial facility you do not need a credit check or down payment to enter into such an agreement.
However the finance companies operate a fairly sharp deal. Even if you settled early you would still need to pay up to 3 times the initial cost of your purchase.

Various economic factors have helped to drive this relatively new market. As business generally increases after the recession, demand for furniture increases as well. However the industry also gains greatly from a falling unemployment level and the number of people  seeking this arrangement is expected to rise hand-in-hand.

On a personal level, if you like to keep up with the changing tastes in furniture and household design, it is far more flexible should you decide to change after a few years. What you are doing is hiring furniture but you will find it far easier to update your choice in a year or two from now.

A brief look around for trends online will provide you with many good ideas, across multiple suppliers, rather than having to spend your weekends trekking around several retailers.

 

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