What is APRO? - Rent-to-own Industry Timeline

The following outline the key points in the history of rent-to-own and APRO over the past three decades.

Rent-to-own Industry 2010-Present

July 26, 2011

The U.S. House Financial Institutions and Consumer Credit Subcommittee hold a hearing on H.R. 1588 - The Consumer Rental Purchase Agreement Act by Rep. Francisco "Quico" Canseco. Premier owner, Roy Soto and APRO Customer of the Year Vivian Saunders testify on behalf of the RTO industry. University of Houston Professor Jim Hawkins testifies on behalf of his academic research about the rent-to-own industry and fringe banking. National Consumer Law Center representative, Margot Saunders, testifies against the bill. The FTC also testifies.

June 2011

The APRO Scholarship Foundation awards 17 APRO Educational Scholarships, the most to date.

BestWay's Vivian Saunders is named APRO's 2011 Customer of the Year.

Rent One's Donna Falley is named APRO's 2011 Employee of the Year.

May 4, 2011

The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate.

April 15, 2011

The Consumer Rental-Purchase Agreement Act by Rep. Francisco "Quico" Canseco (R-TX) is introduced in the House.

January 2011

In an effort to focus on the industry image, APRO conducts focus groups in San Antonio, Columbus, Tampa and Syracuse. These focus groups set the framework for a national marketing plan.

September 2010

APRO commissions Trenholm Research for its third Potential Customer Survey. The survey studies the perception of the rent-to-own industry by those customers who fit the rent-to-own demographics but do not rent-to-own. The rent-to-own industry received a grade equivalent of a "D+" for its perception outside of rent-to-own customers. The industry perception outside its customer base continues to improve but still suffers.

July 2010

President Obama signs the Financial Stability Act of 2009 creating the Consumer Financial Protection Bureau. The rent-to-own industry is not addressed in the legislation.

The APRO Educational Scholarship awards four scholarships to Cordilia Stewart, Kylie Pelow, Evan Carter Howell and Michael Kessler. This is the first time APRO has awarded multiple scholarships and establishes the permanent fund for future scholarships.

David Lane is APRO's Employee of the Year. Louise Brown is APRO's Customer of the Year.

June 2010

APRO donates $50,000 worth of product and money to the Congressional Black Caucus Foundation Silent Auction. This is the 12th year of APRO's donation campaign to the CBCF Scholarship Foundation. APRO continues to be the primary sponsor of the CBCF Silent Auction.

March 2010

The U.S. Congress passes the Health Care Reform Act of 2010 affecting all businesses in America.

January 2010

APRO turns 30 years.

Rent-to-own Industry 2000-2009

September 2009

David Keen is APRO's Employee of the Year. Robert and Sherron Wilder are APRO's Customer of the Year.

The suffering economy continues to generate positive press for the industry. For the first time in APRO's history, there are more positive stories than negative.

July 2009

APRO commissions America's Research Group for its fourth customer satisfaction study. Rent-to-own dealers receive an "A" for customer service. The rent-to-own industry now settling down from consolidation rebounds from its 2004 grade of a "C". The rent-to-own customer satisfaction is 10 points higher than profitable, traditional retail.

Robin Walker wins APRO's Educational Scholarship award. Walker is the second recipient but the permanent fund raising goal of $100,000 has not been met to officially launch the scholarship's permanent fund. The fund is at $87,000.

June 2009

Policy Matters Ohio release their report "Paying More, Renting Debt: Why Rent-to-Own is a bad deal for Ohio consumers." The report generates some media activity and calls for the Ohio legislature to  further regulate rent-to-own in Ohio.

APRO donates $50,000 worth of product and money to the Congressional Black Caucus Foundation Silent Auction. This is the 11th year of APRO's donation campaign to the CBCF Scholarship Foundation. APRO becomes the primary sponsor of the CBCF Silent Auction.

February 2009

The Consumer Rental-Purchase Agreement Act by Rep. William Lacy Clay is introduced in the House. The bill generates 126 house co-sponsors. The most House co-sponsors yet. 

The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The Senate bill generates 19 Senate co-sponsors.

September 2008

President George Bush announces the U.S. economy is in danger due to toxic mortgage loans and consumer credit crises. The economic circumstances create media opportunities that promote rent-to-own's role in the economy and credit constrained consumers. Several national media stories in the Wall Street Journal and USA Today spark dozens of local stories about rent-to-own in the current economy.

Bill Tennison is APRO's Employee of the Year. Kim Royal is APRO's Customer of the Year.

June 2008
U.S. Senator Charles Schumer re-introduces the Rent to Own Reform Act - S. 1530 to "reign in these highway bandits." The introduction sets off a series of news reports negatively portraying rent-to-own.

APRO donates $50,000 worth of product and money to the Congressional Black Caucus Foundation Silent Auction. This is the 10th year of APRO's donation campaign to the CBCF Scholarship Foundation.

April 2008
APRO awards its first $2000 scholarship to Show Me Rent to Own employee Penny Wyatt from Desloge, MO attending Mineral Wells College. Wyatt is a special recipient of the scholarship donated from private RTO dealer to promote the scholarship's first fund raising goal of $100,000 to establish a permanent fund to draw interest for future scholarships.

March 2008
APRO conducts its second "Computers for Kidz" computer donation donating 30 computers to St. Louis schools in conjunction with Rep. William Lacy Clay.

January 2008
"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 is published in the Journal of Economics and Business. This is the fourth independent Financial Academic paper published regarding rent-to-own transactions continuing rent-to-own's documented value in the marketplace.

The continued economic downturn helps RAC and Aaron's as CNBC's featured stocks. The industry begins receiving first tier national coverage as the economy worsens due to high gas prices and tightening credit.

November 2007
Rent to own industry shows continued growth for more than a decade reflecting a $6.8 billion industry with an increase to 3 million customers.

September 2007
APRO Employee of the Year, Jonathan Brown from BestWay in Tappahannock, VA is honored at the APRO convention in Reno, NV.

August 2007
"Renting the Good Life" Law Review article published  into WIlliam & Mary Law Journal. "Renting the Good Life" is an independent legal review of the rent-to-own transaction adding to the arsenal of rent-to-own continued market acceptance and improved image.

July 2007
The University of Clemson releases a sociological report study that cites rent-to-own serving a need to the Asset Limited Income Constrained (ALIC) consumer in America. The independent study is the first independent sociological study on the value of rent-to-own in American society and another academic study adding to the arsenal of rent-to-own continued market acceptance and improved image.

May 2007
U.S. Senator Charles Schumer introduces the Rent-to-Own Reform Act of 2007. The bill is detrimental to the RTO industry and Schumer uses the bill for television press coverage throughout New York and beyond.

Rent-A-Center settles the New Jersey court case for $109 million.

FICO, the nation's largest and most popular credit scoring system, issues a press release stating they will use rent-to-own payments as a part of their new credit scoring system for home loans.

April 2007
The El Paso Times cites rent-to-own as the wisest transaction for musical instruments.

March, 2007
The Consumer Rental-Purchase Agreement Act by Rep. William Lacy Clay is introduced in the House. The bill generates 99 house co-sponsors. The most House co-sponsors yet. The bill sponsor changes due to the Democratic change of power in the House.

The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The Senate bill generates 21 Senate co-sponsors.

November 2006
Rent-to-own settles with the California Attorney General’s office that results in the toughest price control state legislation in the country.

Rent-A-Center buys RentWay chain increasing RAC's store dominance of the rent-to-own industry.

The Democrats take control of both the U.S. House and Senate with many of RTO’s congressional critics finding themselves with significant power. Not only does RTO lose much of the positive congressional momentum created in the past eight years but has created a potentially hostile congressional climate not seen since the 1993 investigative hearings by the U.S. House Banking Committee.

CREDCO, credit scoring system, issues a press release stating they will use rent-to-own payments as a part of their new credit scoring system for home loans.

October 2006
U.S. Senator Charles Schumer officially introduces the Rent-to-Own Reform Act of 2006. The bill is detrimental to the RTO industry and Schumer uses the bill for television press coverage throughout New York and beyond. The bill is referred to the U.S. Banking Committee.

September 2006
Rent One’s Murray Beck from Mt. Vernon, IL is honored as 2006 APRO Employee of the Year at APRO's convention in Orlando.

August 2006
Rent-A-Center’s acquisition of RentWay continues RAC’s dominance as the largest rent-to-own chain in rent-to-own history.

The Department of Defense releases a report criticizing predatory lending practices that includes rent-to-own. Dozens of media outlets pick the story up and the Senate Banking Committee holds a hearing on the report but focuses on payday loans. The DOD report is the third national news medium negatively featuring rent-to-own in the past year.

The Buffalo News continues its press criticism of rent-to-own and other industries that culminate into two public hearings by the state legislature, public criticisms by statewide political candidates and the announcement of the Renters Right Act of 2006 by U.S. Senator Charles Schumer (D-NY).

July 2006
The Brookings Institution releases a report entitled “From Poverty, Opportunity: Putting the Market to Work for Lower Income Families” which included negative reports and criticisms of the RTO industry that received dozens of media coverage in major cities throughout the U.S.

June 2006
APRO’s Government Relations and Public Relations crises of 1993-1997 is featured as a college textbook case study in political, media and public relations crisis management in “Cases in Business Ethics.”

APRO launches permanent RTO [Relief To Our] Employees Disaster Relief Fund. The fund was formalized after last season’s destructive hurricanes and APRO’s successful response in assisting APRO employees’ recovery from the disasters.

May 2006
The U.S. Regulatory Relief Act passes the U.S. Senate Banking Committee without rent-to-own legislation.

The Buffalo News begins a series of negative articles on rent-to-own and New York RTO legislation.

April 2006
APRO releases first published media analysis report after one year’s worth of media coverage documented through web searches. Business news dominates the industry and negative coverage outweighs positive coverage 2 to 1.

March 2006
APRO launches new Web site, RTOHQ.

New Jersey Supreme Court rules against RAC and rent-to-own. Damages still undecided while RAC appeals.

Wisconsin Governor vetoes WI state rent-to-own legislation that recently passed both houses.

December 20, 2005
The Consumer Rental-Purchase Agreement Act by Rep. J.C. Watts is introduced in the House. The bill ends up with 36 co-sponsors.

September 2005
APRO collects and distributes $158,411 to 159 APRO member employees who were displaced by hurricanes Katrina, Rita and Wilma.

August 2005
APRO celebrates its 25th anniversary at its annual convention and trade show.

APRO Employee of the Year, Paul Russell from Blue Ribbon Rentals in St. Clarisville, OH and APRO Customer of the Year Johnie Bradford from Baber's in Columbus, MS are honored at the APRO convention in Las Vegas, NV.

April 14, 2005
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 40 co-sponsors.

March 11, 2005
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 19 co-sponsors.

August 2004
APRO debuts buying show during annual convention in Tampa, Florida; buyers place orders for more than $13.2 million.

APRO Employee of the Year, Jody Katz from Buddy's Home Furnishings in Tampa, FL and APRO Customer of the Year Patrick & Marianna Head from Baber's in Tupelo, MS are honored at the APRO convention in Tampa, FL.

June 22, 2004
Senate Banking Committee holds hearing on regulatory relief issues, including rental-purchase language as part of the committee bill draft.

May 2004
APRO conducts third RTO Customer Satisfaction Survey by Brit Beemer of America's Research Group. RTO customer satisfaction received the equivalent of a grade of a "C+", a significant departure from the previous two surveys. Industry experts attribute the lower customer satisfaction to the consolidation of the industry causing employee and store changes disrupting the customer relationships necessary for successful rent-to-own operations.

March 2004
APRO commissions Trenholm Research for its second Potential Customer Survey. The survey studies the perception of the rent-to-own industry by those customers who fit the rent-to-own demographics but do not rent-to-own. The rent-to-own industry received a grade equivalent of a "D" for its perception outside of rent-to-own customers. The rent-to-own industry image outside of its customers continues to be a challenge to industry leaders and owners.

October 2003
The Wall Street Journal publishes two fairly favorable articles on the RTO industry and its struggle for definition.

August 2003
APRO Employee of the Year, Anthony Robinson from Rent-A-Center in Lakewood, CO and APRO Customer of the Year Donna Brown from Baber's in Tupelo, MS are honored at the APRO convention in Reno, NV.

June 21, 2003
RTO industry founding father Ernie Talley dies.

May 2003
APRO launches its APRO Scholarship Foundation.

April 10, 2003
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 27 co-sponsors.

February 27, 2003
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 95 co-sponsors.

January 2003
APRO’s print newsletter, View, ceases publication and is replaced by APRO’s first online publication, Rental Viewpoint.

September 18, 2002
RTO bill passes the full House of Representatives by a vote of 215 to 201. The bill dies in the Senate, but leaves the industry with momentum.

September 17, 2002
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 8 co-sponsors.

August 2002
APRO Employee of the Year, Ronnie Williams from RentWay in Harrisburg, IL and APRO Customer of the Year Norma Burgenger from Stanley's in Vinita, OK are honored at the APRO convention in Las Vegas, NV.

June 26-27, 2002
The RTO bill passes full committee with a 29-9 vote. The mark-up receives no significant press coverage.

November 28, 2001
The RTO bill passes subcommittee with a 24-4 vote. The mark-up receives no significant press coverage.

November 2001
The Journal of Consumer Affairs publishes “A Reconsideration of Rent-to-Own” by professors Ray Jackson and Mike Anderson. After decades of being accused as an ill-advised financial option, RTO’s no-obligation value is touted.

August 7, 2001
APRO Employee of the Year, Josef Warren from New Image Rent-to-own in Colorado Springs, CO and APRO Customer of the Year James & Brenda Atchison from Rent One in Mr. Vernon, IL are honored at the APRO convention in Las Vegas, NV.

July 12, 2001
House Financial Services committee holds a hearing on RTO-industry-supported legislation.

June 2001
APRO raises $15,000 for education scholarships during the Congressional Black Caucus Spouses event.

May 3, 2001
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 83 co-sponsors.

March 2001
APRO conducts its first employee attitude survey.

August 2000
APRO awards its first Employee of the Year, Eric Ison from Showplace Lease/Purchase in BelleFontaine, OH and APRO Customer of the Year Maria Magdalena Estrada from M Rentals in El Paso, TX. They are honored at the APRO convention in Nashville, TN.

July 2000
APRO purchases its first building as headquarters for the Association in Austin, Texas.

June 18-25, 2000
APRO members join together to build the Association's first Habitat for Humanity home in Austin.

April 13, 2000
The Clinton White House requests a FTC survey on RTO customers. While the FTC survey results reflect the high costs associated with rent-to-own, its conclusions show RTO customers are satisfied and that the government should be careful not to eliminate the RTO option.

2000
APRO leads successful effort to stop attempt to repeal Kentucky and New York statutes

Rent-to-own Industry 1990-1999

May 13, 1999
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 51 co-sponsors.

January 15, 1999
APRO conducts its second customer satisfaction survey. The industry receives the grade equivalent of an "A-" reflecting its superior customer service. The average successful and profitable retail store receives a grade of a "B".

June 20, 1998
APRO donates 100 stoves for the Habitat for Humanity Jimmy Carter build in Houston.

May 6, 1998
The FTC issues a request for proposal to conduct a study on RTO customers.

February 25, 1998
NBC Nightly News with Tom Brokaw features RTO in its “Fleecing of America" segment; generates minimal negative publicity.

November 28, 1997
ABC’s 20/20 airs its report. Negative publicity fallout is minimal.

November 1, 1997
APRO forges partnership with Habitat for Humanity International as a corporate sponsor.

September 27, 1997
ABC’s 20/20 and CBS’s Public Eye contact APRO simultaneously for exposé features on the industry.

August 1997
The “Image” and “Couple” commercial spots are released to APRO members. They are the third professionally produced commercial addressing the number one image source - television commercials.

June 1997
1997 Taxpayers Relief Act passes; includes provision defining RTO as a lease for tax purposes. The law also declares 3-Year MACRs depreciation method for rent-to-own products.

June 24, 1997
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House after J.C. Watts moves off Banking Committee. The bill ends up with 27 co-sponsors.

June 4, 1997
PIRG releases a new report, Don’t Rent to Own. Media actually does a better job trying to cover both sides of the issue.

April 4, 1997
The first public perception of the industry by consumers survey is conducted, Into the Consumer's Mind, Into the Future.  The study by Trenholm Research Group is the first market study to gauge public perception and image of potential rent-to-own customers. it is the framework for the industry's public relations campaign to change its image. The industry received the equivalent grade of an "F" for its perception outside its customer base.

June 1996
Pennsylvania reverses sale statute and defines RTO as a lease.

April 2, 1996
APRO releases its first commercial, "Gus," for member use.

May 1995
Sale vs. lease issue resolved with the IRS, saving the industry more than $1 billion in taxes. The provision eliminates the $1 billion liability threat to RTO. The ruling reflects one of the biggest victories for RTO and grassroots

August 1994
IRS launches national RTO industry audit on sale vs. lease issue.The ruling prompts the industry to challenge the potential ruling in court. The $1 billion dollar threat undermines the future of RTO.

March 22, 1994
The Consumer Rental-Purchase Agreement Act by Sen. Richard Shelby is introduced in the Senate. The bill ends up with 5 co-sponsors.

December 20, 1993
APRO, through Rep. Larry LaRocco, introduces a federal bill to define the RTO transaction as a lease. The Consumer Rental-Purchase Agreement Act by Rep. Larry LaRocco ends up with 53 co-sponsors.

October 1993
The Public Interest Research Group holds a press conference entitled "RTO = Rip Them Off," setting off a flurry of negative media coverage for the RTO industry throughout the country.

September 27, 1993
House Banking Committee Chairman Henry Gonzalez introduces federal legislation to classify RTO transaction as a sale—a bill that, if passed, would have crippled the RTO industry. The hearing sets off hundreds of negative news stories including the major networks throughout America.

September 22, 1993
The Wall Street Journal headlines RTO with the most damaging article in its history citing the "$5000 VCR" and "Couch Payments". The story sets off further Congressional investigations and media attacks that lead to Congressional legislation to cripple the rent-to-own industry.

June 1993
APRO creates its first Public Relations Committee, chaired by Bob Simons.

April 14, 1993
The APRO Task Force is created to organize grassroots legislative program, prepare for the industry's pending tax issues and respond to the growing media scrutiny. The Task Force hosts its first annual federal Legislative Conference.

March 1993
House Banking Committee Chairman Henry Gonzalez holds investigative hearings on the RTO industry. The hearings are broadcast on national and local news stories throughout the nation. APRO Executive Director Bill Keese and APRO member Mamie Harper testify along with PIRG, National Consumer Law Center and other consumer advocates. The RTO industry is caught off guard leaving it vulnerable to a series of government relations and public relations attacks.

1990
APRO appoints Tax and Accounting Committee, headed by Wayne Chambers.

Rent-to-own Industry 1980-1989

1989

APRO creates Legislative Defense Initiative Fund during summer convention. The LDIF is the first step to an active and funded government relations program for the rent-to-own industry.

APRO's replaces executive director hiring former Texas State Representative Bill Keese.

First annual Rental Advertising Excellence award program.

1988

Pennsylvania becomes only state to clearly define RTO transactions as credit sales. 

1984

Connecticut forms first state rental dealer association.

1984

Michigan first state to adopt rental-purchase statute. U.S. Senate passes bill defining transaction as a lease.

November 1984

Progressive Rentals magazine debuts, replacing The APROach.

November 1983

Rent-A-Center becomes the first rent-to-own company to go public on Wall Street.

July 1983

First federal public hearings held on the industry in Washington, D.C.

April 1983

First federal RTO bill introduced.

July 1981

First annual APRO Convention and Trade Show is held in Dallas.

March 1981

The first issue rent-to-own magazine publication called The APROach is published.

November 1980

Incorporation of the Association of Progressive Rental Dealers Association; Ed Winn III hired executive director of APRO. Bud Holladay is APRO's first president.

July 1980

In Dallas, the first meeting of rental dealers is held.