The Market Insights Reports has added a new statistical data to its repository titled as, US Rent-to-Own Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
Top Key Players in the US Rent-to-Own Market: Rent-A-Center, Aaron’s Inc. and goeasy Ltd. and Other.
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Rent-to-Own Market Scope:
The report titled US Rent-to-Own Market, provides an in-depth study of the US RTO industry with comprehensive analysis of market size and growth, market share; the analysis also encompasses market by value, by volume, market share by top players, etc.
Additionally, the report also outlined the factors that will help the market to grow in the forecasted period. It assesses the key opportunities available in the market that boost the market in the coming years. Growth of the US RTO industry has also been forecasted for the period 2017-2021, taking into consideration the existing growth patterns, the growth drivers and the current & future trends.
An agreement in which the buyer has the option to become the owner of the property/goods, after a certain period of fixed time and payment is known as rent-to-own agreement. Also known as lease-to-own agreements, customer has the option to purchase the rental property. Earlier, rent-to-own agreements specifically dealt in the purchasing of homes/property only, but nowadays rent-to-own industry consists of dealers that rent furniture, appliances, home electronics, and jewelry to consumers.
The rent to own agreement has prospective financial advantages and offer benefits to both owner and renter. In such agreements, the buyers have immediate access to household goods for a relatively low week or monthly payment, typically without any down payment or credit check. As the buyer has to make a small payment weekly/monthly, so it does not create much financial burden on him/her.
A rent-to-own agreement is made up of two agreements: a standard lease agreement and an option to purchase. A consumer who respects the terms of the contract and pays all rents before acquiring the good leased, generally pays, in total, twice even three times the actual value of the good.
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