Starting a Rent to Own Business: Everything You Need to Know

When starting a rent to own business, it is important to consider which sector you want to do business in.3 min read

When starting a rent to own business, it is important to consider which sector you want to do business in. Rental sectors that have typically shown success include those that sell electronics, automobiles, and furniture. Consumers are always on the hunt for ways to save money. Through rent-to-own businesses, consumers can rent name brand items on a weekly or monthly basis. In turn, the owner can sell these high-price items for more than what the typical asking price would be in a traditional store.

Understanding Rent-to-Own

Rent-to-own occurs when a tenant or consumer rents property that has the option to purchase it attached. The rental company will set a purchase price at the beginning of the contract, and the tenant will pay a fee for the option to purchase the property in the future. A portion of the rental income is used as a credit towards the purchase of the property.

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