The report entitled “The US Rent-to-Own Market:Size, Trends and Forecasts (2016 - 2020)”, provides an in-depth study of the US
RTO industry with comprehensive analysis of market size and growth, market
share and consumer behavior analysis.
Executive Summary
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.
Previously, rent-to-own agreements specifically deal in the buying and
purchasing of homes/property only but nowadays rent-to-on industry consists of
dealers that rent furniture, appliances, home electronics, and jewelry to
consumers.
The agreement has prospective financial advantages and
offer benefits to both owner and renter. In such agreements, the buyers can
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 doesn’t create much financial
burden on him/her.
The US rent-to-own market is growing with significant
growth rate over the past few years and is expected to improve further during
the forecasted period (2016-2020). Growth in the market is supported by growth
drivers such as growing urbanization rate in the US, nation’s improving GDP,
high income disparity between low and high level income population and
technological advancements etc.
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