Rent-to-own News - Job creation is focus of RTO legislative message

Missouri Congressman William Lacy Clay addresses a diverse group of RTO professionals at APRO's Legislative Conference Tuesday.

Rent to own dealers, vendors and other industry professionals kicked off the first day of APRO's 2010 Legislative Conference in Washington, D.C., united behind the message that rent to own legislation will spur economic recovery through job creation and business expansion.

More than 120 attendees -- including around a dozen new conference participants -- will head to Capitol Hill over the next several days to meet with their congress members to explain the rent to own transaction, pending rent to own legislation (H.R. 1744 and S. 738) and its importance to the industry and the economy.

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"Tiger" John Cleek, president of the Association of Progressive Rental Organizations (APRO), delivered an upbeat address to conference attendees at the general session Tuesday, noting that 14 additional Congress members have agreed to co-sponsor H.R. 1744, the House version of the RTO bill, bringing total unofficial co-sponsorship to 127.

New co-sponsor names will not be reported until they appear officially in the Congressional Record.

Cleek stressed that rent to own legislation fit well with presiding Congressional and Presidential goals.

"President Obama has made jobs his focal point," Cleek said. "It needs to be our focus too. Education is key."

Bill Keese, APRO executive director, reiterated Cleek's remarks noting that the only thing holding the industry from rapid expansion is the lack of federal definition -- something passage of the Consumer Rental Purchase Agreement Act could remedy.

"You need to tell your congress member, 'we can double the size of this industry if this legislation passes,'" Keese said. "That means we're at around 8,000 stores now, we could expand to 16,000 stores. We can help America get up and run again by helping businesses expand, by creating jobs and providing customers with an opportunity to obtain the goods they need with the consumer protections they deserve."

The fact that 50 percent of the industry consists of single store owners is key to defining the industry as representative of small business interests around the country, Keese said.

Adam Sutton of Red Letter Studios -- an RTO specific graphic design and video production house -- is a first time attendee at the legislative conference.

Sutton said the reach and impact of the industry was significant and needed explaining to members of Congress.

"It's exciting for me to be here because this legislation affects my business which is dependent on RTO owners," Sutton said. "This legislation affects not only their businesses but all their vendors and all those associated with them."

Later that evening at a reception for first-time conference attendees, Congressman William Lacy Clay -- sponsor of RTO legislation in the House -- told conference attendees their vigilance did not go unnoticed and that he was prepared to "go the distance" for the legislation.

"My constituents need a variety of financing alternatives to be able to have all the modern conveniences others enjoy," Clay said. "We have a cause I believe in and am willing to fight for. I'm fired up and ready to go."

See photo gallery.