Mousli, a vocal supporter of rent-to-own
scheme, said that the concept is the future of the region's real estate sector as it eliminates the entry barriers that hold many prospective buyers back.
Merchants Preferred, founded in 2012 and based in Atlanta, Georgia, is a nationwide provider of virtual rent-to-own
services for non-prime customers.
In a rent-to-own
scenario, you're paying above-market rent.
Through the acquisition, Rent-A-Center will increase its Acceptance Now virtual rent-to-own
offering by providing "scalable and seamless" solutions, the company said.
'They also ask that crew members be given an option to buy low-cost housing units or rent-to-own
units,' he said.
Although still in its early stages in terms of reach and volume, the scheme has begun to re-emerge as a viable option for both buyers and sellers after the Dubai Land Department (DLD) launched the rent-to-own
(Ijarah) service last year, allowing such deeds to be registered.
Their new guidelines will set a 100% credit cap, meaning rent-to-own
stores will only be able to charge interest up to the value of the product, bringing costs down by hundreds.
He said: "Rent-to-own
and other high-cost credit will continue to put a strain on low income households who have little choice but using credit to pay for essential goods.
Gillian Guy, chief executive at Citizens Advice, said: "This cap is a win for those struggling with the runaway costs of rent-to-own
Quezon City Mayor Herbert Bautista has approved an ordinance providing the beneficiaries of selected Bistekville socialized housing projects in the city to officially own residences through the rent-to-own
A PRICE cap on the rent-to-own
sector which could save consumers up to PS22.7m per year has been proposed by the City regulator.
HARD-UP families bagging a Black Friday deal from rent-to-own
chain BrightHouse face paying twice as much for the "bargain" - and still forking out in 2021.