How to Open a Store on Rent2Buy in 5 Easy Steps

Opening a store on Rent2Buy is really easy. And best of all, it’s free. Our e-commerce platform was created with the vision of connecting buyers and sellers on one comprehensive online marketplace. Our goal is to provide businesses and consumers a space in which to transact in innovative ways.

What makes Rent2Buy unique and differentiates us from Craigslist and other such online marketplaces is that you can choose to list your items as for sale, for rent, or as rent to buy.

Your store will be a comprehensive online marketplace where you can list your entire inventory. You can delete or add items at any time. You can upload your logo, upload multiple pictures of your items, add descriptions, and give potential customers in-depth information about your items to a degree that you can’t on other online sales platforms. In just a few short minutes, you’ll have your very own online marketplace up and running!

How to Open a Store:
1.  Go to: http://www.rent2buy.com/stores/stores.aspx
2.  Sign-in using a Google, FB, Twitter (etc) account, or create an account on Rent2Buy.
3.  Once logged in, click the ‘open store’ button at the top right-hand side of the page.
4.  Click on the ‘open a free store today’ button.
5.  Fill in information about your store, upload your items, and start selling!

In a few short minutes, your store will be open and ready for business!

New Rent2Buy face at blog.rent2buy.com!

Rent2Buy now has a new face! Check us out at blog.rent2buy.com! The new blog will have all of our new updates and blog posts. Feel free to comment and give us feedback on the new blog. Let us know what you like, what you don’t like, what types of posts you’d like to see in the future, etc. We just want to connect with you, our audience, as best we can. Let us know if we’re doing a good job!

Rent-to-Buy Program Takes Off in South Africa

The National Credit Act has made it difficult for potential home owners to get the loans they need to finance the purchase of a new property. This inability to get a loan makes it more difficult for these people to enter the housing market. Both first time buyers and the self-employed are particularly affected by the Act. Reports show that close to 50 percent of employed bond applicants are declined each month. An even more startling statistic is the 58 percent of self-employed applicants who are denied home loans.

A new concept is revolutionizing the South African property market. The introduction of a new Rent2Buy program in the area will provide buyers and sellers with an alternative way to conduct transactions. Meyer de Wall is the founder of Rent2Buy as well as a practicing attorney. According to De Wall, “We negotiate agreements between potential buyers and sellers whereby the buyer concludes a rental agreement with a seller with an option to purchase the property by a certain date and at an agreed price.”

Rent2Buy works by assuring the seller a set price for the property in the future. The buyer of the property pays rent in an amount that is approximately equal to the buyer’s future bond repayment. A unique aspect of the rent to buy transaction is that buyers are able to take immediate ownership of the property. Because they are taking over responsibility for the property, they are able to treat the home like it is their own and make changes accordingly. They will also be responsible for any rates, taxes, levies and maintenance.

“The idea is that the buyer uses the option period of the contract to prove his affordability and creditworthiness to the bank,” De Wall explains. “This way the buyer can eventually secure a loan to purchase the property. In addition to using the time to save for a deposit, he also shows he can afford the property and be disciplined by paying rent regularly and on time.”

Rent2Buy launched a home owner education programme with the goal of training and mentoring bond applicants and helping them succeed at securing a home loan. The My Budget Fitness programme will improve an applicant’s credit rating and put him on the path to being financially fit for a loan.

The programme was developed in association with Solly Molefe of Setsmol Training. “The programme is unique as it assigns personal budget trainers to applicants and uses innovative software to help home loan applicants track their progress and reach a financially fit state,” Molefe says. “Through mentorship, education and month-by-month guidance, home loan applicants reach affordability and clear their credit record as required under the National Credit Act.”

The My Budget Fitness Programme is available to anyone looking to secure a home loan, not just Rent2Buy customers.  The hope is that allowing everyone access to this type of program will improve the ability of anyone seeking a home loan to achieve their goal of being financially fit to be approved for a bond.

Hong Kong Rent-to-Buy Initiative to Improve Housing Market

In Hong Kong, a two-tiered solution to the skyrocketing home prices experienced over the few years has been proposed. The country will stop offering residency to foreigners who buy property. The second part of the proposed changes to Hong Kong’s policy is the implementation of a rent-to-buy program.

The new rent-to-buy program will offer 5,000 units for first-time property buyers. Buyers will able to rent for up to five years before eventually purchasing.

Cusson Leung, a Hong Kong-based analyst at Credit Suisse Group AG, commented that “many of the policies announced today may have only limited impact on the property market in the near term.”

“Take the rent-to-buy scheme,” said Leung, “a lot can still happen over the next few years.”

The rent-to-buy program will let first-time property owners rent a house for up to five years at a fixed rental cost. Half of the total rent paid during the rental period will be put towards a down payment to buy the home.

According to Wong Leung-sing, a research director at Centaline, Hong Kong’s biggest privately-held property broker, “These are good measures..I think this whole policy address is a move in the right direction.”

The first stage of the project is scheduled to be completed by 2014, and will include 1,000 units in the Tsing Yi district. Officials hope the new rent-to-buy initiative, coupled with a cease in residency offers to foreigners buying property will cool home prices and allow the housing market to settle. Only time will tell.

To read the original article on Bloomberg,  click here.

Life After Foreclosure: Dealing With Bad Credit

More and more people are losing their homes to foreclosure or short sales. As people are unable to make payments on their home loans, their credit gets worse. The amount of homeowners faced with bad credit as a result of their inability to make the necessary loan payments is increasing. According to a study by a research firm called CoreLogic, almost 2.8 million Americans have gone through “distressed sales” since 2008.

NPR’s Yuki Noguchi talked with borrowers about their experiences with foreclosure and bad credit. She discusses the repercussions of having bad credit and the difficulties associated with loan modification.  Listen to the story on NPR, here.

Gameloft offers try before you buy HD games for Android

Gameloft offers Android users an option to try before they buy certain HD games. There are currently 11 games that can be tested. Anyone with a capable device has the option to try out the available games, which range from high-intensity shooting games to adventure games such as Hero of Sparta and Gangstar.

Consumers have access to ‘try before you buy’ Gameloft games through the gameloft.com website. Users who navigate to the Gameloft website on their Android are then redirected to a list of games available to try before you buy.

Instead of distributing applications in the Android Market, Gameloft has decided to sell directly to consumers. Though distributing their games using the Android Market would be easier, Gameloft has decided that selling the games themselves allows consumers who may be hesitant to pay out cash without protection an opportunity to try before they buy risk- and worry-free.

The types of situations and services for which providers offer customers the option to try before buying is expanding. Even in the context of cell phone games, it is clear that the option to ‘try it before you buy it’ is a valuable way to test out a product/service before handing over the cash to purchase it.

University of Kentucky Lets Students Rent Books With Option to Buy

Offering students the option to rent textbooks has become increasingly widespread. Colleges across the country have adopted new practices that allow their students to take advantage of rental and rent-to-buy programs.

The University of Kentucky is one such school that has recognized the need for more affordable ways for students to obtain textbooks. The UK Bookstore’s parent company, Follett Higher Education Group, offers students the option to rent instead of buy. This option can save students more than 50% of what they would pay to purchase a text.

With the rent-to-buy program, each student can treat the text like it is his own. Students are free to highlight and take notes in rented books. At the end of the semester, students can return the book or have the option to buy it. The national pilot program put in place by the Follett Higher Education Group has received positive feedback, with more than 90% of students surveyed as being satisfied. The Group found that the rental program saved students close to $2 million on course texts in one semester at seven different schools.

Students have the option of renting or buying texts in the campus store or online at the book store’s website. There are various different payment options to accommodate students’ needs. The rent-to-buy program makes textbooks more easily accessible to all students, and eases the financial burden placed on students who may not have the means to afford a full courseload worth of books each semester.

Sally Wiatrowski, store director at UK’s Bookstore, said that “the results and feedback from UK students who were able to select rental as an option were very positive. In response, the Rent-A-Text at the UK Bookstore is now offering a much wider expanse of titles.” Student feedback on the ease and financially less burdensome option of renting texts is decidedly positive.

Click here to read the original article.

Harper Teen Allows Readers to “Browse Inside”

Harper Teen is a subsection of Harper Collins publishing company geared towards teenaged readers. On the HarperTeen website, teens can “Browse Inside” books before they decide to purchase them.

The “Browse Inside” section of the website has two subsections: one titled “full access,” and one titled “sneak peak.” Books in the full access section can be viewed by readers in full. The sneak peak section allows readers to view certain chapters or sections of the book before making a purchase.

The idea of ‘try it before you buy it’ as it is applied to the Harper Teen website enables teens to get a feel for the writing style and content of a book before deciding to buy it.

Click here to check out the “Browse Inside” section of Harper Teen.

Stan Kroenke Makes Offer to Rent-To-Buy St. Louis Rams

Stan Kroenke has made an offer to buy the St. Louis Rams. He wants to use the rent to buy process to purchase the team in two pieces instead of all at once. Under this arrangement, he would pay interest to the current owners for holding onto the other piece for an agreed-upon amount of time.

Members of the nine-member NFL finance committee met via conference call to discuss Kroenke’s proposal. Sources say they are upset with the offer he made.

Stan Kroenke currently owns the Colorado Avalanche and Denver Nuggets. League rules state that owners can’t own an NBA, NHL or MLB team in another football market. The finance committee has already accommodated Kroenke by stretching the limits of the league’s cross-ownership ban.

In an attempt to deal with the committee’s qualms, Kroenke has proposed shifting ownership of the Avalanche and the Nuggets to his children. However, this solution is seen as problematic because Kroenke has built provisions into it that would allow him to cover potential operating losses and guarantee debt. It is unclear whether the league will actually sign off on that.

Stan Kroenke’s offer to rent-to-own the St. Louis Rams widens the scope of possibilities for the rent to buy industry. If his offer is accepted, Kroenke will have the ability to essentially try before he buys the St. Louis Rams. If someone can rent to buy a major sports franchise, the possibilities for the ‘try it before you buy it’ rent to buy concept are limitless!

NFL owners will meet on August 25^th in Atlanta to discuss the proposal and have a final vote on Kroenke’s offer. Check back with us after August 25^th for an update on how the process “plays out.”

Click here for a link to the full article in the St. Louis Business Journal.

Apple Adds Option to “Try Before You Buy” Apps

Apple just launched a new section of its application store – “Try Before You Buy.”

This new section of the App Store allows users to try out certain applications before purchasing them. The option to “try before you buy” does not apply to all of the paid applications Apple offers; at least not yet.

The “Try Before You Buy” section currently features freemium, “lite” and ad-supported versions of applications that are typically pay-to-play.

One benefit of the “try before you buy” policy is its potential to deter would-be app pirates. The loss of revenue due to the pirating of applications has allegedly cost the App Store about half a billion dollars.

The main reason people download these pirated applications is because they do not have the option to test out an application before buying it. The option to try it out before you buy it should mitigate this problem.

The popularity of the try before you buy concept has begun to catch on with big brands and companies. The success of this concept within the framework of Apple apps will be telling for future applications of the “try before you buy” idea.