Property 101: Getting to grips with rent-to-own

When it comes to buying new furniture, upgrading a television set, or even just purchasing a dishwasher to save time doing chores, today’s challenging economic environment is making it increasingly difficult for consumers to make these sorts of purchases. According to Rami Sassen, CEO of Teljoy, this is where the rent-to-own (RTO) model comes into its own.

“It does not matter if you are newlyweds starting out on your own or a family of four looking to expand your lifestyle options, keeping pace with furniture replacements, appliance repairs, and electronic upgrades has become an expensive undertaking. However, RTO is designed to alleviate the financial burden on South Africans by providing them with an affordable option to getting the household items they need.”

RTO is a monthly contract that lets people rent a range of household appliances, furniture, electronics, and even beds with the option to take ownership after a predetermined period. And because this is a month-to-month agreement, no credit is needed. Customers can simply choose a product they like or want and upgrade, downgrade, and even cancel as their financial situation changes.

While some people might be sceptical about the RTO concept, it has been in South Africa since Teljoy launched in 1969. And over the years, the company’s product offering has expanded significantly beyond just the television set many of our parents were used to.

“Buying anything on credit has become a risky undertaking. It is well known that the country is struggling with high household debt and, once you are stuck in that trap, it is incredibly difficult to get out of it. If you run into any financial difficulties in making your monthly premiums, the impact could be a negative credit rating, legal action, and even repossession. RTO avoids all of that with a convenient solution that gives consumers complete control over their expenses.”

Think of it as a hire purchase agreement with the difference being you can cancel at any time. For example, if you want to watch the upcoming Cricket World Cup on that big-screen television set you cannot quite justify buying, you can just rent one through Teljoy.

Or how about it when you want to host a massive family weekend gathering but do not want to be stuck doing dishes all the time or have your guests sleep on the couch. Simply rent a dishwasher or a few bed sets. This way you can host without incurring an unnecessary debt burden that might turn out regrettable tomorrow.

It really is a case of logging on to and browsing its extensive online store filled with high quality brand name products, selecting the item you want, and completing an easy application process. A customer just needs a copy of his or her ID document, latest bank statement and payslip or proof of income to go through the approval process.

Delivery and set-up fees (as well as a television licence, if applicable) form part of the price you see online. So, no stressing about moving furniture into the house or setting up that fridge. Teljoy will take care of it all for you. And, as an additional value-add, for a nominal additional monthly fee, consumers can take out the Teljoy Easyfix Maintenance plan that covers up to eight units with call out fees, spares, repairs, and even replacements when needed.

“RTO is the most affordable, hassle-free, and user-friendly way to live the lifestyle you want without having to stress about credit, repair bills, and even how to get those luxury goods delivered and set up. Our well-established brand name and experience in the market makes us the leader, giving you the peace of mind you need that this is a viable option for just about any household items you are looking for,” he concludes.

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