Celebrating its 25th year, TARA remains one of the most active state associations in the country.

Photo RTO Online

Herb and Rosemary Weisblatt, Sam's Appliance & TV Rental, at Lone Star Park Saturday.

Members of the Texas Association of Rental Agencies (TARA) kicked off their 2008 convention at Lone Star Park in Grand Prairie near Dallas Saturday. The event was sponsored by Nationwide Southwest and RentDirect Nationwide.

See 50 photos from the event here.

Celebrating its 25th year, TARA remains one of the most active state associations in the country. Ed Wisdom, owner of Rent City in Grand Prairie, Texas, says his membership has paid great dividends - and in more ways than just providing a networking platform. "TARA has helped improve our business in real ways with things like clarifying Liability Damage Waiver, setting reasonable late fees and working through the used bedding issue. It's well worth the dues."

During the 2003 legislative session, TARA Members successfully lobbied to define the sale of LDW (Damage Waiver) as well as the timing and maximum amount for late fees.

Texas State Representative Burt Solomons, Chairman of the Texas House Financial Institutions committee will speak to TARA members this week. "Everything in Texas that has to do with rent to own contracts goes through Representative Solomon's committee," observed Dan Matthews, President of TARA. "He has been a friend of TARA for many years, helping us with the late fee bill and getting a hearing on Liability Damage Waiver. His help has meant a great deal to TARA and the RTO industry."

Solomons has served on the Financial Institutions committee since 1997 and has been appointed chairman for the last three sessions by Speaker Tom Craddick. He previously served as Vice-Chair under former Representative Kip Averitt.

Photo RTO Online

Ed and Cathy Wisdom, Rent City, at Lone Star Park Saturday.

After what several independent dealers in Texas describe as a "slower than usual summer," business has picked up considerably since mid September and owners expect to end the fourth quarter at, or slightly below 2007. Ed and Cathy Wisdom are happy to see the turnaround. "We're really excited that we're seeing progress," Ed Wisdom said.

Wisdom began his rent to own career 30 years ago with Willie Talley, opening one of the first company-owned ColorTyme stores on Buckner blvd in 1978.

Wisdom worked for RTO entrepreneur Clyde De Loach for 17 years before buying the 6,000 sq ft Grand Prairie location from De Loach in 2003. Rent City serves a large area that includes Grand Prairie, Arlington and Dallas. "We go out 15 miles but we require monthly agreements for remote customers," Wisdom said. The majority of Rent City customers renew weekly.

Wisdom says that price is still an important factor in consumer decision making when renting appliances and TVs. 90% of Rent City's appliance business continues to be traditional top-loading pairs. "Everybody wants front load," Wisdom said. "But the cost has to come down a bit before they begin to replace top loaders." The company's most popular TV continues to be the 42" LCD. LCD out-rents plasma due to price considerations as well, Wisdom noted.

Dan Mathews said TARA is expecting over 150 people to attend this year's meeting. "Our objectives this year are to educate members on several key political issues in the state, including an update on used bedding."

"Keeping the association active is especially important this year," Mathews added. "Things are uncertain with the economy. It's nice to talk to people who are in the same boat as you...and maybe get an idea that may help you down the road."

TARA will host its annual golf outing today (Sunday) followed by a Silver Anniversary Reception at the Sheraton Grand DFW tonight.

Please check www.rtoonline.com for updates.