If you’ve got this far and you’re still not quite sure what a rent-to-own (RTO) container is, we’ll clear that up right now. In order to understand how (rent-to-own works), it is helpful to first ask what (is a rent-to-own container).

A rent-to-own container is a shipping / storage container that is leased on a monthly basis with part of the rental fee going toward leasing services and the rest toward the base price of the container, accruing until full ownership at the end of the rental term.

Basically, the rent-to-own agreement provides monthly payments in order to pay off the desired container. Once the original price of the container is paid off through these monthly payments, the container is fully owned by the renter/buyer.

Put simply, a rent-to-own container works by creating a contract for a homeowner (lessee) to lease a storage container for a specified period of time (usually 24, 36, 48, or 60 months) at a set monthly rate, with ownership of the container transferred to the lessee upon completion of the rental period. During the rental period, part of the monthly fee covers leasing services and the rest is applied to the cost of the container.

That’s a real brief overview! Now we’ll dive further into the specifics of exactly how a rent-to-own container works by answering some common questions about the rent-to-own process.

No, rent-to-own is an alternative to traditional financing. The main difference between financing and rent-to-own is this: financing is a loan with credit implications; rent-to-own is a lease agreement.

With traditional financing, you are required to file a credit application which will then be reviewed by the lender who will either grant or deny the loan. If you default on a loan or even return the property (in this case, your container ) early without fulfilling the full terms of the loan, your credit score will (almost always) be affected negatively.

With a rent-to-own contract, you are not required to fill out a credit application. If you choose not to complete the full rent-to-own payment period for your container, you can return the container at no cost to you (assuming you are up-to-date on all payments.) Otherwise, once you fulfill all your monthly payments the container is yours, no strings attached!

No, a rent-to-own container does not affect your credit score. Rent-to-own agreements do not require a credit check because they are not loans. If you decide to end the rent-to-own agreement early and return the container, there will be no negative effects on your credit score.

More recently, some credit bureaus have begun tracking renter credit (separate from traditional credit reports.) While still very uncommon for rent-to-own containers, this newer type of rental credit score could eventually allow rent-to-own customers to build a good credit reputation by faithfully meeting their monthly container payment requirements.

The short answer is, “It depends.” The cost of a rent-to-own container is based on two things: 1) the starting price of the building and 2) the length of the rent-to-own agreement.

To understand your monthly rent-to-own container costs, it is important to know that there are terms within which you are required to pay off your container. Most companies offer rent-to-own terms in 24, 36, and 60-month periods.

When purchasing a rent-to-own container, you will choose one of these payment periods which will determine your monthly payment amount. Shorter rent-to-own container payment periods have a higher monthly payment amount, but a lower overall cost-to-own.

Yes! One fantastic piece of how rent-to-own containers work is this…In most cases, you can pay the remainder of the price of your container as soon as you want. You are not bound to the monthly payments of your chosen rent-to-own term, to ride it out to the end. At any point during your rent-to-own payment agreement, you may finish paying the whole price of your container and become the exclusive owner immediately after that final transaction.

Keep in mind that, since part of each monthly rent-to-own payment goes toward leasing services, only a percentage of past payments will count toward the overall purchase price of the container. That percentage will usually be stated in the rent-to-own container contract/agreement.

Some rent-to-own companies charge an early purchase fee if you want to pay off the remainder of your building price early.

No, not during the rent-to-own payment period. You may have heard a lot about tiny houses, she sheds, and man cave sheds. Perhaps these ideas have piqued your interest, but before you start planning on remodeling your rent-to-own container, listen up!

In addition to explicitly forbidding the use of a rent-to-own container as a dwelling, most rent-to-own contracts also specify that for the duration of the rent-to-own agreement period:

• No alterations may be made to the rent-to-own container.

• Nothing may be fastened to the rent-to-own container, including signs, equipment, etc.

• The rent-to-own container may not be affixed or attached to the property in any way, such as fastening it to a foundation.

Once the rent-to-own agreement is completed and you are the full owner of the container, you’re free to live in your container and make any alterations you want (assuming your local municipality allows it.)

No. Most rent-to-own agreements specify that the container is not to be used for housing animals during the rent-to-own period.

Here again, you do not receive ownership of your rent-to-own container until you have paid the last dollar agreed upon in your original contract. Once you are the owner of the shed, you are free to convert it into animal housing.

Don’t worry. Like we already mentioned, there are no strings attached. If at any time you decide you no longer want your container, you are not bound to fulfill the remainder of the rent-to-own payment agreement.

If all payments are up-to-date at the time of your decision to discontinue the rent-to-own contract, then you are no longer required to continue monthly payments. Simply notify your rent-to-own company that you wish to end the agreement and the rent-to-own container will be picked up from your home or property at no cost to you.

Yes! If your budget is walking the fine line between the rent-to-own route or immediate purchase of your container, a used rent-to-own container might solve your budget’s tension once and for all!

When someone prematurely ends a rent-to-own agreement on a container, the building is repossessed. Often these containers will end up back on the sales lot at a discounted price. Usually, these containers are marked as, “used, “pre-owned”, or “repo”. If you’re a superstar for catching good deals, keep your eyes out for any containers tagged with those words. You might find the perfect fit for your desired storage container and your budget.

Here at Container Pro , we stock used containers in our inventory. They typically don’t stay on the sales lot very long, but we welcome folks to contact us to see what used containers are in stock at any given time.

It depends. If you plan to own your container long-term, up-front payment will give you the lowest cost-to-ownership of any payment option. Whenever possible, we recommend that our customers pay for their building with cash or check. In fact, even putting your container purchase on a credit card (if possible) is often cheaper overall than buying with rent-to-own payments. (This assumes you make monthly payments on your card of a similar amount to a monthly rent-to-own payment.)

Rent-to-own is a great option for short-term storage or any situation where the alternative is self-storage, as highlighted below. If you need storage now, but can’t afford to buy a container upfront, rent-to-own may be a good choice for you.

It depends on what you’re comparing to! A rent-to-own container always costs more than buying the same container with a one-time payment. However, the overall cost is usually the same or less than renting a self-storage unit for the same time period.

The extra cost of a rent-to-own container (compared to a one-time payment) is due to the leasing services that the rent-to-own company provides during the rental period.

If you’re thinking you might miss your self-storage unit, a smarty-pants response would be, “only if you will miss repeatedly running across town for your storage items.” In all seriousness, though, check out the benefits of a rent-to-own container vs. self-storage and decide for yourself.

Ideally, if your storage is going to be used often, a rent-to-own Container is better equipped to satisfy your needs. Also, consider rent-to-own if your items will require long-term storage. It is helpful to think about your rent-to-own container as a long-term investment. The inescapable fact remains, you will owe a monthly payment for either self-storage or a rent-to-own container.

The key distinction between the two is worth considering. At the end of years of paying monthly dues, one option will allow you to walk away with a storage container and the other leaves you with nothing. Plus, with rent-to-own, not only will you own your container, but you will also increase the value of your property.

Ultimately, you will have to literally “count the costs” for whether you want to stay faithful to your self-storage unit or go with a rent-to-own container. Just remember how a rent-to-own container works when making your final decision.

If you’re considering the purchase of a rent-to-own container, it’s helpful to know how the entire process will work. Here’s a step-by-step overview of the rent-to-own container purchasing process:

Step 1: Look At Your Budget

As discussed above, you will pay less overall if you purchase your container with a one-time payment, even if that means putting it on a credit card. However, if that isn’t an option for you, now is the time to discuss in-depth with Container Pro about a rent-to-own payment plan.

These are some questions and clarifications you should discuss…

1. In how many months do you want to pay off your shed? The terms available are generally 24, 36, 48, and 60 months.

2. What are the upfront payments that I need to make? These usually include one or two months’ payment(s)

3. Are there any extra fees that you need to be aware of? (For instance, at Container Pro we require a security deposit for modified containers, special order containers and for 60-month RTO (rent-to-own) contracts.

Step 2: Choose A Container

Whether you shop online or visit one of our lots lot in person, you’ll need to pick out a container that meets your needs. At Container Pro, we supply Kentucky, Tennessee, Ohio, Indiana, West Virginia and Virginia with a variety of container types including 10’ – 20’ – 40’ new and used containers. Standard containers, double door containers, side open containers, side roll up door containers and modified containers to fit your needs.

Step 3: Finalize Container Details

Discuss with your Container Pro any questions, concerns, and customization needs your container will have. Container Pro will then be able to give you the final price of the container. Container Pro will let you design a custom container and purchase it through a rent-to-own agreement.

Step 4: Sign the Rent-To-Own Agreement

When you’re ready to commit to the purchase of your container, you’ll have a chance to review the rent-to-own agreement. Often, this agreement is with a third-party rent-to-own company that the container company uses to provide their rent-to-own services.

Once you’ve reviewed the contract, your signature is required to finalize the rent-to-own agreement.

Step 5: Make First Payment

Once the contract is signed, you’ll be required to pay one month’s rent along with the sales tax. As stated previously, this payment will be determined by the size of your shed, any special customization that your building includes, and the length of your rent-to-own agreement.

Step 6: Accept Delivery of Your Container

Your new container will soon be delivered to your house! The exact time until delivery will vary depending on whether you’re getting an in-stock container on a sales lot or having a container modified.

Once you make your monthly rent-to-own payments for the length of your chosen term, you’ll own the entire container. Rent-free!

Did we forget anything? Oh yeah, the strings…wait! There are none! Enjoy your container from Container Pro!

If you’re thinking of purchasing a container…you might be wiser than you realized! A backyard container is one of the most reasonable, most popular, and most attractive ways to begin taking steps toward a clutter-free and more efficient life where you are the boss of your stuff!

There are many reasons out there for buying a container, but maybe you fit into one of the following categories:

• You are fed up with your disorganized storage.

• You are gearing up to start a home-based business or office.

• You are tired of running across town to your self-storage unit.

• You are looking for a way to increase the value of your home and property.

But Your #1 Reason is Probably…Affordability!

Whatever your reason for landing on this page, your #1 reason is affordability! Rent-to-own containers are designed to provide an easy, affordable way to own a container. Rent-to-own containers offer the flexibility of a self-storage unit, at a similar or lower cost, while building the value of your property!

Now that you know how a rent-to-own container works, it’s up to you to decide which type of container is right for your property.

It doesn’t take much searching online to find horror stories of predatory rent-to-own companies and customer service gone off the rails. At the end of the day, your container buying experience will only be as good as the company you purchase from. It probably doesn’t need repeating but always check a container company’s reviews on a third-party platform (like Google) before making a final purchasing decision.

Additionally, review the terms of your container company’s rent-to-own contract before signing. An honest company should have no problem with sending you a copy of the rent-to-own agreement for you to review ahead of time.

When it comes to making deals, purchases, and investments, you deserve to be treated fairly and with open honesty. This includes not only the financial side of things but also the quality of the container in which you are investing your hard-earned money!

About Us

At Container Pro Kentucky we are dedicated to offering quality containers, dealing honestly, and working for the complete satisfaction of our customers. We offer Rent to Own Containers in Kentucky, Tennessee, Indiana, Ohio, West Virginia and Western parts of Virginia.

If you’re in the area, stop in and visit us and see our rent-to-own containers for yourself. We’re happy to answer any other questions you have about how rent-to-own containers work!