One Of The Largest Home Rent-to Own Cos. Shut Down In WI

A Wisconsin state court effectively ended rent-to-own operator Vision Property Management’s ability to operate in the state, as the company’s battle with the state continues.

The move comes a part of a lawsuit filed earlier this year by the Wisconsin Department of Justice.

VPM is one of the nation’s largest operators of rent-to-own homes, but has been accused of inducing consumers into leasing dilapidated properties by offering them the chance to buy the house in the future.

Wisconsin’s lawsuit claims that VPM requires the tenants to front the costs to rehabilitate the property, pay all the overdue taxes, and resolve any outstanding building code violations associated with the property.

But, according to the Wisconsin DOJ, if the tenant does not remedy those issues within a short period of time, VPM evicts the tenant and “repeats the cycle by renting the uninhabitable property to yet another Wisconsin consumer.”

The state’s lawsuit against the company is still ongoing, but earlier this week, a state judge issued a temporary injunction in the case, which prohibits VPM from conducting many of its business activities in the state while the lawsuit is open.


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