Major Builder Uses "Rent To Own" Program In Effort To Unload Unsold Inventory

Reuters reports:

• Toll Brothers Inc., the largest U.S. luxury builder, [last month] said it was expanding its rent-to-own program to Hoboken, New Jersey, across the river from Manhattan.

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• Toll Brothers has a rent-to-own program in one of its Brooklyn condos and will start such a program in a Hoboken building as well, Chief Executive Robert Toll said during a company conference call. The company also has similar programs in Scottsdale, Arizona; Singer Island, Florida; Washington, D.C. and Pennsylvania, Toll said.

For the story, see Toll Brothers expands rent-to-own program.