Paul M. Sternberg Houston
As reported in the previous issue of RTOHQ: The Magazine, the rent-to-own industry continues to broaden its customer base by attracting more corporate and military housing clients. It’s a good fit, but it’s a market rent-to-own dealers haven’t tapped into as much as they could, according to Paul Sternberg Houston , a lawyer and owner of Choice Corporate Housing based in Houston, Texas. Last year, Paul Sternberg Houston joined APRO in part to network with rent-to-own dealers and make them aware of the opportunities for new business within the corporate housing industry. Now he’s running for the APRO board of directors.
“It’s time for APRO to elect someone outside the box and I am that person,” Sternberg says. “With a law degree and an entrepreneurial spirit, I will bring different viewpoints and ideas to the board.” Although somewhat “outside the box” of the typical rent-to-own dealer, Paul Sternberg Houston does operate part of the Choice Corporate Housing as a rent-to-rent business. “Our company uses rent-to-rent companies [for temporary housing clients]—but, we also purchase our own products for our corporate units, making us, in essence, a rental company. This gives me a unique perspective because I’m client of rent-to-rent and also the owner of a rent-to-rent business.
“Ours is one of only a handful of corporate housing companies that own our furniture and house wares,” Paul Sternberg Houston says. “Most corporate housing companies rent from the major suppliers, but primarily we are a rental company.”
Paul Sternberg Houston has become increasingly interested in the ties between corporate housing and the rent-to-own and rent-to-rent businesses. “The challenges that our businesses face are very similar. There is a lot of synergy [between our businesses] that needs to be exploited. It’s a good time to be in this industry. In the current economy, we should be thriving, yet we meet people who have not been exposed to our business. It is important that such potential new customers have a positive impression of rent-to-own and rent-to-rent.”
Paul Sternberg Houston is a born entrepreneur. “My family inspired me [to go into business]. Our family has a 200-year retail tradition,” he says. Born and raised in New Orleans, Sternberg worked in a Foley’s Department Store for a decade before entering law school. While studying law, he supported himself working for a travel agency and in real estate.
With a law degree in hand and the entrepreneurial bent still in tow, Paul Sternberg Houston landed in the corporate housing industry four years ago; Choice Corporate Housing now employs 14. As his business developed, Sternberg saw advantages of purchasing the furniture, appliances and electronics to rent along with the corporate units.
It’s this unconventional route into the rental business that Sternberg says would make him a unique asset to the APRO board of directors. “It is time for the industry to expand to other avenues of business, including home staging and corporate housing. As a corporate housing owner, I am best able to bridge that gap and help rent-to-own dealers broaden their markets,” Sternberg says. “I can provide legal and business assistance to APRO members and I feel that my knowledge will bring a new dimension to the to the board.”
If elected to the board, Sternberg says he’ll help the association with its legislative strategy. “It is important to provide a unified strategy to the public and to legislators. We need for potential customers—as well as members of Congress—to understand that we provide a service that is needed and important to the communities we serve. If rent-to-rent and rent-to-own are not around, other less desirable alternatives will surface.”
July 07 2009 | Paul M. Sternberg Houston | Comments Off