Furniture rentals: A growing trend that is not just for the budget-constrained

[ecis2016.org] Renting furniture is no longer an indication of budget constraints but rather a wise move to save money. We look at the scope and feasibility of renting on a financial level

The rental segment in India has undergone a sea of change with people increasingly opening up to the concept of renting. A decade ago, getting a house or furniture on rent was mostly done due to budget constraints. However, renting has lately emerged as a popular trend that is seen as a smart move and is no longer an indication of financial setbacks.

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Practical benefits of renting furniture

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Industry experts point out that while renting furniture is a new concept that has emerged lately, people in tier-1 and tier-2 Indian cities have shown no reservations in renting furniture. “There are several tangible benefits attached with the leasing of furniture. The primary benefit of having to use the finest furniture without having to bother about disposing of it on account of relocation” says Geetansh Bamania, founder, RentoMojo. Besides college students, even professionals, VPs, and senior managers from MNCs have immensely benefited from this new vertical. “Rental furniture is a very attractive proposition because one gets their hands on unconventional and trendy pieces of furniture that will add to the grace of one’s home till the trend is on and then, something else takes its place. There is no need to invest in an object that will only depreciate going further,” says Avinash Jain, VP (Marketing) with a prominent telecom company.

Refresh your home interiors

Is it possible to change the décor of your rooms without having to incur a huge capital expenditure every time you make such a change? If one opts for the traditional way of buying furniture, it will most definitely burn a hole in one’s pocket. However, with the availability of online furniture rental portals, one can change the look and feel of the living space in a cost-effective manner. A three-seater or an L-shaped sofa can be seamlessly replaced by a two-seater sofa along with a plush recliner. With the rental format, one can go for a home makeover periodically, at a fraction of the cost. Moreover, a makeover for your home is a great occasion to invite your friends and relatives.

Rental furniture: An ideal option for entrepreneurs

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In addition to your home, renting furniture can also be useful in building little spaces that you may use as your office, especially for unconventional businesses. “While stepping into the entrepreneurial side and opening my office, the focus was on product building and having a good team, while mitigating costs. As we cater to the fashion segment, it is always good to have a makeover periodically, in everything we deal with, including our office. This is only made possible by renting furniture that is trending,” says Teja Doshi, a fashion designer and boutique owner from Gurugram. Opting for rented furniture while starting a business reduces initial investment and thereby, shortens the break-even period.

Furniture on rent: How does it work?

You can simply start by navigating to the online rental brand’s website or app and place a request for your product based on your preference and tenure plan. The same will be delivered to your doorstep in no time. An agreement is drawn between the consumer and the rental company that includes details broadly in terms of the charges, deposit amount, time frame for the delivery and relocation, among others.

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Property Trends