[ecis2016.org] Mumbai has emerged as one of the biggest markets for rental furniture in India. We look at why more people are turning to this option for furnishing their homes
The financial capital of India—Mumbai attracts people from all over the country for its potential employment opportunities in the city. Mumbai is one such cosmopolitan city that also sees a significant influx of migrant population every year. The availability of ample career opportunities also means that there is an excellent scope for professional and financial growth. This has also accelerated frequent upgrades in lifestyle among people living in urban cities. For instance, people living in studio apartments look for an upgrade to 1BHK homes, while people living in 1BHKs look forward to moving to 2BHKs or bigger spaces.
You are reading: Mumbaikars turn to rental furniture for their home décor
Because of this constant change, many simply opt for a rented apartment even if they can afford to buy a house. Besides opting for rental housing, Mumbaikars have embraced renting other essentials too. Today, Mumbai is one of the biggest markets for furniture rental businesses in India.
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Furniture rentals: Why it is a popular option in Mumbai
Owing to expensive real estate in the city, most Mumbaikars try to strike a balance between factors like the time taken for the everyday commute, size of the apartment, location, amenities, etc. Given this, the concept of renting furniture is a boon for people. “Although I was staying with my parents in Mira Road, owing to my long working hours and travel time, I rented a studio apartment in Santacruz. As this is a short-term set-up, I opted for rental furniture, which gave me all the comfort at a fraction of the cost,” says Piya Mukherjea, a media professional. Owing to the job opportunities and the presence of several CBDs in Mumbai, it is common for people to relocate within the city. Rental furniture allows residents to avoid big investments on short-term requirements without having to compromise on the furniture. “A smarter way to live, is by leasing furniture according to the size of the house you would stay in and not renting a house according to the furniture you have,” says Geetansh Bamania, founder, RentoMojo.
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A smart way to change the décor of your house
With the emergence of online rental platforms, premium quality furniture is now available at rentals that are a fraction of the EMI to be paid for owning them. By opting to rent furniture, one can afford to change the décor of the living space smartly, without breaking the bank. Furniture rental companies also offer free delivery, pickup, and relocation across the city.
Read also : Why should landlords and tenants opt for online rental agreements?
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Furniture renting for the rich and famous
The concept of furniture renting isn’t restricted to a segment of people who cannot afford to own them. Instead, the online furniture rental marketplace serves all sections of the audience, including the niche market that prefers premium products over generic products. “A lot of our celebrity clients get their homes showcased for media coverage, and one cannot display the same set of furniture always. Rental furniture helps because the celebrity client can get it changed periodically with respect to the theme. It helps them to be trendy while keeping their costs low,” says Neha Sharma, a publicist.
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Property Trends
