WHY BUY WHEN YOU CAN RENT?
When relocating is a constant occurrence, the most time consuming task is packing up and transferring household items. With almost everything available on the internet, it is not surprising that one can now rent furniture as well.
TEXT: LEANDRA MONTEIRO
New furniture subscription services are addressing a shift in the way consumers think about ownership and commitment. The millennials that don’t want to buy homes and commit to one location are the same group of people that want the freedom to pick up and move without a sofa tethering them to a single city.
With the focus on global mobility increasing, furniture rental companies have found a solution to the tiresome process of packing and moving. Right from dining sets to bedroom sets, kids furniture and office furniture, there’s a lot of different choices to pick from.
The furniture renting companies work on a subscription-based model where customers can either choose the packages or specific furniture items they want. Furniture rental companies generally have few vendors who do contract manufacturing for the companies. As the furniture rental companies business is online that does not require brick & mortar store, they are able to make profits.
Sidhant Lamba, Founder, Fabrento shares “India is witnessing a sudden surge in furniture renting demands and this want is here to stay. It’s certainly an interesting concept and millennials are the major players to have brought this sector into the spotlight. Renting has proven its worth time and again especially when the stakes are money and time. India has finally realized that they too can flaunt comfortable and trendy furniture without shelling out thousands and thousands of money”
Ajith Mohan Karimpana, Founder and Chief Executive Officer, Furlenco stated, “In India it’s about uncertainty. People who have transferable jobs, or those who have just moved to a new city or families that are looking for better furniture are those weighing on the option of renting furniture. We are targeting expats who have moved to India as they are the most in need of furniture on rent.”
Other than just home rental furniture, companies like Furlenco, Rentomojo, CityFurnish, GrabOnRent, Ambassador Rentals, Rentickle to name a few have taken the rental market a notch higher by offering office and conference furniture and equipment rentals for companies with a need to hire.
These companies enable a customer to rent state-of-the-art furniture at affordable prices with free assembly. One can opt for rental periods of 3, 6, 9 and 12 months. Most companies ask for a deposit amount that needs to be paid at the start of the service, which is given back to the customer once they complete the renting period of the furniture.
Sidhant Lamba adds “In this growing economy, furniture is a costly yet it is a vital element in an office, especially if it is a start –up company. The office décor needs to be functional as well as add a aura of professionalism. A gloomy office decor can lead to a drop in energy levels of the employees, ultimately affecting the productivity.”
Furniture rental other than being an agile solution is also sustainably forward. About 9.7 million tons of furniture end up in landfills every year. These services help make the business more sustainable by refurbishing and reusing furniture that one doesn’t wish to carry ahead.
RENT FOR HOME
- MONEY SAVER
Simply rent a furniture piece and try it out at home, see if it goes with the décor and whether it’s functional for your daily life. This decision will save a lot of money and time.
- NEW CITY DREAMS
Instead of carrying old bulky furniture or hurriedly buying new ones, simply rent them. People are now simply going online, renting their favourite bedroom, living room and dining room sets and getting it delivered and set up.
- LOVE CHANGE
Millennials of India love change. Constant things tend to bore them. Renting furniture gives them the opportunity to experiment with new décors without the fear of expense.
INDIA’S STARTUPS OPTING TO RENT
- BUILDING AN OFFICE AURA – Office décor should be professional yet comfortable, bright but not sore to the eyes and functional but not boring. Rental services pay special attention to keep the design modern and sleek since old bulky furniture is a strict no-no for an office environment.
- NO MONUMENTAL MAINTENANCE – Office furniture needs a lot of maintenance, many rental services provide complimentary maintenance services. They are done by professionals ensuring the longevity of office furniture.
- WORKS WONDERS WITH TIGHT BUDGETS – Office furniture costs more than home furniture because they needed to be bought in bulks. Thus, renting furniture for your office is a practical and wise decision, adding to business bottom-line growth.