Aamir Khan is amongst the growing tribe of stars who are investing in startups. He investing over two crores in the furniture rental startup Furlenco has been in news recently. Earlier, renting furniture was considered the last option for someone who couldn’t afford but wanted to show off a better lifestyle. But times are a changing. The younger population today has more mobile careers, on-the-move lifestyles, and makes here- and-now financial choices. Renting furniture is therefore hardly taboo, rather is being considered a smart choice. Aamir, who played a 21 year old in 3 Idiots while being more than double the age, perhaps can think like the younger generation. And he ain’t no idiot we know !
We bring to you some benefits of renting vs buying furniture and appliances, plus the several options available in the market to help you do so.
Furniture is a depreciating asset – Firstly, quality furniture doesn’t come cheap (unless you are open to seconds or refurbished) and furnishing a full house or even a room is a large investment. Furniture however, once bought, doesn’t appreciate in value. It rather demands more expenditure in care and maintenance, just like a car. So when you have a premium cab service available at your doorstep, would you necessarily invest in a car? So too for furniture.
You may need to relocate/ move : If you are a professional, it is unlikely that you will be rooted to the same house or location your entire life. Based on your job opportunities, you may want to move countries, cities, or even your address in the same city to shorten your commute, be closer to the kids’ school etc. Furniture once purchased may not suit or fit the new residence. You will have no option but to make do with what you have. While selling your furniture is an option, and there are several online options to do, it is time consuming, not assured and not very good value for money.
Renting allows flexibility and variety – You have a variety of furniture to choose from across several rental providers. You can choose the look of your rooms and even do makeovers fairly easily to keep your home looking ever new. These providers offer flexibility on duration for which you can rent well as comfortable cancellation policies.
Free maintenance and hassle free experience – Most rental providers own up the delivery, installation as well as regular maintenance of the rented pieces, free of cost. You just enjoy the products, hassle free.
Free relocation of the rented pieces – Many providers will move your furniture for you, free of cost, if you are changing address within the city or to another city as well.
Meets seasonal requirements – Many appliances such as air purifiers or air conditioners may only have a seasonal demand. Why buy and maintain for the whole year something that you may need only a few months?
ALSO READ : Do a Home Makeover this new year – Furniture shopping made convenient, classy, cheap
Meets changing needs of a family – Why invest in expensive kid’s furniture when the kids may outgrow it in no time? Or why deprive the children of the pleasure of a pretty bunk bed or cartoon character cupboard thinking about its limited utility once the child grows up? Renting furniture can come in handy here.
Here are a few leading providers of rented furniture and appliances :
Rentomojo – Amongst the best in terms of convenience offered. Offers complete flexibility on duration, no minimum duration, anytime cancellation, free maintenance and free relocation, and also a unique use first pay later policy
Locations of service – NCR, Pune, Hyderabad Chennai, Mumbai, Bengaluru
You can rent – Furniture and Appliances, Bikes
Additional info- Investors include Access Partners (have invested in Flipkart, Facebook, Drop box as well) and IDG Ventures (Flipkart, Myntra, Lenskart and yatra.com)
Fabrento – Minimum rental duration is 3 months and multiples thereof. Also offers Rent to Buy option i.e. you can buy the furniture you have rented at a discounted price if you fall in love with the piece.
Locations : Mumbai/Thane, Delhi NCR, Chandigarh
You can rent – Furniture, Art and Accessories
Additional info : The company is backed by Continental Group, one of the leading turnkey interior & furnishing solutions providers of the country since 1940s
Rentickle – Similar features as above
Locations of service : Delhi NCR, Hyderabad
You can rent – Furniture and appliances, Cameras
Furlenco – Minimum rental duration 3 months, does not offer Rent to buy option, one month cancellation notice required.
Locations of service – Mumbai, Pune, Bengaluru, recently Delhi NCR
You cant rent – Furniture
CityFurnish – Offers rent to buy option, asks for post dated cheques upfront.
Locations of service: Delhi NCR, Pune, Mumbai, Bengaluru
You can rent – Furniture, appliances/ electronics, fitness equipment
All of the above seek a security deposit that is refundable. They also ask of documents such as identity and address proof, PAN card etc prior to renting out the goods.