Are you looking for a new place to live? If so, you may be wondering when it is preferable to rent your furniture.
Furniture rentals are popular across a wide range of groups. Those who rent furniture include:
- Individuals starting a new job in a new city
- First-time renters
- Members of the military
- Those with short-term work projects away from home
- Students and academics
Some longer-term tenants also welcome the convenience of furniture rentals. Busy individuals, from parents to professionals, may value the convenience inherent in renting furniture.
Renting Furniture: Pros and Cons
Furniture rentals offer tenants flexibility, short-term savings, and a wide choice of styles.
Flexibility
Renting furniture may be an excellent idea for first-time renters who want to hold off on furniture purchases until circumstances permit. Avoid paying for furniture you might not need or want anymore. Avoid the need to move large pieces of furniture when you move. DIYers may not need to rent a van or trailer for their next move.
Furniture rentals often reduce concerns over delivery methods and warranties. Professional delivery eliminates the need to lift bulky items and maneuver them up to your apartment. If there’s a problem with an item, the furniture rental specialist handles a warranty claim.
Keep in mind that furniture rentals are not an all-or-nothing proposition. It is possible to complement your existing furniture by renting only what you need.
Savings in the short-term
The shorter your stay, the more furniture rental makes sense. Although 12-month contracts are common, some furniture rental firms will rent you furniture for as little as 30 or 90 days. Even if you already own furniture, it might not be efficient to haul it out of storage for a shorter stay.
Access to stylish furnishings
Companies specializing in furniture rentals may source products from dozens of suppliers. Furniture quality is vetted as the company gets a sense of what wears well. Switching furniture styles as you please becomes an option, although you will incur added delivery and other costs.
Sustainability
More of today’s renters factor sustainability into their decisions. Rental companies often refine their means for recycling furniture when it reaches the end of its useful life. They might systematically sell retired inventory, or they might refurbish it. In general, furniture rentals tend to reduce the burden on landfills.
Potential drawbacks
Renting rather than buying does have its drawbacks, as convenience comes at a price. Those monthly payments add up over time. After 12-18 months, the cost to rent may exceed the cost to buy. Renting furniture is a little like leasing a car. At the end of the rental term, you have nothing to show for your investment. Some tenants prefer the feeling of owning over having someone else’s property in their home.
Renting Furniture: A Step-by-Step Guide
Follow these steps to ultimately enjoy the rental furniture you prefer.
Locate: Find furniture rental specialists in your area by doing an internet search. For example, “furniture rental for apartments in Chicago.” Check out the online offerings of furniture rental specialists to match furniture with your interior decor preferences. Some companies offer hundreds or even thousands of choices.
Key items often include:
- Bedroom(s): bed, dresser, nightstand
- Living room: Sofa, chairs, coffee table, end tables
- Dining area: Table and chairs
Further reduce future moving needs with everything from housewares to linen packages. You will find that some services are willing to design complete, customized packages matched to your preferences.
Research: Choose a furniture rental company with care. Thoroughly explore online reviews. Your property manager may even have some ideas. Look for a company with a reputation for treating customers well and for completing deliveries in an accurate and timely manner. Distinguish between furniture rental specialists and rent-to-own companies.
Select: Identify furniture in a style you like, at your favored price point. It is often ideal to choose furniture less prone to wear-and-tear — hardwood over pine, for example.
Sign: Carefully review the rental contract before you sign. The total monthly payment should be clearly stated. Note that various charges often increase the advertised basic rental cost. Ask whether the quoted price includes setting up the furniture in the desired rooms. Inquire about other expenses like a deposit, delivery fee, service charge, and insurance. See if there are any pick-up or cleaning fees due at the end of the rental term.
Deliver: Arrange for a convenient delivery time. Inspect the furniture as it is being delivered. While damage or defects are unlikely, it is still wise to be vigilant.
Alternatives to Renting Furniture
There are alternatives to renting when you need furniture for your apartment home.
Buy pre-owned
Thrift stores and resale shops offer a way to save big on furniture purchases. For example, you might find a very functional dining room table for very little money. Just make sure that it is easy to transport.
Buy new
Furniture stores typically offer the convenience of in-home delivery. Keep in mind that new furniture shipped from online sources usually requires assembly. Low or no-interest installment payments ease the burden of large furniture purchases. Furniture stores may offer zero or low-interest plans, with payments spread out over 24 months or more. Another possibility is a new credit card with an introductory zero percent interest rate.
Furnished apartments
Renting a furnished apartment is another option, although the possibilities are limited in some markets. Consider that landlords offering turnkey living spaces charge more for the convenience.
Furniture Rentals and Luxury Apartment Living
Combine stylish rental furniture with a modern, amenity-rich luxury apartment. For example, Tempo Nine Mile is a new development in southeast suburban Denver, CO. Consider furniture complementing the plank-style flooring, quartz countertops, and stainless steel appliances.
In Austin, TX, DK Riata offers high-end features like plank-style flooring, granite countertops, island kitchens, and nine-foot ceilings. In Phoenix, AZ, amenities at Senita on Cave Creek include hardwood-style flooring and vaulted ceilings with crown molding.
Draper and Kramer is a family-owned, full-service real estate firm founded in 1893. D&K manages luxury apartment communities in Illinois, Missouri, Arizona, Colorado, and Texas.
Considering furnishing your apartment without the upfront cost? This guide explores the pros and cons of renting furniture, who benefits most from it, and the key factors to consider before choosing between renting, buying, or moving into a furnished apartment.
