The RISE of RENTALS
Gone are the days when renting was limited to DVDS, cars or property. Now you can hire everything from clothes to furniture as and when you need it. But will renting ever replace owning something outright?
The next time you need an outfit for a special occasion or the sofa needs replacing, will you automatically look to buy something new or consider renting instead? Hiring clothes is gaining popularity
– as is renting art and baby goods – while John Lewis & Partners recently trialled a furniture rental scheme in partnership with rental marketplace Fat Llama.
The appetite for temporary ownership is certainly growing: experts predict the sharing economy – where products are borrowed by different users – will be worth $335bn globally by 2025*. And it’s not just a passing trend for millennials, either. A recent report by insurance firm Allianz Global Assistance saw a 5% increase in people over 55 using sharing economy services. It’s a trend that offers greater choice while spending less – with added environmental benefits, too.
WHAT’S ON OFFER?
The options for renting clothes and accessories are plentiful. For high-end fashion, try Hurr (hire a £1,500 Lanvin dress for four days for around £184) or My Wardrobe HQ (a £995 Roksanda midi dress can be hired for £18 per day). My Wardrobe HQ also offers a subscription: £59 a month for two items, £79 a month for four.
Hirestreet offers rentals from brands such as Oasis, Lipsy and French Connection at a rate of around 20% of the RRP, so instead of shelling out £150 for a wedding outfit, for example, you could hire something for £30. At John Lewis & Partners, you can hire an L.k.bennett dress worth £299 from around £39 for four days.
Fans of winter sports can rent everything from winter socks to ski helmets from Ecoski. For an adult, expect to pay from £185 for eight days’ use of the basics (jacket, ski pants, gloves, helmet, goggles and base layers), or from £140 for a child.
Meanwhile, All In Waves rents out baby equipment such as travel cots (from £12 per week) and pushchairs (from £25 per week), which can be handy when guests with young children come to stay.
When John Lewis & Partners recently experimented with a rental service for furniture and homewares, costs started at £6 per month for a desk chair and £32 per month for a three-seater sofa. While the initial trial proved popular, the service is being tweaked before a wider UK rollout.
In the meantime, Instant Home delivers and installs furniture nationwide. There’s no minimum hire period, but users must rent at least eight furniture items and spend a minimum of £1,140, plus a variable delivery and collection cost. Installation and removal of packaging is included in