Rent, refurbish, return
New rental options for interiors allow reasonable makeover
How many times have you bought a piece of furniture or a home accessory and regretted it because it did not fit in your home? When it comes to your home, most buying decisions weigh heavily on consumers–the products often cost a lot, are too trendy or end up not offering the utility they promised. And you’ re stuck looking at that statement chair, expanding bureau or coffee table every day.
It’s probably why furniture and home-décor rental services are becoming popular in big cities. On offer is everything from furniture and home appliances to art and accessories at a fraction of the retail cost. And yes you return what you don’t like or when you’re done.
Renting furniture works especially well for small homes and nuclear families, where convenience and mixed-use objects are the key to the smooth running of the household.
“Renting also solves a lot of problems for the people with transferable jobs,” says Sidhant Lamb a, founder, Fa br en to .“Earlier they would have to sell their products each time they had to shift or would pay extra to relocate the objects and alliances. Renting comes with free delivery, setup and installation.”
Start-ups-and-co-working-spaces have taken well to renting office furniture and supplies. But residential buyers are fast taking to subscription based models to furnish their homes. “Consumers can choose from varied categories, with a minimum rental period of usually three months,” says Neerav Jain, founder and CEO of City furnish. There are also options to buy what you’ve been renting .“It’ s hassle free and convenient if you want to change your home’s look often. Choose the product(s) on the company’s site, complete a simple verification process and the products will be delivered within 72 hours of placing the order.”
YOURS, FOR A WHILE
The best part about using rental services is that the companies have designers and consultants on board to offer advice on what might work best for your home. Akshay Bhatia, founder and CEO of Mutterfly, says their website has a customer support team to help with suggestions. “We look to understand the occasion or need of the customer,” he says. “This helps us recommend suitable products and we also describe the impact this will have by sharing our past customer stories .”
In furniture, the queen sized bed is the most rented item, followed by sofa sets and dining sets. Among consumer electronics, refrigerators and washing machines are the most rented items, apart from LED TVs and microwaves. With more focus now being on maintaining the dynamism of a space, consumers are gradually re ali sing that rentals might just be the most sensible way forward.
Aagam Mehta, co-founder of the Floating Canvas Company says, “For many people, experience now trumps ownership. When it comes to elements like art for example, it is a matter of evolving tastes.”
While buying an artwork can be prohibitively expensive, the same amount invested in a subscription service for art allows customers to enjoy a rotating selection of works.
A recent PWC study suggests that the shared economy in India is valued at $1.5bn with future projections of $10bn by 2030. And if you are the kind that likes to change the look and feel of your home more often than not, you are in for a treat – just rent it.
In furniture, the queensized bed is the most rented item.
Startups, coworking spaces are now getting vintage desks and workstations on rental basis.