The furniture on rent market is booming at a rapid rate. The number of companies offering furniture on rent will exceed 3 million by 2020, with commercial users accounting for over 50% of total market share. The buy and rent business model has high growth prospects, as the rising population is a major driver for this trend. Furthermore, a rising tide of national migration is fueling the market growth. The inclination towards affordable alternatives will drive growth of this segment.
The industry is gaining interest from venture capitalists. Startups like Furlenco, which offers furniture on rent, have secured over US$ 160 million in funding since 2018. This trend will likely continue as living rooms become workplaces. And the growth of furniture on rent has created a highly lucrative market for the companies that are involved in it. Listed below are the five major players in the furniture on rent market. All of them are growing at a rapid rate.
Many millennials are choosing to rent rather than purchase. With Netflix and ridesharing becoming so common, millennials are more likely to rent everything they can, including cars, electronics, clothes, and even furniture. In fact, subscription-based furniture rental services have gained significant attention over the past two years, as they provide a budget-friendly, commitment-free way to furnish your home. The companies offer various services, including a simple and straightforward online application.
The cost of renting furniture depends on the quality and type of furniture. A coffee table is going to cost less than a full living room set, while a brand-name flat screen TV will cost more than a generic one. While most companies offer varying rental periods, it is important to understand the terms and conditions of the agreement and potential penalties for damage. In addition to this, make sure to check for the length of the lease agreement. The prices are normally listed in monthly installments.
Cort, another company that offers furniture on rent, promises to deliver the items within 48 hours of ordering. At the end of your lease, you can purchase the furniture if you wish. The monthly payments are not included in the final price. Furthermore, you can exchange your furniture for another one for free within a week if you do not like it. The prices are usually cheaper in other cities outside New York. If you’re in doubt about what type of furniture to rent, Cort promises to deliver it at your doorstep in 48 hours.
Whether you’re in the market for a new couch or a high-backed office chair, CasaOne’s diverse inventory is sure to please any customer. Whether you need a couch, a dining table, or an entire living room set, they have it for you. With a monthly payment of less than $100, you can enjoy a new set of furniture within a week. And the delivery fee is just a fraction of the original cost.