Trying to furnish a house or an apartment can be a fun project but it can also get very costly. For many renting furniture is the only option. To rent furniture individuals typically visit a rental store, pick out an item and are quoted on how much it will cost them per month or week. Some stores may allow you to rent with the option to purchase however most are simply just for rental. Below are a few pros and cons to renting furniture.
The pros involved with furniture rental include:
1. Small out of pocket cost
One of the biggest reasons why people rent furniture is because the cost of buying furniture is often just too high. Renting furniture is a lot cheaper and individuals have the option to pay monthly or weekly rather than pay one large lump sum at once.
2. Great for short-term use
Renting furniture is also a great option for those who are only looking to purchase furniture for a short time use. This is perfect for individuals who may be moving soon or are looking for a permanent residence and do not want to invest in furniture just yet. To determine the cost effectiveness of renting versus buying consider how long you will need the furniture for.
3. Perfect for parties
Furniture rental is actually a great option for parties and events such as the Super Bowl. Many rental companies now offer large screen TVs, couches, computers and much more. Homeowners can throw a more lavish party without having to invest in bigger items.
4. Rent to own
There are there are some companies that allow individuals to rent to own. This means they will rent the item on a weekly or monthly basis and once all payments have been completed they will then own the item in the end. Although this does sometimes cost some extra money it is a great option for those who need a payment plan for purchasing furniture.
Cons associated with renting furniture may include:
1. Can get costly
Overtime renting furniture can get very costly. If individuals are renting for an extended amount of time they may end up paying more than the actual item is worth. The cost effectiveness of this is not worth it in the end for many people.
2. You’ll never own It
One huge cons to renting furniture is the fact that some companies do not offer a rent-to-own option so you will never be able to own the furniture you are using.
3. Keeping It lean
Another con of renting furniture is the fact that the item needs to remain in clean working order. This can sometimes be hard especially if you have young ones or pets in the house.
4. Credit checks
Some rental companies nowadays run a credit check or will determine your income to see how much a payment would be per month or per week. For some individuals this may not be good as they may have low weekly income or a low credit score that can drive the cost of the item up.
Overall there are many different pros and cons to renting furniture. It mainly depends on income, how long the furniture is needed, and a variety of other factors. For those who may not be able to purchase items outright furniture rental is a great option. For those who may be able to afford purchasing it may be better to just purchase the items rather than rent. It all depends on personal situation..
