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Why rent furniture?

Valued Contributor

Why rent furniture?

I just saw a rent-to-own commercial & I remembered my perplexity over why people rent furniture.

 

I could understand renting furniture to stage a home that's being sold or short term office furniture if there is some type of business that moves around a lot, but barring that, I don't get it.

 

When I first moved into my new home, my husband was still over 5 hours away living in our old home.  I knew he would be there for 90 days & thought "hey I could rent short term necessities like washer & dyer.  The cost of renting was so high, it would be better to purchase a new or used item.

 

What are your ideas for when it would be worthwhile to rent furniture?

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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13 REPLIES
Valued Contributor

Re: Why rent furniture?


bdhu2001 wrote:

I just saw a rent-to-own commercial & I remembered my perplexity over why people rent furniture.

 

I could understand renting furniture to stage a home that's being sold or short term office furniture if there is some type of business that moves around a lot, but barring that, I don't get it.

 

When I first moved into my new home, my husband was still over 5 hours away living in our old home.  I knew he would be there for 90 days & thought "hey I could rent short term necessities like washer & dyer.  The cost of renting was so high, it would be better to purchase a new or used item.

 

What are your ideas for when it would be worthwhile to rent furniture?


One could be in a city on a contract job, for a short period of time, say 6-9months.  They don't desire to live in a hotel, but rent an apartment or house for that short term.  Renting furniture could make sense in such a circumstance.

 

One could be from a foreign country staying in the USA for a period of time for school.  Knowing that they would be returning to their home country, they may be inclined to rent furniture rather than purchasing. ( My daughter has a roommate from China, working on her PhD.  She is doing exactly this for her bedroom furniture)

 

One could have sold a house and are building a new house, and in the meantime are living in an apartment.  Rather than moving their furntiure from the sold house, into an apartment and then moving it again to the newly constructed house, they put their furniture in storage and rent furniture for the short time that they may be in an apartment until their newly built house is ready. ( I know someone who did this, and they had absolutely no regrets in doing so )

 

One could be a student going to college on a full scholarship, hence having school expenses covered.  They are in need of short term housing not on campus, so they choose to rent furniture for the time that they are there.  Many college students stay in an apartment for only a semester/term, and move frequently.  This could be a circumstance where it pays to rent rather than buy, especially if they return home for the summer. 

 

Just some off the top of my head...Smiley Wink

EX = 849 EQ = 850 TU = 850 as of 07/2017
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Valued Contributor

Re: Why rent furniture?


thom02099 wrote:

bdhu2001 wrote:

I just saw a rent-to-own commercial & I remembered my perplexity over why people rent furniture.

 

I could understand renting furniture to stage a home that's being sold or short term office furniture if there is some type of business that moves around a lot, but barring that, I don't get it.

 

When I first moved into my new home, my husband was still over 5 hours away living in our old home.  I knew he would be there for 90 days & thought "hey I could rent short term necessities like washer & dyer.  The cost of renting was so high, it would be better to purchase a new or used item.

 

What are your ideas for when it would be worthwhile to rent furniture?


One could be in a city on a contract job, for a short period of time, say 6-9months.  They don't desire to live in a hotel, but rent an apartment or house for that short term.  Renting furniture could make sense in such a circumstance.

 

One could be from a foreign country staying in the USA for a period of time for school.  Knowing that they would be returning to their home country, they may be inclined to rent furniture rather than purchasing. ( My daughter has a roommate from China, working on her PhD.  She is doing exactly this for her bedroom furniture)

 

One could have sold a house and are building a new house, and in the meantime are living in an apartment.  Rather than moving their furntiure from the sold house, into an apartment and then moving it again to the newly constructed house, they put their furniture in storage and rent furniture for the short time that they may be in an apartment until their newly built house is ready. ( I know someone who did this, and they had absolutely no regrets in doing so )

 

One could be a student going to college on a full scholarship, hence having school expenses covered.  They are in need of short term housing not on campus, so they choose to rent furniture for the time that they are there.  Many college students stay in an apartment for only a semester/term, and move frequently.  This could be a circumstance where it pays to rent rather than buy, especially if they return home for the summer. 

 

Just some off the top of my head...Smiley Wink


Thanks Thom.  It just seemed that buying the furniture cost the same amount as renting over 3 months, but that may have just been for the items I looked at.  On the other hand, your right about the convenience and less hassle.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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Established Contributor

Re: Why rent furniture?


thom02099 wrote:

bdhu2001 wrote:

I just saw a rent-to-own commercial & I remembered my perplexity over why people rent furniture.

 

I could understand renting furniture to stage a home that's being sold or short term office furniture if there is some type of business that moves around a lot, but barring that, I don't get it.

 

When I first moved into my new home, my husband was still over 5 hours away living in our old home.  I knew he would be there for 90 days & thought "hey I could rent short term necessities like washer & dyer.  The cost of renting was so high, it would be better to purchase a new or used item.

 

What are your ideas for when it would be worthwhile to rent furniture?


One could be in a city on a contract job, for a short period of time, say 6-9months.  They don't desire to live in a hotel, but rent an apartment or house for that short term.  Renting furniture could make sense in such a circumstance.

 

One could be from a foreign country staying in the USA for a period of time for school.  Knowing that they would be returning to their home country, they may be inclined to rent furniture rather than purchasing. ( My daughter has a roommate from China, working on her PhD.  She is doing exactly this for her bedroom furniture)

 

One could have sold a house and are building a new house, and in the meantime are living in an apartment.  Rather than moving their furntiure from the sold house, into an apartment and then moving it again to the newly constructed house, they put their furniture in storage and rent furniture for the short time that they may be in an apartment until their newly built house is ready. ( I know someone who did this, and they had absolutely no regrets in doing so )

 

One could be a student going to college on a full scholarship, hence having school expenses covered.  They are in need of short term housing not on campus, so they choose to rent furniture for the time that they are there.  Many college students stay in an apartment for only a semester/term, and move frequently.  This could be a circumstance where it pays to rent rather than buy, especially if they return home for the summer. 

 

Just some off the top of my head...Smiley Wink


Many of those make since, but why not just rent a furnished apartment if it's going to be a short term solution? (Unless of course there aren't any furnished apartments available in the area)






EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
Valued Contributor

Re: Why rent furniture?

Many of those make since, but why not just rent a furnished apartment if it's going to be a short term solution? (Unless of course there aren't any furnished apartments available in the area)

 

That, of course, would make the most sense.  And in some locations, they are probably readily available.  In this college town area where I live, there's not much in the way of furnished apartments, and that's likely to be true in many college towns. 

EX = 849 EQ = 850 TU = 850 as of 07/2017
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Valued Contributor

Re: Why rent furniture?


bdhu2001 wrote:

I just saw a rent-to-own commercial & I remembered my perplexity over why people rent furniture.

 

I could understand renting furniture to stage a home that's being sold or short term office furniture if there is some type of business that moves around a lot, but barring that, I don't get it.

 

When I first moved into my new home, my husband was still over 5 hours away living in our old home.  I knew he would be there for 90 days & thought "hey I could rent short term necessities like washer & dyer.  The cost of renting was so high, it would be better to purchase a new or used item.

 

What are your ideas for when it would be worthwhile to rent furniture?


 

Renting an apartment unfurnished can save $800 to $1000 per month over a furnished "corporate" rental. Corporate rentals have vastly over blown rental fees. I was able to rent a full set of living room, dining room and bedroom furniture for $160/month - saving more than $700 per month relative to a furnished "corporate" apartment at the same complex.

 

If you are relocating for work and building a new house while family finishes out a school year at your old house, furniture rental can save serious money.

 

I signed a 6 month rent to own agreement having a month to month continuation thereafter (30 day return notification required). Did it for 9 months - it saved me more than $6k over a corporate rental. However the "own" part never entered into the equation. Rental furniture gets the job done but generally was not built to the same standards as what I would want to buy.

 

 

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Regular Contributor

Re: Why rent furniture?

I rented furniture when I moved to Orlando for a 5 month internship. Our whole house was furnished (living room, dining room, bedroom) for approx $100/month. I had no intention of staying after the internship so had no desire to purchase furniture and then have to deal with it when it was time to leave.

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New Visitor

Re: Why rent furniture?

I went through your post and I agree with you used furniture are more affordable than renting the furniture. My brother shifted near his office area and rented few furniture. Later, his friend told him that renting furniture is more costly than buying used or new furniture. He asked him to check used office furniture west palm beach which is an online furniture site which have used furniture. He ordered the furniture he required and he saved a lot because of it.

Super Contributor

Re: Why rent furniture?

Realistically it depends on many factors ... some of us that live in the "outback" don't always have all the open options. I worked as a trouble shooter for local governments and stayed 8 months to five years ... did not want the hassle of trying to move a household of goods. Instead I opted to rent furnished when possible so I could leave overnight if I had too. No regrets on not buying new or used because then I had to deal with disposing of the furniture or moving it. Did not cost me more either. It is all about circumstances "walking in the other person's shoes"!
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Established Contributor

Re: Why rent furniture?

I think when setting down roots it makes sense to purchase.  But for travelers it makes sense to rent places that are furnished.