You’ve signed a lease on a new apartment, congratulations! Now, it’s time to furnish it. With rare exception, it’s a challenge for students to finance an entire household and adequately furnish an apartment with all of the necessities to make it feel like home.
Perhaps family members or friends have gifted you hand-me-down furniture or you’ve found great deals elsewhere. However, all too often, the cost and inconvenience of packing, moving, assembling and storing the big stuff (i.e. couches, beds, bookshelves, desks, dressers, dining room tables, etc.) can really add up!
Unless you have rented a furnished apartment, renting your furniture might be a good alternative for you. Like any option, furniture rental does have it’s share of “Pro’s and Cons”. To decide if renting furniture is a viable option for you, consider the following outlined in the article, Pros and Cons of Renting Furniture:
Pros of Renting Furniture
- Ideal when you want to use furniture for a short time without investing in the full purchase price.
- Rental centers often pick up the furniture when you’re ready to move, so you don’t have to. Often it’s less than hiring professional movers.
- You are paying less money upfront than you would be if you were buying the furniture outright.
- You will probably have nicer options for furniture (often referred to as “showroom quality”).
- It may be your only option if you’re having trouble finding cheap or free furniture.
You can be creative and enjoy these benefits without going the rental route, but you have to decide what’s best for your personal and financial circumstances.
Cons of Renting Furniture
- You may have to pay for it anyway the furniture gets stained or damaged (so check the fine print!).
- In addition to the monthly cost, you are subject to miscellaneous fees upfront like delivery/setup fee, along with a damage deposit or credit check fee, insurance, etc.
- Depending on your contract, interest rates, etc, you could be paying more in the long run than you would if you were to buy the furniture outright.
- You may not be allowed to terminate a contract early if you change your mind.
- Late payments can affect your credit history, which can impact future apartment rental applications and the amount you’ll pay to turn on utilities.
- While some furniture rental companies offer month-to-month rent, some will require you to sign a lease.
Here’s the takeaway. If you decide that the pros of renting furniture outweigh the cons, shop around and visit multiple rental companies and compare final costs. Some companies may offer lower monthly prices but higher upfront fees, while others may have higher monthly prices but no upfront fees. Before you sign a contract, make sure you read “the fine print” to avoid getting stuck with extra fees or an early termination clause.
To learn more about local furniture rental companies or your best options, give us a call during regular business hours (541.485.7776) or visit our office at 1301 Ferry Street, Eugene, OR 97401.
Sources
www.realtor.com
www.ohmyapt.apartmentratings.com