Is Renting Furniture The Model For Tomorrow Instead of Buying?

In a world where people rent places to live, tools, and vehicles, furniture rentals in Toronto services have also made their niche. It’s all about the growth of the sharing economy and how the demand for rental furniture has grown with it. The trend is driven mostly by younger individuals, namely Millennials, who are reluctant to stay in the same location but refuse to sacrifice their interior living space style. So is furniture rental the model for the future instead of buying?

The “Sharing” Economy

Minimalists are constantly striving to own less. As a result, rental furniture has become the logical solution for this philosophy. Purchasing furniture is not only expensive, it ties buyers down. Furthermore, you never know what will be trending in the future or where your life will be headed. Consequently, with the convenience provided by online furniture rentals services in Toronto, this is perfect for millennials and minimalists. They don’t want to cart around expensive furniture but like to relocate with minimum things.

Most rental furniture services operate in similar fashion. You rent the items you need or want for as long as you need or want. At the end of the rental period, you can decide whether you want to keep the items and extend your contract or subscription, return the items, or purchase everything. One of the primary advantages of renting furniture is that you’re in control. You don’t have to lug it around whenever you move or pay exorbitant prices to pack and move each piece. It is much more affordable to rent new furniture.

Millennials prefer Renting rather than Purchasing

Today’s furniture rentals services in Toronto target the generation born between the early 1980’s and the mid-1990’s or in other words Millennials. How and where they live and work is considerably more flexible than prior generations. If a better offer presents itself, they’ll be packing their bags and hitting the road in no time. Add to this the ever-increasing numbers of fixed-term contractual employment positions and short-term rental leases and furnishing a home for the long term makes no sense.

Living space shortages in major urban areas is also fueling the fire. Millennials rarely purchase furniture anymore because they just don’t have enough room for it. Based on a recent US study, they would much rather spend their money on clothing, dining out, and technology than the purchase of home furnishings. Barely 4.5% of this group will invest in furniture. There are only 3 things that matter to this demographic – flexibility, keeping pace with current trends, and sustainability.

For the best choices in furniture rentals services in Toronto, call Elite Furniture Rental today at (855) 477-9767.