Rental Furniture – The Latest Trend In Millennial Home Design

In this era of ride sharing, streaming, and subscription services, it isn’t surprising that renting is often preferred over buying, especially where rent furniture services in Toronto and millennials are concerned. For many of these individuals who are strapped with excessive student loan debt and are constantly relocating from one lease property to another, the reality is that purchasing furniture is no longer practical.

Yet surprisingly, millennials are currently the largest home buying demographic group according to a recent National Association of Realtors publication. Additional data from Bank of America / Merrill Lynch suggests that their spending habits are considerably different from that of past generations. They are spending more on clothing, eating out, and technology and only about 5% on items such as building materials and furniture.

One of the reasons is the frequent job changes, moving and relocation which turns out to be expensive if you move all the furniture with you. This is apart from the cost of investing in buying furniture pieces.

Enter the Rental Furniture and Interior Decorating Industries

From artwork to furniture, there are numerous ways to decorate and furnish your interior space commitment-free while keeping pace with current trends and staying within one’s budget. According to the Pew Research Center data that was published in the October 1st issue of Hunker.com, the average millennial is carrying roughly $36,000 in debt. So, once they’ve covered their basic necessities, it doesn’t leave them a lot of spending room for furniture. Enter rent furniture providers in Toronto.

When you consider how challenging relocating can be for younger, independent people living in big cities, renting your furniture makes more sense than taking all those bulky, heavy items with you. As a result, we’re seeing furniture rental companies who market exclusively to the millennial age group or are targeting them more in their advertising campaigns.

The Revitalization of the Rental Furniture Model

There are new rent furniture businesses in Toronto popping up on the landscape while the older ones are devoting a portion of their operation to the millennial customer. They are not just promoting affordability and comfort. They emphasize environmental impact and trendier designs as well. So, the primary focus of these companies is now millennials with transitory lifestyles and some disposable income.

This all makes sense when you consider how millennials are opposed to permanence and high investment objects. Nor should it come as a surprise to anyone given the volatile nature of the economy at the time they were growing into adulthood. We are now seeing rent furniture companies in Toronto today that are starting to focus more on creating a customized furniture rental experience for these younger adults.