Setting up a whole new household can be a rather costly adventure. Even in Orlando where some of the expenses are lower than in other parts of the country, this prospect can be financially daunting. To cut costs, many people consider renting furniture and appliances to get them past the initial hump. This proposition has its ups and downs, however, and should be contemplated closely.
Furniture Rental Companies
Furniture rental companies are out to make money. They do this by charging monthly fees and interest on the items people bring into their homes. Those who rent furniture or consider rent to own appliances will find in many cases that even the best deals come with extra fees involved.
While there are some instances where rent to own furniture makes sense for those living in Orlando apartments, they are often few and far between. A short-term lease and short-term move, for example, might necessitate this as an actual cost-savings measure. Also, it’s possible that rent to own furniture options would make sense if a quick payoff were planned.
In many cases, people will find when they rent or even rent to own, the potential pitfalls are many. They can include:
High overall payout – When the overall, bottom line payout is considered, most people will find it is much cheaper to buy furniture and appliances than to rent them. Once interest charges are added in, cash purchases will always stack up as the better way to go. Renting furniture over the course of several years can cost a great deal more than buying it new.
Repossession fears – Paying out $200 a month for household furniture and appliances might not seem like a big deal at the time the agreement is signed, but bad things can happen to finances. When a rental agreement is in place and financial difficulties arise, people who rent can lose their possessions rather quickly. If the decision is made to buy – new or used – repossession of bedding, couches and other items in a home should not be an issue.
Shoddy merchandise – In some cases, rental furniture and appliances are not the highest quality. The fact is purchasing these items is an investment in living. Even if some items in an apartment home have to be purchased used, owning outright is often the smarter choice.
Rent to own appliances and rent to own furniture can fill needs on a temporary basis, but this route is generally not the best to take in the long haul. When saving money in truly desired, buying makes more sense.
If you do decide to rent your furniture, here are some tips…
- Set a budget before shopping and make a list of the furniture you need for each room in priority order.
- Get a detailed quote with all fees, terms and conditions in writing.
- In addition to price, consider minimum terms of rental and costs to extend rental period.
- Does the company have a contracted mover or are you responsible for hiring and paying for the fees to deliver your furniture to your apartment?
- Bring a tape measure to ensure that all pieces fit through doorways and hallways and in the designated room.
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