The Appeal of Furniture Hire

I was recently reading an article in Wired Magazine about how ideas of ownership are changing.

The article Is This the End of Ownership? discussed how we are seeing a shift from owning a product to a "Subscription Economy." Thanks to Spotify my music library has more than doubled. And remember actual libraries? The bricks and mortar place with actual books? Well they've had this whole lending over ownership thing down pat for years- they're even moving into the 21st Century by lending ebooks.

"The way in which we buy and consume products is rapidly changing. The world we once knew -- where we owned physical products...is rapidly coming to a close."

Ok so the article was discussing the leasing of cds, dvds and computer software but the same logic can be applied to furniture hire.

There is a definite appeal to leasing, renting, pay-as-you-go and subscriptions. As someone who is quiet transient (like most people living in London), moving from property to property, city to city, country to country, I try to keep my ownership and accumulation of things to a minimum. Not only does it make it easier for me to pick up and go, it means that I can experience the best of everything without having to work out if I'll be able to cart it to my next destination or what the resale value of the product is (not very high in today's mass market).

For renters there are not many options when looking at buying furniture. Do I buy flat packed furniture that I know will probably break in the next 6 months or do I run the risk of buying nice furniture that I may not be able to take with me to the next property? Or even if you do purchase nice furniture then there's the hassle of hiring a van and moving your furniture and what if it doesn't fit in your next property? All these questions are enough to give a renter a hernia.

For a first time renter looking to fully kit out their property they can look at spending well over £1000. A quick online shop at Ikea tells me that even their low cost, low budget furniture range would set me back £700 and that's without many essentials including a dining table, TV, lamps, curtains or any kind of personality. Furniture hire on the other hand gives renters access to high quality furnishings with the freedom to choose whether they want short term or long term furniture hire, a bespoke package or a few select items.

For landlords too, furniture pack rental can be appealing. Leasing a property that has high quality furnishings will help you attract the best possible rent for your property.  And as an added bonus furniture hire is a business tax deductible for landlords.

The next time you think about buying something, look at the rental alternative.

Who Is Generation Rent And Why Are They The Ideal Tenant?

As a landlord, following property related news and blogs you’ll probably have heard of the term ‘generation rent’ but who does it refer to? Generation rent refers to anyone who, due to large deposits and high interest mortgages, is looking to rent for life. Although it most typically refers to young professionals, who are on a decent salary but cannot afford to buy a home.

In London, where 40% of the nation’s graduates flock to, there is higher spending on food, shopping and rent.  In an article that appeared a recent issue of the Stylist, writer Amy Grier likened this phenomenon to Peter Pan where ‘the capital’s mature adolescent shuns the major markers of responsible adulthood – most notably in spending habits.” According to Ricky Burdett, professor of urban studies at LSE, the majority of Londoners are aged 25-45.

A recent study found that renters spend 71% of their pay after tax goes towards paying the rent. Whilst this generation may be willing to sacrifice a large part of their rent for a property in a good location, they also expect more bang for their buck.

Without a mortgage or big debts to pay off these renters have a more disposable income and as such live with higher expectations of the property they rent. They buy iPads, 3D TVs and go on luxury holidays abroad. They like to live in nice areas but don’t want the burden of a home owner and all that in entails, including furniture.

By offering a fully furnished rental property that meets the needs of the ideal renter you can not only achieve the best market price but hopefully also get good tenants that will treat your property with respect and plan to stay in their property for a few years to come.

Whether you are furnishing the whole property, including an entertainment unit and kitchen supplies, or offering just essential items of furniture, furniture hire providers can help to create a stylish property to rent. Most landlordfurniture hire providers offer to help find the right furniture hire package to suit your property with the help of an in-house interior design team.

A stylish property that is furnished is appealing to the generation of renters in London who are willing to pay for a decent property in a good location.