What are Rent To Own Furniture Contracts? Why is it So Great?

Home Furniture Rental

For individuals and families who are just starting out and have less furnished homes or less cash on hand to work with, it is possible to get your apartment fully furnished in just a few hours without burning a hole through your pocket.

How? Through Singapore’s home furniture rental.

Depending on how much you pay every month and for how long, you could have your entire living room or even your entire apartment furnished! That’s not all, with a rent to own contract, you can have your whole apartment furnished on a monthly payment plan and get to keep all of the furniture once the contract ends. Rent to own contracts are usually longer than 12 months.

Rent to Own Furniture  – Why They Are So Popular

There are plenty of upsides to renting out furniture, especially on rent to own contracts.

First of all, you get to have brand-name furniture in your home, and even electronics, without having to go through tedious credit checks or by putting out big payments upfront. The total balance is split into relatively low weekly or monthly payments.

That’s not all. To encourage customers to patronise of their services, most rent-to-own companies offer free delivery, setup and servicing in case their furniture items need repairs. That last part is important because they can be more than a one-off expense; maintenance and repairs can form the bulk of the cost of keeping furniture looking new.

Lastly, if the customer can’t or doesn’t want to continue making the payments, they can simply return the items without it affecting their credit. It is that simple.

Because the contract is structured to be extremely flexible at any time, rent to own payment schemes has become extremely popular with families and individuals who are just starting out, as well as expats who have yet to fully settle down in a place.

Renting Furniture  – A Middle Ground

The thing with rent to own furniture schemes is that you have to pay a premium because you are essentially the owner of the furniture already. You have to finish paying for it first before you can take full ownership.

Home furniture rental in Singapore can offer a more cost-effective alternative.

If you factor in the costs of deposit and insurance, as well as the upfront costs of renting furniture, it may be cheaper to rent instead of renting to own.

This way, you still have the option of returning the furniture anytime you want, and you don’t have to pay upfront for it. You can still furnish an entire apartment for the fraction of the cost of buying every furniture piece yourself. Repairs and maintenance costs will still be catered for by the furniture rental company, which can lead to additional savings.

As you’re not paying as much, you can afford to save up slowly and buy nice furniture pieces as you can afford them.

Of course, the choice is completely up to you. If you like the specific piece and don’t mind paying a premium to eventually own it, then a rent-to-own payment scheme is not as bad as most make it sound like.