How Much Does Renting Furniture Cost?
Renting furniture is ideal for those that cannot afford the large payments or who are going to be in a location for a limited amount of time. Furniture that can be rented includes televisions, couches, end tables and more. The cost of renting furniture is going to greatly depend on the store, the type of furniture needed, geographical location, as well as other factors.
How much is it?
- On average, renting furniture can cost anywhere from $20 to $95 per week. Many companies today are going to be on a rent to own basis. Once a certain number of payments are made, the furniture will be yours.
- A TV can cost anywhere from $15 to $45 per week depending on the size and brand. Add-ons such as TV stands and surround sound can add an additional $5 to $15 per month.
- Sofas, loveseats and kitchen tables can cost anywhere from $20 to $150 per month. Complete living room or bedroom sets can cost between $190 and $400 per month.
- Beds, nightstands and dressers will fall in the price range of $10 to $110 per month, each.
- Appliances such as a washer and dryer can cost $150 to $325 per month.
- For example, a popular furniture rental store Rent-A-Center can rent out sofa and loveseats for $26.99 per week. A homeowner in Tampa Bay, Florida paid $199 a month for a complete bedroom set at a local rental store.
What are the extra costs?
- Interest rates may be charged in addition to the monthly fee. Each company is going to be different. Applicants with poor credit may have to pay more compared to those with good credit.
- If the furniture is kept over the time needed, additional fees can apply. Some furniture shops can make you sign contracts. If you don’t return the furniture within this time frame, penalties can apply. Be sure to reference your contract before signing it to know what penalties are going to apply.
What is going to be included?
- Rent to own stores are similar to a furniture store. Working with a salesman, you will be able to browse the items in the store. Once you pick out items that you would like to rent, and an order will be written up. After this, the transaction is complete and a delivery date will be set. When the furniture is no longer needed anymore, a quick call can have the furniture taken away.
- After making payments on your rented furniture for a certain amount of time, the furniture will be yours to keep. This will depend on the policy of the store.
How can I save money?
- Renting furniture generally does not make financial sense. If living in your home for an extended period of time, it may be ideal to find used furniture on Craigslist. It is not uncommon to see interest rates as high at 30% or more for insurance on this furniture.
- Those with good credit may want to consider applying for a loan at a local furniture store. These payments can be just as cheap per month as renting furniture, if not cheaper.