Whether you’re setting up a new workspace from scratch or replacing furniture that’s past its prime, you’re probably wondering what the most cost-efficient way to furnish your office is. Should you save more money up front by renting or invest in office furniture that will last your business for years?
To help you reach a decision, we’ve created a guide to help you determine the benefits and drawbacks of renting vs. buying furniture. Read on to gain a better understanding of which action will be best for your enterprise.
Pros of Renting Business Furniture
Is leasing furniture ever a good idea? In a few select cases, the answer is yes. For starters, renting furniture is initially more affordable than purchasing furniture upfront—you might be able to rent business furniture for about one to two years before you’d spend what you would on buying the same items. If you’re working with limited funds while you’re trying to get your company off the ground, renting may be right for you in the beginning.
Renting may also be a good option if you’re on a short-term lease for your office space. Moving an office’s worth of furniture across a city is a hassle, so renting for a few months before returning the pieces may be more convenient than shelling out for quality furniture and professional movers.
Cons of Renting Business Furniture
Now for the disadvantages of renting furniture. First of all, you may not have as many options to choose from when you’re renting instead of buying. There are tens of thousands of furniture retailers in the U.S. and only a few hundred furniture rental businesses, so your rental choices could be limited.
Next, although renting furniture is less expensive at first, the costs can really add up over time. If you choose to rent for a couple years or longer, you will likely end up spending more money than you would have if you’d bought the furniture outright. If you know you’ll need certain pieces of business furniture to last a long time, it makes a lot more sense to purchase it than rent it.
Lastly, there may be hidden costs associated with renting furniture that you haven’t considered. For instance, you’ll have to pay for delivery and removal, and depending on the terms of the contract, you might also have to pay for renters’ insurance. You also may incur fees if the furniture has excessive damage or wear and tear after your office uses it (speaking of which, there’s a good chance you’ll have worn and damaged rental furniture in your workspace if the previous renters weren’t careful).
When and Where to Buy Office Furniture
Even though there are some situations where renting furniture has its merits, buying is clearly preferable to renting overall. If your current budget allows for it, we highly recommend purchasing new office furniture.
Buying office furniture for your business means you’ll have more options to choose from and less to worry about (there won’t be a contract with hidden terms or costs to sign off on). Besides that, the furniture won’t have had a previous owner, which means it will arrive in pristine condition. If you’re wondering where to buy office furniture, wonder no more: Modern Office has everything from chairs, workstations, and cubicles to conference tables, computer carts, and so much more. Want to design your own office furniture? We have hundreds of customization options for you to choose from so you can start designing your dream office one piece of furniture at a time. Start browsing through our online selection and you’ll quickly see that our furniture is better than any rental item.