Leasing vs. Renting
In regards to furniture Leasing/Rental plans, the essential difference between Leasing and Renting is: if you plan on returning the furniture at the end of the specified period you are Renting; if you want the option to purchase the furniture at the end of the specified period then you want to Lease. The terms are interchangeable as far as we are concerned but it may have an impact on your accounting. For details on your specific situation please consult your Accountant.
Consider renting furniture if any of the following issues are true:
- Rental furniture is needed for three months or longer
- Furniture is likely to be needed for two years or less
- Location where the furniture is to be used over the next two years is uncertain
- Location might change, move, or upgrade and need new furnishings
- Want to avoid the initial expense of furniture purchase
- Need to preserve capital by avoiding the total cost of furniture purchase
- Furniture rental expenditure is a business expense or funded moving expense
- Permanent furniture is delayed due to shipping, transportation, or manufacturing issues
There are other reasons to rent furniture that relate more to your personal desires:
- Furniture renting makes it easy to express your personal style
- Rental furniture maintains your lifestyle through life’s transitions
- Renting furniture helps avoid having to “Settle” on what furniture you use.
- Furniture rental facilitates style changes and seasonal adjustments
Whether your need is for temporary furniture, seasonal or event furniture for commercial office, there are some universal issues you need to consider.
Renting Furniture allows you to choose any available space, in exactly the location you need. Initial cash outlay and overall cost are minimized. You get professional help in selecting the exact furniture style that best suits your use and personality, and you can tailor the furniture you choose to your needs. And, furniture rental easily accommodates change. Changing individual pieces, overall style, or even your location, can be done with ease.
Purchasing Furniture is expensive. An initial cash outlay is required and you pay the total value of the furniture even if your need is temporary. In order to change color or style, you are forced to buy new furniture pieces. When you move, transportation costs apply. Furniture resale value is quite low, and disposal costs for used items may apply. Buying furniture inhibits change and eliminates flexibility while exacting the full cost for all your furniture needs.