Instead of filling their apartment with cheap furniture that feels disposable, a growing number of people are simply renting posh couches and throw cushions by the roomful.
The latest addition to the so-called sharing economy of subscription services, such as Rent the Runway for high-end clothing and Hourcar for vehicles, are furniture and home goods subscription services like Feather, Fernish and Inhabitr. They target millennials and Gen Zers who value mobility, flexibility and sustainability over owning things.
"Whenever I moved, it was always like, 'Why are we buying furniture, and moving costs even more than the furniture, but we end up giving it away or even throwing it in the alley?' " said Inhabitr founder Ankur Agrawal.
Agrawal plans to expand his Chicago-based startup, which is already available in eight other cities, including Milwaukee and Madison, Wis., into the Twin Cities this year. Feather and Fernish are available in a few West Coast and East Coast cities so far.
The concept is growing — and established companies are also getting involved.
Furniture giant Ikea is testing leasing programs in Europe, with plans to expand into the U.S.
And through a partnership with West Elm, Rent the Runway subscribers across the country can now also rent living room or bedding "bundles" — which include options like several accent pillows and a matching throw blanket, or a quilted coverlet and coordinating shams. Subscribers who pay the $159 a month "unlimited" rate can rent the bundles as one of four selections they can check out at a time.
"It's an exciting time. People have started to buy furniture online. Millennials are moving a lot, they're moving three to five times before they decide where they're going to live," Agrawal said. "And there's a lot of industries like Airbnb, co-working, where there's a lot of need for flexibility and renewal. And, honestly, we get bored looking at the same furniture. It's like fashion."