Rentomojo is an online rental solution company rent furniture and home appliances for your home and even bikes within a very reasonable cost. Founded in 2014 by IIT graduates, they aim to create a low cost and hassle free alternative to buying furniture.
India is no newcomer to renting but this has ideally been accepted only in real estate sector but not when it comes to day-to-day and household items. That said, India is an emerging market and the opportunities are limitless so when there is a way for one to benefit and live worry free with the option of renting basic items such as furniture why would there be any hesitation. Bangalore, the city of opportunities where every youngster walks in with dreams of climbing the corporate ladder or just settling in comfortably for the future. While the city may be all that it is known for, for these young professionals setting up and maintaining a home may not be a priority but definitely a necessity.
A common scenario in cities like Bangalore – You have just moved into a new job probably your first one and the savings are almost minimal. Now the next worry after finding a job and a place to stay is to make it livable. The last thing you want or need is to shell out loads of cash ( or credit card!) on furnishings or worse, sleep on a mattress on the floor in the hope of saving money. Rentomojo aims to make your life hassle free where you can live comfortably without too much of a hole in your pocket. This way you do not have to worry about buying furniture or settling for second-hand furniture!
Almost every newly married couple has the initial worries of funding a new home with affordable furniture and accessories with their main worry – would it be worth buying it especially if they have to move to another city. Once again, renting furniture makes a lot of sense and that is where Rentomojo has some great packages to relieve some of their burden (or most of it!).
I recently had the opportunity to meet and interact with Mr.Geetansh Bamania, CEO and founder of RentoMojo who is quite the entrepreneur with a focus. Though I did have my doubts on the benefits of buying versus renting, some of the points he put across made a lot of sense especially for the younger generation. Though they have now also come up with the option of “Rent To Own” where the customer rents the furniture/appliance for a set time period before actually purchasing it.
His mantra is simple – it doesn’t make sense for most people to buy furniture and appliances especially on EMI’s where there are so many hidden costs and more obviously high interest rates, which is a burden for a long period. Rentomojo offers RMI’s (rental monthly installment) which hopes to help you live your life without the worry of loans, EMI’s and cost of ownership by providing them day-to-day products via rent.
So while the above has you convinced about renting and not buying, the next thought which is likely to enter your mind is how much time and effort is this going to take. Would it just be easier to go buy? The team at Rentomojo have got you covered, well almost everything that came to my mind at least!
To begin with, you have to submit identification and address proof with a minimum rental period of 3 months. They do take a refundable security deposit, but once your stop using their services, you get all the deposit back. Coming to payments, their subscriptions allow you the convenience of making the payment after using their products.
The next worry is if you are getting a used product or a new one – there is a possibility it may not be brand new but definitely refurbished and as good as new to the point you would not know the difference and that is what matters in the long run.
For those who are unsure about what they need or bored of the same look, they have the option of swapping but you have to be on their 18 month subscription plan. Not to worry, all their plans are flexible and you can extend or opt out anytime or even better transfer it to another person.
The go getters in the corporate world probably would not want to stick to one city and look for opportunities have less to worry about as relocation hassles are taken care of too as they have services in 8 major cities across India.
One of my biggest concerns has always been the AMC or annual maintenance charges when buying a product. They too cover this with annual cleaning and free maintenance services for their products. Damages do come at a small price but for simple issues such as tears, scratches they would cover it free of cost within Rs.1000.
In Bangalore they service all areas of the city including Koramangala, Indira Nagar, Marathahalli, Whitefield, Electronic City, HSR Layout, BTM Layout, Jayanagar, Yeshwantpur and Yelahanka.
Rentomojo provides services in Bangalore, Chennai, Mumbai, Pune, Noida, Gurgaon, Delhi and Hyderabad.
Pic courtesy : Rentomojo, RJ Heart & Soul.