Pune is growing with an influx of migrating urban professionals. Magarpatta, Kharadi, and Baner are city hotspots, with average rents up 10% to 15%. Young IT engineers and corporate professionals are choosing an alternative way to bypass the upfront cost of homeownership. As a result, furniture subscriptions are on the rise. Demand also stems from the risk of resale depreciation. Most of them remain in a probationary period after moving to a new city; they are less likely to spend over a lakh to furnish a place. Rental platforms like Rentomojo understand that short stays are becoming more common in an uncertain job market. Millennials and Gen Z professionals also choose to stay light, and flexible rental plans of 3, 6, 11, or 12 months are another reason for the paradigm shift.
High Rental Demands in the IT Corridors
Demand for furniture rental is not uniform across Pune. The growth is more concentrated in major IT corridors. Hinjewadi and Wakad have emerged as the epicentre of tech in the city. The density of shared accommodations and bachelor apartments indicates a preference for low-cost bundles featuring essential furniture pieces – beds, wardrobes, study desks.
Baner and Balewadi are premium counterparts, where mostly senior tech leads and mid-management executives reside. The choice shifts from basic 1BHK furniture packages to full-home packages, including L-shaped sofas, solid-wood dining sets, smart TVs, and ACs.
“Nowadays, we have plenty of options to rent houses at the click of a button but none for renting furniture. Buying furniture requires unjustified spending, and it comes with the extra baggage of ‘what to do’ with the furniture when you relocate. As a result, we either end up living below par lifestyles in under-furnished houses or spend way beyond what is necessary,” says Geetansh Bamania, the CEO of Rentomojo.
Another trend is growing steadily: young professionals moving to Pune from Delhi NCR, Karnataka, Telangana, and Maharashtra. Their career trajectory is hyper-mobile, and the furniture rental market suits their frequent relocation needs. Most of them live in 2BHKs or 3BHKs in groups; if one flatmate leaves, they find another flatmate on Facebook ‘Flats and Flatmate’ groups or at the workplace.
Renting furniture lets young professionals keep things light with an early exit and subscription transfer. Rentomojo allows closing the furniture subscription before the chosen tenure by paying a pre-closure fee of one month’s rent. The rental platform also allows the subscriber to transfer the subscription of a bed or mattress on rent to another flatmate.
What Setting Up a Home Costs in Pune
The cost of furnishing a home in Pune depends on whether one chooses to make an upfront investment in furniture. Some choose the second-hand furniture market; however, it comes with risks. For example, a second-hand sofa may not show signs of hairline fractures or hidden splits in the photos. Also, the online listing doesn’t reveal anything about odour or dust mites.
The same goes for a second-hand mattress. Once a buyer brings a used mattress found at a slashed price, germs, pests, and broken springs lead to sleepless nights. Marketplace photos don’t show whether the mattress has black spots or is older than five years.
Renting a sofa or mattress from service providers means multiple points of inspection. For instance, Rentomojo runs a 25-step quality check to ensure the product is in excellent condition. The platform also offers the option to rent brand-new products.
Apart from used furniture, buying new has its drawbacks. Once the warranty ends, the repairs fall on the owner. Not only repairs, but relocation also adds transportation costs.
| Option | Upfront | Monthly | Cost over a 12-month stay |
| Rent RentoMojo 1 BHK Value (12-month plan) | ₹3,553 refundable deposit | ₹3,553 | ₹42,636 |
| Buy the same items new (bed, fridge, mattress, wardrobe, washing machine, etc.) | ₹75,494+ | ₹0 | ₹75,494+ |
Note: Prices are indicative. Live pricing for 3, 6, 11, 12, 24, and 36 months is available on the Rentomojo app and website.
Rentomojo adds a security deposit of one month’s rent, which is refundable within 7-10 working days. The security deposit appears at checkout.
Why Young Professionals Choose Renting Furniture
Renting from platforms like Rentomojo covers relocation charges, which is another reason to choose a furniture subscription. Furlenco and Cityfurnish also operate in this category in Pune.
The rental platforms handle delivery and installation. If you live alone in a new city, bringing a used sofa or mattress is difficult because most resale furniture shops don’t provide delivery or installation. Retail shops for new furniture differ, but the upfront cost can be a challenge for a young professional on probation.
Renting furniture creates the opportunity to swap products after a specific period of time. With new apartments, millennials and Gen Z feel the need to change the room aesthetics. From the Pinterest Boards to making the space look Insta-worthy, the ability to swap furniture is convenient with renting. Buying locks users into the physical asset until resale, at a depreciated value.
The Future of Furniture Rental Market in Pune
India’s home furniture and appliance market is expected to reach about ₹60.3 billion by 2030. The rental furniture market has been gradually replacing the need for purchases unless someone has a permanent address. Rentomojo’s tenure ranges from 3 to 36 months, catering to long-term and short-term users. While 80% of India’s homes are unfurnished or semi-furnished, the platform creates opportunities for short and long stays through relocation and upgrade products. With the growing rental housing market, the rental economy is linked to changing lifestyles in the upcoming years. Rentomojo, founded in 2014, has been operating in Pune since 2015 and is now listed on the NSE and BSE.
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