Ron Lanzo, AFR FurnitureTo those of you who’ve followed my columns here in the New York Real Estate Journal, you know I’m always looking for new ideas and trends within the rental industry. After all, we are primarily a company whose entire business model is based upon renting instead of purchasing. A few years ago I covered Rent the Runway, a company that offered high-end or designer couture gowns fit for the red carpet and the prom circuit. After a successful equity partner investment, they continue to grow offering an ever expanding line of dresses, hand bags and accessories. It was indeed a very specific and successful niche that they carved out. And since that time we find a number of new rental companies that can offer the career women a business wardrobe complete with a Gucci purse and other matching or complimentary accessories. These fashion rental services allow you to reinvigorate your wardrobe on a monthly basis. For as little as $59, Le Tote offers sizes 0 – 14 in dresses. The client fills out a questionnaire and creates a virtual wish list, dubbed “My Closet.” A stylist chooses three clothing items and two accessories for every tote. So, for $59 per month for an unlimited monthly subscription, a $5/monthly insurance fee and free shipping, a women can rent it, wear it and flip it instead of investing in a trendy wardrobe that’s likely to go out of style!
At Rent The Runway, now a 7 year old service, not to be outdone, has begun to offer it’s comparable service with sizes from 0 – 22 for $139 per month they’ll include three items and free shipping. Their strong suit is right-on-trend jackets, skirts and tops, but the selection of pants is somewhat limited.
If you live in one of the smaller Manhattan or Brooklyn studio apartments you already know closet space is very limited, so renting an ever changing wardrobe means you free up the rack for the next month’s new look without making an investment in clothes that either you tire of wearing or that goes out of style! In a recent article by Logan Whiteside from a column entitled Millennials & Their Money, Whiteside says, “Why I rent everything: From clothes to jewelry.” She goes on to say, “I get my music from Spotify, my entertainment from Netflix and transportation through Uber and my wardrobe from Le Tote.” And she confirms that her tiny New York City apartment is too small to store a large wardrobe and of course it too, is rented.
And if you’re an outdoors type and also live in a small place, you are in luck because now you can rent a kayak, a tent and other items you need for a weekend camping trip! One local company is now offering a complete selection of outdoor products. Brooklyn based “GEAR TO GO Outfitters,” www.geartogooutfitters.com has packages that include a tent, three sleeping bags and three air mattresses for $160, for three days. They have flexible terms and their minimum rental term is three days. And they advertise that you can “try before you buy,” so renting becomes a way you decide if you want to own, but as most of their customer have limited space, they continue to rent only as needed. What an idea!! Should you decide to buy, they’ll apply up to 50% of the rental for up to 30 days from the rental date!
So get out and rent something, and remember if you need home furnishings, event furnishings or commercial office furniture, keep AFR Furniture & Event Furnishings in mind! The possibilities are endless and the results impressive.
Ron Lanzo is the commercial account executive for AFR Furniture Rental, Inc., New York, N.Y.
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