In the days of streaming, ride sharing and subscription services galore, there's no denying the fact that "owning" has become a lot less vital — even when it comes to furniture. For many millennials living in a world of looming student loan debt and moving from one lease to the next, the hard truth is: buying furniture just isn't practical.
Surprisingly, according to the , millennials are the largest group of home buyers — though their spending habits are a lot different from those of yesteryear. Data from shows that millennials spend a lot more of their income on tech, clothing and eating out compared to older generations, while just 4.5 percent goes toward furniture and building materials.
Enter a new crop of home decor-based rental services, who have picked up on the renting trend. From furniture to artwork, there are an array of commitment-free ways to decorate your space while staying on-trend and within budget. Take a closer look at three companies revolutionizing subscription-style decor.
"It's no longer about owning a dream house, accumulating cars, and the 'white picket fence,'" says Jay Reno, founder and CEO of trendy furniture rental service , currently operating in San Francisco, New York and parts of New Jersey. "Today, people aspire to have freedom and flexibility."
Considering how much of a pain moving can be, especially for city-dwellers, renting furniture seems like a no-brainer compared to schlepping all of your belongings every time you start a new lease. Not to mention Feather's furniture offerings, selected with millennials in mind, don't sacrifice style, skewing mid-century modern with picks like a to a .
How it works: On their site, you can select exactly what furniture you want, as well as the length of your rental term (which can be anywhere from three months to 12 months). Categories like Standard, Hip and Premium give you an idea of the quality and price of each item. Regardless of which you choose, the goal is to make renting way cheaper than buying. Bonus: Feather will deliver and assemble the items for you, which will make moving even less of a hassle.
For most, the art world seems like it's exclusively for serious collectors and is beyond intimidating to newcomers. But online marketplace , based in London, is looking to change that mindset with its art rental option. The company basically gives you the chance to test out a piece before you buy it. Think of it as a trial subscription for contemporary paintings, sculptures, and more.
"Art can be daunting, and its extremely subjective," says Scott Phillips, co-founder and CEO of Rise Art. "By allowing people the rental option, we make it easy for this new wave of collectors to try out art, live with it and decide if they really want to keep it before they commit to buying."
And they make the process pretty fun too. They give you a personality quiz to help determine your unique taste, with picks suggested by the company's expert art curators. While you'll definitely see pricier pieces on the site, Rise Art is also big on representing emerging artists for affordable prices, so there's a little something for everyone. You can even rent the art for as long as you like, until you decide to keep it or move on to your next test-run.
pictured is "Strawberry Fields" by Stella Kapezanou.
is basically the "Rent the Runway" of table settings. With six different gorgeous tablescapes to choose from for your next soiree, there's truly a style for everyone. From the always-chic black-and-white striped "The Parker" (which also has the most glam rose gold details) to "The Hadley" which boasts a trendy banana leaf print and Caribbean vibe.
With an on-demand food industry that gives you everything except the decor to serve it on, Table + Teaspoon is appealing to a younger generation that wants to entertain, without having to shill out for a fancy tabletop.
"Seventy percent of our clientele are millennials, and roughly eighty percent of this demographic find Table + Teaspoon via social media channels," says founder Liz Curtis.
All you have to do is go to the site, choose your favorite design and number of party guests (in sets of fours), and your lovely setting will be shipped right to your door with step-by-step instructions. You don't even need to wash anything before you send it back. Just pack up and send out within two days of your event. Easiest party planning ever.