Frequently asked questions
Welcome to ENKY, a furniture company engaged in the preservation of our planet. 🌳
We're crafting flexible solutions - rental, circular purchase - for all kinds of moods. Whether you're at home or at work, we'll always ensure that you are comfortably furnished. All the pieces listed are produced in Europe, and were chosen for their high-quality and timeless design.
To qualify as an investor at Enky, you must have a company number registered in one of the following countries: Belgium, France, Luxembourg, Switzerland, Holland, Germany.
At ENKY, we facilitate access to quality furniture through flexible rental!
How does it work?
Renters - mostly companies,
choose the furniture they'd like to rent, from 6 to 84 months.
Once their subscription ends, renters have several choices:
- keep the furniture by renting it again
- keep the furniture by buying it, at a pre-determined price
- return the furniture to ENKY and terminate the rental contract.
Each time a new product is rented, we put it up for sale for investors. You can browse the products available for purchase on our Marketplace.
When buying furniture on ENKY, investors get access to monthly revenues generated from the rental contracts.
You can sell Items from your portfolio at their current value to other investors, after 12 months.
Therefore, it gives you the opportunity to recuperate your investment early if needed.
Depending on the rental duration chosen by our users, a monthly rent is calculated. The rent includes depreciation of the product, the cost of our services (logistics, etc..), and the interests. Interest rate are calculated depending on the duration of the contract (from 6% to 12%). When the rental period is short, the interest rate increases.
As investor, you get monthly revenues that include capital repayment (depreciation) and the interests on the contracts concluded with our users.
Investing on Enky,s furniture means:
- Attractive returns, from 5-6% on average
- Low risks, tangible assets
- Contributing to a radical change in the furniture industry
When buying products on ENKY, you're helping us fight against fast furniture. Each year in Europe, this industry generates more than 10M tons of waste...
The products offered by ENKY meet our 5 selection criteria:
- Quality: the good must be qualitative in order to be rented for several years
- Provenance: the good must be produced in Europe, the continent of the most beautiful forests
- Manufacturing process: the products must be crafted with responsible processes
- Design: the good must have a timeless design in order to be rented several times
When a good is fully depreciated, it can no longer be rented. Usually, the last renter decides to own the good, without spending more money.
Otherwise, we can recycle the good to give it a second life!
We do everything to ensure that your goods are constantly rented and do not get stored in a warehouse.
However, it's possible that your goods will not be rented during 100% of their lifetime. That's why the interest rate is higher for short rental contracts. Renters usually choose to keep their goods by either buying them or renting them again. So this could happen in very limited cases.
Is so, we'll refurbish the items and find a new renter.
If the item is not rented for more than 6 months, we put it up for sale through our network of second hands partners at a discount of about 30% of the current value.
The loss is therefore limited.
No. There is no entrance fee to invest in furniture.
We do not require a minimum amount to invest on ENKY.
However, we advise you to buy at least €10,000 of furniture in order to diversify your portfolio and reduce the risk.
For the moment, we accept payments using bank transfer, or SEPA direct debit.
Your rental income should be considered as revenue for your company and will be taxed like any other sort of revenue.
When buying furniture on the platform, we apply a self-billing process. With this process, you authorize ENKY to issue a monthly invoice on behalf. This invoice includes the details of the income generated from renting your goods.
We will provide your accountant with all the necessary documents.
We ensure that your personal information remains confidential and will be only used within a legal framework.
As an investor, you only benefit from monthly revenues when your furniture are rented. The principal risk is to have some items that are not rented for certain period of time.
Therefore, we cannot guarantee that you'll enjoy constant return during the entire lifetime of your products.
However, all the items that are available to buy on the platform are already rented for a certain period of time, and most renters choose to extend their contract or buy the furniture.
So with a good spread among different renters/type of product we can ensure a good portfolio effects which ensures a positive return on your investement.
If a renter has damaged your good, ENKY will repair or replace it ASAP.
We take care of all costs related to the repair or replacement of the furniture. As an investor, this does not affect your rental income.
If your goods disappears, it cannot be rented in the future. This is a loss for the investor.
However, such cases are very rare. This risk is reduced if you have a diversified portfolio.
In this case, we'll charge the customer a compensation for premature departure.
As investors, this has no impact on your rental income.
We ensure a good follow up of payement with our users. If user are not paying for more than 3 months , we'll take legal action and recuperate the furniture in order to rent it to other renters or sell it in the second market.
The money collected is paid to the investor.