Ideas

Heck yea. You could do it for big things that not many people actually own. Things from a carpet cleaner for a few bucks a day to a large back hoe for digging a new swimming pool or something! Any rental pacae can be under-cut by the average consumer who only lends their things out leisurely. The website could have legal printout templates that the users can print and have their rentees sign them saying that it will be returned in the same condition, etc.

I like this idea a lot.

Question: How do renters insure their loaned-out items? Some loaned goods (riding lawn-mower, for instance) could be returned in a dubious state.

TomW> How do renters insure their loaned-out items? Some loaned goods (riding lawn-mower, for instance) could be returned in a dubious state.

That's an interesting one. House insurance covers a lot of things, even when they are off your property (e.g. I know my camcorder is covered even when I'm on vacation).

It may be possible to negotiate something with an insurance company, much like the car rental companies have, which says something like "consumer electronics insure for $x per day per $100 value, household goods insure for $y per day per $100 value" etc.

I would guess that the best way would be for the renter to assume responsibility for all damage done, and that if they didn't purchase insurance, then they'd be responsible for paying for the repair. Just like when you rent a car.

Here's a random thought, Aidan: Perhaps that is one of the revenue models for this website. Get it backed by a host of various insurance companies, and have an optional "Insure It!" choice when renting out your stuff -- insurance companies could BID to insure you. Your website would get a commission for any insurance sales made.

+1 to the idea of multiple insurers bidding, Tom :-)

Sounds like a pretty neat idea to me.

What if the person doesn't return the item at all? I think that this is a pretty large risk for people to take for a small amount of money.

I am dubious regarding the risks, but wioth adequate insurance etc I'm sure that could be overcome. All in all i like the idea.

has been done

www.erento.com

Rasalnur: that site is for Germans only. How about one for the rest of the world, and for people who speak English (the English translation is only partial).

techguy: For a start, the borrower will have provided their name and address, phone number and credit card information. If they don't leave something back they should be easily trackable. Secondly, if people are insured as TomW suggests, then a claim on the insurance replaces their loaned item with a shiny new one.

Can I borrow your girlfriend?

visit http://www.dummyborrowers.com and enjoy borrowing, lending, selling and buying.