How to earn money lending your belongings
Rentoodle team, updated 5 minute read
A practical guide to lending on Rentoodle: what rents well, photographs that get bookings, pricing per day, minimum hire periods and a handover checklist.
What actually rents well
The best things to lend are expensive to buy, occasional to use and awkward to store. That is exactly the profile of the item somebody else does not want to buy either, which is why they are looking for it.
If you are wondering what in your house qualifies, look for these patterns:
- Tools for one off jobs: sanders, tile cutters, wallpaper steamers, scaffold towers, cement mixers.
- Garden machines used a few weekends a year: pressure washers, hedge trimmers, aerators, scarifiers.
- Camera bodies, lenses and lighting that sit between projects.
- Occasionwear: designer dresses, suits, coats and the accessories that go with them.
- Baby equipment your own children have outgrown: travel cots, high chairs, stair gates, carriers.
- Party, camping and sports kit that comes out seasonally: gazebos, tents, roof boxes, projectors.
Photographs that get bookings
Photographs decide whether anyone reads your description. You do not need a camera, but you do need daylight and a tidy background. Shoot near a window on an overcast day, turn the room lights off so the colours are consistent, and put the item against a plain wall or a clean floor rather than the contents of the garage.
Take six honest pictures rather than one flattering one. A full view of the whole item, a close up of the brand and model plate, a shot of everything that is included laid out together, a picture of it set up or in use, and a clear photograph of any wear or damage. Showing the scuff costs you nothing and prevents an argument later, because the hirer knew about it before they booked.
Then write a description that answers the questions you would ask. Make, model, size or capacity, what is and is not included, what it is good at and what it is not, and anything the hirer needs to supply themselves such as consumables or a hose.
Pricing per day
Prices on Rentoodle are set per day by you. The sensible starting point is to search the site for the same item, or the nearest equivalent, and look at what is already listed near you, then position yourself against it honestly. A newer machine in better condition with everything included can sit above the middle. An older one missing an accessory should not.
Think about what the item earns rather than what it cost. Something that sits unused all year is not paying for itself at any price, and the difference between a daily rate that books and one that does not is usually smaller than people assume. Remember that lenders keep 75% of the rental price and Rentoodle keeps 25%, so set the price on the listing at what you want the hire to be worth, not at your take home figure.
If you offer tracked delivery, set the postage cost to reflect what it genuinely costs to send an item that size and weight, including packaging. Undercharging postage on a heavy item is the quickest way to make lending feel unrewarding.
Minimum hire periods and availability
The default minimum hire is two days, which works for most items. Set a longer minimum where the effort of each booking is high: anything heavy to pack, anything that needs demonstrating at handover, or anything you have to post both ways.
Keep your availability honest. If the gazebo is in use for a family party, block the dates rather than hoping nobody asks, because a cancellation costs you far more goodwill than a quiet week does. Reply quickly to messages: the lender who answers a question the same day is usually the one who gets the booking.
The handover checklist
Every hirer on Rentoodle is identity verified, and payment is captured after that verification, so the person collecting is a known, paying hirer. A tidy handover still protects you both.
- Photograph the item and its accessories just before it goes out, with the condition clearly visible.
- Lay out every accessory and count it aloud with the hirer, or list it in the parcel.
- Show the controls and anything that catches people out, and say what the item must not be used for.
- Include the manual, or send a link to it in a message.
- Agree the return time and place in messages, so you both have the same record.
- For a delivery hire, pack properly, send it by tracked delivery to arrive on the start date, and keep the tracking number.
- Check the item over on its return, straight away, while the hirer is still there or the same day it arrives.
Getting paid, and being covered
Lenders are paid after the rental. Set up your payout details before your first booking rather than after it, and note that you will be asked for identity information before payment can be made, in line with UK Know Your Customer rules for banking.
Every booking is covered by the Lender Guarantee up to £30,000, subject to its terms. The guarantee rewards lenders who keep records, so the photographs you take before each hire are not paperwork for its own sake. Read the full terms on the Lender Guarantee page before you list anything valuable, and note in particular that you must report any incident you may need to claim for within 24 hours of the end date of the rental.
Frequently asked questions
How much of the rental price do I keep?
Lenders keep 75% of the rental price and Rentoodle keeps 25%. Set your daily price on the listing at what the hire is worth, rather than at the figure you want to receive.
When do I get paid?
Lenders are paid after the rental. Set your payout details up in advance, and expect to provide identity information before payment can be made, in line with UK Know Your Customer rules.
What if a hirer damages or does not return my item?
Every booking is covered by the Lender Guarantee up to £30,000, subject to its terms. Report any incident within 24 hours of the end date of the rental, and read the full terms on the Lender Guarantee page.