We’ve just changed the rentoid payment system which will improve the site dramatically for everyone.
How it was
The new system reduces barriers for people who want to rent your items. Previously we took a 5% service fee on all rentals. Which was cumbersome, and required potential renters of your items to pay a fee up front, before they could even talk to you about renting it. It was a big ask and many of your potential rentoid customers just clicked away…. although we had our ‘rentoid guarantee’ it was just all too hard.
What we’ve done
People can now rent your item with one click. Once they are logged in as members, all they need to do to rent your item is click this button below. And you contact details will be given on the screen, with more detailed information emailed to them. Then you can both get renting straight away.
We are no longer taking a 5% commision on rentals. Our research shows that this will make people more than 10 times more likely to rent your item. So if you have’nt had a great deal of rentals via rentoid yet, then get ready for things to improve.
What this means
It is no longer free to list your items for rent. We now require a one time payment of $4.00 to list an item. It’s lose change… the price of a latte, and we think it’s pretty fair.
If you intend to list lots of items we’d recommend you join for 1 year at the price of $30 - this gives you as unlimited listings as a fully paid ‘rentreprenuer’.
It does mean you need to pay up front for listings, but it is simpler for people wanting to rent your stuff and help you make money, and ultimately cheaper than paying a 5% commission which can is mostly more than the $4 listing fee, and was payable for every rental previously.
We think it’s much better for everyone involved… what do you think?