5 ms·
The leased life - Why own anything?
Interesting article about Rentalic.com (and other similar services) which makes it easier to lend and borrow common, but infrequently used.
Like so many other websites, it connects mutual beneficiaries - in this case, people who own things they don’t use much with people who want to use things without owning them. Members can post either belongings they have to offer or goods they are hoping to find. Items recently listed include a body fat scale ($5 a week), a bread maker ($1.75 a day), and a cupcake transporter ($3 a week). The site was launched last October with limited membership, and opened to the public earlier this month.
There have been many times where I've wanted to borrow/rent a high performance DSLR camera (for sporting events, special outings, etc.) but wouldn't feel right just bugging my friend for theirs. I can't afford the $1000+ price tag either, so that's not an option. I can understand that the DSLR example may not be the best example, because it's very expensive and fragile, but there are many other items available on their site which make perfect sense to borrow/rent for a fee (bikes, golf clubs, wheelbarrows, etc.)
- bgraves 17y agoInteresting article about Rentalic.com (and other similar services) which makes it easier to lend and borrow common, but infrequently used. Like so many other websites, it connects mutual beneficiaries - in this case, people who own things they don’t use much with people who want to use things without owning them. Members can post either belongings they have to offer or goods they are hoping to find. Items recently listed include a body fat scale ($5 a week), a bread maker ($1.75 a day), and a cupcake transporter ($3 a week). The site was launched last October with limited membership, and opened to the public earlier this month. There have been many times where I've wanted to borrow/rent a high performance DSLR camera (for sporting events, special outings, etc.) but wouldn't feel right just bugging my friend for theirs. I can't afford the $1000+ price tag either, so that's not an option. I can understand that the DSLR example may not be the best example, because it's very expensive and fragile, but there are many other items available on their site which make perfect sense to borrow/rent for a fee (bikes, golf clubs, wheelbarrows, etc.)
- raffi 17y agoFolks should read predictably irrational. Market norms bring out different attributes in people than social norms. I'd much rather borrow something from my neighbor (and return the favor) over trying to extract every dime I can from them (or vice versa).
- bgraves 17y agoI agree with you about common items like a cup of sugar or a couple of eggs while making a dessert, but how about more expensive items like a lawn mower, snow blower, power washer that you will probably use a few times during the year but not enough to justify purchasing it outright (in your mind at least). Then you have the whole eco-friendly nature of this idea -- it makes sense for many people to share these durable goods. This site makes it easier for a neighborhood to 'share' in the repair costs, upkeep, storage, etc. without actually having to pay condo association fees. I would gladly spend an extra $200 for a better, longer lasting lawn mower if I knew it was going to be used more frequently by my neighbors, and they were going to reimburse me for the upkeep and storage costs.
- nradov 17y agoHow do they resolve the liability issue? Someone who hurts himself with your lawnmower might try to sue you. Your homeowner's / renter's insurance policy will probably not cover what amounts to running a business out of your home.
- bgraves 17y agoI'm not a lawyer, but I disagree with both of your points. This isn't a business (you won't be collecting taxes, for instance) and I don't think you'd be responsible for someone getting hurt. Also, power tools and other dangerous equipment is only category here. Baby/toddler equipment, camping gear, sporting goods, etc. are all too expensive if you just need to borrow something for a day or a week.
- nradov 17y ago
- HeyLaughingBoy 17y agoThis idea works well when the product is infrequently used and you can predict the need. If you can't predict that need then it's generally more convenient to purchase. And that's the key term: convenience. People don't willingly inconvenience themselves without good reason. Alternately, leasing works when the item you're leasing would cost too much to purchase outright. But that's not the case with the consumer items they're talking about here. Businesses will often lean towards leasing instead of purchasing because one is normally paid from the Operations budget and the other from the Capital budget. For individual consumers who don't look at finance that way, leasing is about convenience and affordability. .