Peer to Peer Rental Marketplaces: How the Sharing Economy Is Growing and Growing Fast!
Have you ever loaned your sibling’s sweater without asking or accidentally swiped your dad’s tools for months after moving? Then chances are, you might have thought about sharing economies.
If you stayed in an Airbnb with your friends, you are one step further. Congrats, you’ve used a peer-to-peer rental marketplace!
This concept has been quickly growing in popularity across most markets and industries. What is it, and should you be a part of it? Read on to learn more.
What is ULend.Me’s peer to peer marketplace?
ULend.Me’s peer-to-peer marketplace is a platform where individuals trade goods with each other. It allows users to act as lenders, renters, or both.
Inventory-based business models dominated the rental market for a while, but P2P is a rapidly rising alternative with several advantages.
7 Benefits of peer-to-peer platforms like ULend.Me
- Save money
Renters no longer need to spend heaps of money on short-lived whims or needs. Why buy a large tent if you’re only going to use it for that music festival weekend?
P2P renting lets you access just about anything, and you only pay for the time you actually need the items. Try out new things you always wanted without making a big financial commitment.
The lack of inventory allows most p2ps to charge a lower fee on transactions than traditional rental houses. This further keeps the cost down and lets you use your money how you want it.
2. Experience flexibility and convenience
Well-designed peer-to-peer platforms like ULend.Me are extremely easy to use. They let you filter and compare options directly from the website before making decisions.
You can manage your messages and payment straight through the rental platform and let it take care of the heavy lifting for you.
3. Reduce waste
Circular economies are the way forward to reduce waste in our society. If you have a kayak that stands in the garage 340 days of the year, why not let someone else use it and make a little extra money while you’re at it?
Stop buying things you don’t need or plan to throw away. Profit yourself, others, and the environment in one move. It’s a win-win-win!
4. Trial runs
Try before you buy expensive items, you’re uncertain about. Borrowing a snowboard for your weekend getaway can help you decide whether it’s worth investing in!
Don’t waste your money on things you won’t like. Stop scraping Google for obscure reviews. Try the item for yourself with minimal risk.
5. Same end results
What are the benefits of purchasing outright? Not much really. As long as you have access to objects for the time you need them, your experience will be the same.
Peer-to-peer rentals get the job done in the same way but benefit your pockets and the environment.
6. Helping each other
This business structure allows for those rare, precious cases where everyone’s a winner. Lenders help renters save money and access items they want or need.
Renters provide the lenders with extra income, allowing them to get more value out of their initial purchase and make back some of their investment. It’s good karma!
7. Being part of a community
Several peer-to-peer marketplaces go beyond simple transactions. In niche markets like with tools or say, camera gear, lenders can provide way more than just a simple transaction.
They walk you through the equipment and give personal tips on your goals or projects. Users can make connections and meet like-minded individuals with the same interest.
Fostering the community benefits everyone. It allows members access to what they need and sharing knowledge, improving their skills.
How to join a peer-to-peer community
Joining a peer-to-peer community is easy as pie!
For lenders
If you have spare equipment that’s gathering dust, it’s time to put it to good use. All you have to do is:
- Set up an account,
- Take photos of your equipment,
- Create a listing or let us do it for you,
- Set your daily rate, and
- Wait for the profit!
For renters
If you’re planning a project and need extra equipment, you’ll also have an easy time.
- Set up an account,
- Search and compare local options,
- Request a rental,
- Get access to gear!
For more information check out www.ulend.me!