Looking for ways to make some extra cash? It’s as easy as renting out your car.

With the tight economic climate currently in South Africa, everyone is looking for ways to make extra money. Have you ever considered renting out your car when you’re not using it?

By renting out your vehicle, you have a chance to get the maximum out of your car value. Peter Puren, the founder of RentMyRide, says that this initiative grew out of the current economic climate: the high cost of car rental prices and the difficulty for the public to afford them. Renters can save nearly 40% compared to standard car rental agencies because they don’t have any running costs, and they offer the broader variety of choice.

Unlike other car rental companies, RentMyRide doesn’t own any of the motor vehicles nor maintains them. It is a system for car owners and renters to connect, bringing about reduced rental charges as opposed to conventional car hire companies.

All renter applications are created directly on the www.rentmyride.co.za web page platform to the owners. Owners can decide what individuals rent their cars and can agree to or turn down an inquiry. Owners can also filter out their car should they wish to use it themselves. Car owners perform inspections with the renters initially and also the end of the rental.

The earning potential for car owners is extremely high as you could earn anything from R2500 to R11 000 per month, from just one vehicle.

You, the owner, have a choice in who you lease to and can accept or deny a booking. Renters are accountable for purchasing the petrol that they used on their trip. Determine the mileage and fuel level before releasing the vehicle. RentMyRide does not require one to have a private insurance plan to be permitted membership. In case you have insurance, RentMyRide’s liability insurance will supplement your overall protection.

If a renter wants to prolong their rental period, they will need to submit a new booking request and you will have the option to approve or deny their request. Only the named operator on the trip has the right to drive the vehicle. Any additional drivers must be authorized by RentMyRide and issued consent by you, the owner.

Leasing your private vehicle is often a complicated concept to wrap your mind around, but RentMyRide claims it’s safe and secure with R10-million insurance protection underwritten by Renasa Insurance that features 24/7 roadside services. Vehicle owners create their free account & decide the availability and daily rental of their car and get notified of all new booking requests.

Renters can also create an account at www.rentmyride.co.za after which their details are verified before they can rent a car.

RentMyRide is currently available in Cape Town, Gauteng, Bloemfontein, Port Elizabeth, East London as well as Durban.

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