Like Turo’s peer-to-peer vehicle sharing system, RentMyRide has launched this concept in South Africa where you can make extra money renting out your car.
According to Peter Puren, CEO of RentMyRide, the sharing financial climate is a motion launched not only due to necessity however plain old-fashioned sound judgment. It’s an opportunity to start applying your vehicle to its maximum use.
Unlike conventional car rental companies, RentMyRide doesn’t own the vehicles neither maintains them. Instead, they offer a system for vehicle owners and renters to connect, which results in lowered rental rates in comparison to conventional car hire services.
Renters can save around 40% compared to regular car rental agencies, and they have a broader variety of choice. It is cheaper than recognized car rental providers because they don’t have the expenses. This makes it a very attractive option for renters and you, the car owner, is sure to make some extra cash.
All rental applications are created directly on the www.rentmyride.co.za website platform. Owners can choose what individuals rent their vehicles and may consent to or refuse an inquiry. Owners may also block out their car should they require to use it themselves. Vehicle owners could make anything from R2500 to R11 000 per month from just one car.
Owners regulate what individuals they rent to and may approve or reject a booking inquiry. As soon as a rental is complete, owners and renters can assess their experience for future user’s gain. Renters are accountable for purchasing the fuel that they used on their holiday. Before the renter’s trip, you should confirm the petrol level, just as you do with the mileage. RentMyRide does not require one to have private insurance to be allowed membership. Should you have insurance, RentMyRide’s liability insurance will supplement your overall cover.
Only the specified user has the right to drive an owner’s vehicle. Any prospective supplementary drivers must be authorized by RentMyRide and given authorization by the owner.
Renting out your vehicle in Cape Town might be a daunting thought on the outset, but RentMyRide claims it’s straightforward and secure with a 10 million-rand insurance policy underwritten by Renasa Insurance that features 24/7 roadside services. Renters set up an account on RentMyRide.co.za and then their information is analyzed. Car owners create the availability and price of their vehicle. They then get informed when a renter requests a booking.
RentMyRide is being introduced in all major cities and from there will spread to form a nationwide system of car owners and renters.