Zilok - Peer 2 Peer Rental
I recently stumbled across a rental site called Zilok, which effectively works as a peer to peer rental portal, where you and I can rent items to others in our local area. The concept works by allowing users to upload items to a specific category for a small fee, then displays these items to people in the area. Users will then pay the lender, depending on the price they set for their item, and return the item once they are done.
This is a great site to use during the economic downturn as it means you can rent out some of the things you no longer use to earn a little extra money per month. I recommend taking a look at the site and familiarising yourself with how it works.
Also do a couple of test searches, Nintendo Wii in London for example yields two results, with one available for £8 a day and one for £20 a day. This shows that a little shopping around can get you some great deals.
Lenders can also request a deposit for their items, so if you plan to rent something of value, ensure your piece of mind by attaching a refundable deposit to the listing. The transactions are secured by a legal agreement provided by Zilok, but you never can tell with some people.
In regards to cost, the listing fees for products is currently set at 10 pence per month, per item. See below for final transction fees:
| Transaction Total Amount (GBP) | Commission (before tax) |
|---|---|
| 0 to £10 | £1 |
| £10 to £50 | 9% + £0.10 |
| £50 to £100 | 8% + £0.60 |
| £100 to £500 | 7% + £1.6 |
| £500 to £2000 | 6% + £6.6 |
| More than £2000 | 5% + £26.6 |
So going by this, it seems for smaller hires you get a decent deal. I’m going to give it a try with some smaller items to see how i get on. It seems this could be a good idea for helping get out of debt, or even just for a little pocket money.
