How to price your items

Rental rates

So you have found some items you’d like to rent out, but do not know where to start with pricing! A few ways you can determine how to price your items is to look at similar items within your community to determine a general price point. This will allow you to remain competitive within your community. For example, if you have a Kitchen Aid Mixer and there are a few others on the platform listed at $20 to $25 daily you wouldn’t want to price yourself at $60 daily as you've likely priced yourself outside of the market.

Another thing to keep in mind is the retail value of the item. Renters are often looking for a more cost-effective way to enjoy an activity or get a job done. So being conscious of the cost to buy brand new vs. renting is key. For example, if you have a cruiser bike posted for rent at $100 daily but the Renter can buy one brand new at $150 to $175, they are not likely to want to rent will end up just purchasing. Renting is meant as an alternative to purchasing, so when pricing items it is key to keep this in mind. You do not want to out-price your item that a Renter will just buy their own or not consider renting multiple times from you. 

We have created a great chart to give you a general idea of pricing for daily, weekly, and monthly rates. 

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