Amanda L. Grossman shares how walking to work and having an idle car in the garage nets RelayRides member Kirsty Traill hundreds of dollars each month.
Oh, the difference three months can make.
Just ask Kirsty Traill, who decided to join RelayRides in January of this year. In just a few short months, she’s managed to establish a new revenue stream by renting out a vehicle that was mainly sitting idle in her garage. Not bad for optimizing something she already owned!
I had the chance to interview Kirsty, and wanted to share with you why she loves the sharing economy, how much her side revenue stream is worth, and some of her tips to help you set up or enhance your current RelayRides side gig.
Making the Decision to Rent with RelayRides
Kirsty is one of those people who can walk to work. Because she’s in this fortunate position, her car sits idle in her garage for days at a time. She was excited about the concept of the sharing economy, and so it made perfect sense for her to hop onboard and make some extra cash. Kirsty explains, “in general we are such a consumption driven society, I like the idea of using or renting something that is not being utilized by its owner. Be it cars (RelayRides), rooms (Airbnb), or spare time (TaskRabbit), these platforms/marketplaces offer the owner of the services the ability to earn money on an underutilized asset, whilst providing very good value to the renter/user.”
Since making the leap, Kirsty’s admiration for RelayRides has grown. She explains, “There are a large number of renters, and I like the fact RelayRides takes care of all the insurance, checking the renters, providing the toolkit etc. I think it’s an amazing service.”
Funneling her Extra Income
Kirsty has consistently made around $300/month since joining RelayRides. She has used the money to fund her “online shopping habit, and to pay insurance, maintenance, etc. for my car,” and is quick to add that her online shopping habit has been funded “in a self-sustaining way”.
Now that she knows she can make consistent extra income with RelayRides, she’s going to put some of her earnings throughout this year towards several overseas trips.
Tips for How to Add Your Own Steady Revenue Stream
Looking to start up or enhance your own side revenue stream on RelayRides? Kirsty shares some great tips on how to increase your earnings, most of which revolves around you being a good business person that others will want to rent from.
To begin with, Kirsty says that you should, “Benchmark your rental price to ensure that you are competitive.” By remaining competitive with your prices, you have a better chance of being selected by potential renters. Kirsty also says you should “approve as many requests as possible/practicable and as quickly as possible, ensure your calendar is up to date, and block dates your car is not available so that you don’t waste people’s time.” Kirsty personally loves the convenience of the RelayRides App, and uses it to approve/deny 90% of all rental requests.
If you are a renter with good business etiquette, then it won’t be hard to do the next tip on Kirsty’s list, which is to reach out and ask renters to write reviews for you. This has helped Kirsty rack up eight great reviews in just three months.
Are you in the San Francisco area? Be sure to check out Kirsty’s Jeep Compass 2007, which you can rent for $38/day.