RelayRides blogger Amanda L. Grossman answers your nagging questions so that you can finally take the plunge and start earning income off of your idle asset.
Remember when your mother taught you that it’s nice to share with others? Boy, if only she’d told you how lucrative it could be as well, you probably would have started sharing your toys a lot sooner.
We are in a different economy than one we’ve ever experienced before. It’s called the Sharing Economy, and it’s pretty exciting. Instead of each individual or couple shouldering the entire purchase price of all of the things deemed necessary and normal – such as a house and a car–costs and things are now being shared among communities.
You’ve likely got a money-producing asset sitting in your driveway that you haven’t tapped for earnings yet: your vehicle. The question is, why not? Let me assuage your fears and get you started earning cash from your idle asset.
Drivers are Pre-Screened Before They Request from You
There are two different screening processes that each potential renter of your vehicle goes through: RelayRides’ and your own. Before a renter is allowed to rent from anyone, they are put through a rigorous screening that includes a look into driving history as well as verifications. Then, once a renter gets into the system and chooses your vehicle, you have complete control over whether or not you approve or deny their request.
No questions asked!
Each Rental Comes with Its Own Insurance Policy
RelayRides offers a $1,000,000 liability insurance policy that is in effect during each rental period of your car. On top of this, you’re also protected against physical damage up to its actual cash value. All you have to do is print out the insurance ID card and keep it in your glove compartment box along with the car’s other information such as vehicle registration.
You Won’t Be Inconvenienced
Rental pick-ups and drop-offs are completely dictated by you. Do you prefer that renters come to your home? Specify this in the instructions. Would you rather keep your car parked at an accessible location with your key in a lockbox? This can be arranged by you as well.
Once your vehicle listing is set up, you simply need to approve/deny rental requests as they come in through a convenient mobile app.
Furthermore, if your car is sidelined during a rental for any reason, RelayRides has 24/7 Nationwide Roadside Assistance so that you are not the one who needs to pick the driver up.
Not Only Can You Earn Cash, But You Will Be Helping the Environment
Not only are you in the position to earn cash thanks to the sharing economy, but you enable positive environmental change as well. People who use car sharing typically also use public transportation and walk more. Thanks to people who rent their vehicles to their peers, there is a decrease in traffic. In fact, each shared car takes 15 others off of the road!
RelayRides offers a safe, effective, and lucrative way to put your idle assets to use. The only question remaining to ask yourself is: how will you use your extra money?