Introducing PayPal Rental With Rentalic

Really interested in this concept: Rentalic lets you rent out the things you have around you aren’t using, and employs PayPal’s payments system to take deposits and more.

Unlike eBay where you sell your kit, Rentalic lets you rent things out, or hire them in – unused skis, carpet cleaners, second car – whatever you may have around, whatever you might need.

Listing items and setting rental fees is really easy, but the interesting (if slightly complex) twist is in how it securely enables you to find and trust other parties.

Once an item is listed someone may turn up who wants to rent it.

PayPal handles this side of things, vetting the potential renter to ensure they have the cash in their account to pay whatever deposit you chose to request.

When that’s verified, the person renting the item gets a secret code. Only after meeting up in person and verifying that the item is what they want and is as described do they hand that code over to the renter. That’s when the renter gets the deposit.

After the rental period and the return of the goods, the deposit is passed back (minus fees). Hurrah! You got money, and smiles all round, hopefully.

Rentalic took first prize in PayPal’s recent Dev Challenge.

Via: Rentalic