How to set your rental prices

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We’ve had a lot of members talking about prices on rentoid. Questions included, and our answers are beside them:

Why are some people putting up prices which seem a bit greedy?- We’re not sure

What is a fair price for my rental items? See below.

Can you delete items that are too expensive? No we can’t.

Can you control the pricing on rentoid? No we can’t.

Everything on rentoid and put up for rent is decided by the rentoid memebrs not us – That’s simply cause it’s your stuff, your site and so you decide. Fair enough we reckon. Anyway, if something is priced too high, it wont rent out, and you don’t have to rent it. We reckon over time people work out what’s fair and there will be anough of every itme for people to compare prices.

What to price things at?

Well it depends on a few things;

  • How often you use it… Some money is better than none on something you’re not using
  • How long the item lasts – For example gaming consoles get outdated very quickly, so a lower price makes sense given it won’t be worth much, if anything in a couple of years.

But my humble recommendation for pricing is 10% of it’s value for a week. So like $40-50 for a Nintendo Wii would be an example as they cost about $400 to buy. Also some common sesne ideas like making it cheaper for longer rental periods.

But, it’s your decision!

Steve from rentoid.

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