Not utilizing your car? Right here's how one can become profitable from it – Moneyweb

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Money-strapped automotive house owners can now lease out their non-public automobiles by way of the RentMyRide platform, very similar to householders use Airbnb to lease out rooms or their houses for added revenue.
The nationwide peer-to-peer automotive rental market, which was offline attributable to Covid lockdowns, relaunched final yr and has already seen a marked uptake from automotive house owners and people trying to lease automobiles affordably. Much like the Airbnb mannequin, customers determine the speed at which the automotive shall be rented out, and must add pictures of the car when itemizing on RentMyRide. The automotive rental mannequin has already confirmed profitable for companies in different elements of the world together with Turo in the USA and Snappcar within the Netherlands.
In an setting the place working from dwelling has grow to be extra frequent, the chance to show one’s automotive into a further revenue supply might be profitable.
Linda Trim, director at Big Leap, certainly one of South Africa’s largest office design consultancies, says that by June 2021, an estimated 50% of the South African workforce was working from dwelling on a full-time foundation. Because the pandemic continued bigger corporations have grow to be extra versatile, both permitting staff to earn a living from home or implementing a hybrid mannequin requiring two to a few days within the workplace relatively than the earlier five-day-per-week working mannequin.
Cape City-based Linda Molepo began utilizing RentMyRide in 2016, renting out a Toyota Avanza. Since then, her facet hustle has expanded considerably. She now has 4 autos registered with RentMyRide – two Mercedes Viano buses, a Mercedes Benz C180 and a Toyota Etios.
“I used to be in search of a facet hustle or a small enterprise I may run on the facet. I may contemplate myself fortunate as a result of my autos are often rented out. The final two years have been actually tough financially and though I may by no means have foreseen that we might have a pandemic or lockdowns, I’m so glad I began utilizing RentMyRide. The extra revenue actually helped me financially survive the final two years,” she says.
Molepo says she has already referred 4 of her associates to the platform and they’re additionally efficiently incomes a second revenue by way of RentMyRide. To listing a automotive on RentMyRide, your automotive should be licensed and have lower than 200 000km mileage.
“When you’ve got a monitoring machine in your automotive, that’s nice. Should you don’t, we will prepare a reduced fitment with Tracker, which is certainly one of our companions. We additionally take out our personal insurance coverage on the autos and our verification of renters is vigorous,” says Sebastian Brokmann, chief government of RentMyRide. Eligibility necessities for renters embody a legitimate driver’s licence, a cell phone of their identify, a verified identification doc and a fraud and credit score screening.
The minimal rental interval is 2 days. Brokmann says the service is usually utilized by people who find themselves on enterprise journeys or just need the comfort of a automotive for the weekend or just a few days. On the positioning, you merely select your location and the time interval you wish to lease the automotive for. A customer to Cape City wanting a automotive from January 27 to February 1 may lease a Suzuki Swift, for instance, for R1 700 or R340 per day.
A fast search on the Avis web site reveals that the RentMyRide charges are aggressive. The leases for a similar interval by way of Avis for a small automotive vary from R2 065 for a Renault Kwid to R3 429 for a Volkswagen Polo.
“Our platform is a win-win for each the renters and people desirous to monetise a depreciating asset sitting of their storage,” Brokmann says.
Dropped at you by RentMyRide.
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In the meantime, ANC chairperson and mining minister Gwede Mantashe informed CityPress that ‘numerous forces’ had been attempting to drive a wedge between him and Ramaphosa.

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