As South Africa’s economy isn’t exactly buoyant right now, people will increasingly be looking for ways to earn extra money.
What better way than to share your car and rent it out while you’re away or when you don’t need it – and importantly when the vehicle is sitting idle but busily depreciating.
Recently launched car hire business, RentMyRide is the latest trend to contribute to a shared and boosted economy.
It connects car renters with people who want to earn additional income by renting out their privately owned vehicle. When traditional car hire farms are likely to have limited supply in December and January, RentMyRide is offering South Africans the chance to earn some money this festive season if they’re not using their car.
Riding on the crest of other popular car hire companies, RentMyRide offers a return on an otherwise deteriorating commodity – their motor vehicle. The high cost of running a car makes RentMyRide a viable proposition for consumers and offers a business opportunity for entrepreneurs to scale up to a fleet of cars for hire.
For the car renter, RentMyRide promises to reduce the enormous amount of paperwork and upselling that traditional car hire companies impose on their customers.
“Our processes are much smarter and faster,” said Sebastian Brokmann, Director of RentMyRide.
“Although we have strict renter screening in place,” he continued, “the entire renting process can be done online very efficiently.” The car collection point and time can also be negotiated between the renter and owner, which reduces queueing at car hire agencies and depots.
For the car owner, the opportunity to turn their car into an investment is an exciting prospect of up to R 40 000 turnover per month by having a little car rental business.
The company holds a R10-million liability insurance policy for its car owners, who can also rely upon 24/7 roadside assistance and support, Thousands of people are listing their cars or are interested in renting a car via RentMyRide.
“We have considered and analysed the car owners’ concerns very thoroughly and carefully because this is critical to the success of the business,” adds Sebastian. “Our insurance policy has been underwritten by Johannesburg-based Renasa, and a detailed explanation of the policy and a step-by-step checklist of procedures to follow is fully covered on our website.”
The website is easy to navigate, information-rich and comprehensive. It also includes many helpful FAQs, such as ‘what to do with traffic violations’ and ‘clutch policy’.
RentMyRide is the first peer to peer car-sharing platform in Africa and one that aims to bring people together as well as stimulate entrepreneurship in the region.
The company has ambitious plans as Sebastian says: “Our goal for 2018 is to show thousands of South Africans how to make money by renting out their car.”
Brought to you by RentMyRide