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FriendWithA is an online peer to peer rental marketplace. The platform enables people to loan out all sorts of gear and equipment ranging from outdoor backpacks and climbing equipment to cameras and lawn care tools. If you have any gear or equipment that you are not actively using, you can lend it out for short term rentals to poeple who need to borrow such gear to earn some passive side income.
- Outstanding 24/7 customer service – no matter what time of day it is, if you face any issues with your rental, there are staff ready to help.
- Get up to $10,000 damage protection insurance – you will also get up to $100,000 in personal liability insurance coverage provided by the company.
- Relatively low fees – the platform is free to join and to list items on. They only charge a 10% fee when you get a successful rental on your item.
- High earnings potential – you can earn up to $1000 per month in passive income depending on the type of gear that you have available to loan out.
- ID verification needed – if the value of the item that you are listing exceeds $1000, you will need to provide your ID for verification first.
- Income from rentals may not be consistent – if the demand for your type of gear in your area is low, you may only get 1 to 2 rentals per month.
Best Sites to Rent Stuff
Rent garage, driveway, parking lot, basement, bedroom, shed or carport
No listing fees + guaranteed payment monthly even if a renter doesn’t pay
Free coverage for everyone— $1,000,000 for host and $25,000 for renters
Earn money by renting out your gear with relatively low rental fees – 10%
Average monthly pay – $95 for bike, $145 for camera, $150 for guitar
Personal liability guarantee up to $100,000 and $125,000 property coverage
What is FriendWithA?
FriendWithA is a rental platform where you can list anything online. While there are lots of item categories, the site specializes in sporting equipment and technology.
This platform has only been operating since 2018, but it has already established a solid reputation.
There are lots of FriendWithA review comments praising the ease of use and the overall renting experience. So, while the company may not have a long track record, it is certainly a legit operation.
The purpose of the app is to allow you to rent out items that you are not currently using, but don’t want to sell. For example, if you have skis, but are not planning a skiing trip this year, why not rent them out and earn some cash? This is one of the best ways to make money online that you can easily fit your current schedule.
How Does FriendWithA Work?
FriendWithA aims to make renting out your infrequently used items as easy as possible. You can sign up for free and once you verify your account, you are ready to list your items.
To create a listing, you will need to fill out the item details, create a title, specify the condition and add a few photos. You can even schedule when the item is available. The FriendWithA team then promotes your listings to thousands of potential borrowers.
If someone does want to borrow your item, you can confirm the booking with just one click and then arrange a mutually convenient pick up location.
Are Your Items Safe?
Of course, if you are lending out your items to complete strangers, you need to feel confident that they are in good hands. FriendWithA appreciates this concern and offers an instant property coverage and liability guarantee. This offers:
- Up to $100,000 liability guarantee
- Up to $125,000 instant property coverage.
Additionally, FriendWithA verifies all platform users. All renters need to be vetted or provide a damage deposit. They also need to sign liability waivers when borrowing sports equipment or tools.
FriendWithA also offers 24/7 customer support. So, if you do have any queries or concerns, you can get answers almost instantly.
What Can You Rent Out?
There are numerous categories for items you can list on the FriendWithA platform. You can rent stuff including:
- Photography: Cameras and video equipment
- Sports: Snowboards & gear, rollerblades, bikes
- Water sports: Surfboards, kiteboards, kayaks
- Electric mobility: Scooters, Segways
- Transport: Cars, boats
- Equipment: Garden & lawn, general equipment
- Outdoors: Sleeping bags, camp chairs, backpacks, tents and other camping equipment
- Tools: Saws, ladders, power tools
- Electronics: Video games, computers, drones
- Musical instruments: Keyboards, guitars, amp instruments.
Some items are in higher demand, so are more likely to find a borrower. However, you can be creative and list practically anything in your home that someone may pay to use. If you have items that do not have a place on the FriendWithA marketplace, you can request a new category be added to the platform.
How to Get Started With FriendWithA?
FriendWithA is remarkably easy to use. To get started with FriendWithA you will need to create an account. You can do this with:
- A valid email address
- Google profile
- Facebook profile
You will also need to create a password.
If you’re planning on renting out items that are worth over $1,000, you will need to provide ID to lend your gear.
Once your account is active, you can create listings for any items you want to offer for rental. FriendWithA even has tools to help you to choose the best price for your items.
The platform is free to sign up and generally charges a 10% service fee per item. You can use the online free calculator to assess your potential earnings for each item. You can offer your items for one day to one month or more. Typically, renters enjoy better rates when borrowing for a longer period and this is reflected in the fees.
The FriendWithA Referral Program:
If you want to boost your FriendWithA earnings, you can refer family members and friends. You’ll earn a $20 referral fee after your referral makes a successful transaction, they will also receive $10.
You can invite friends with your unique link from the website referral page. The platform allows you to invite friends via email, but you can also post your link on your social media accounts. FriendWithA even has a template, where you can follow steps to create posts for your preferred social media networks.
How Do You Get Paid With FriendWithA?
After each rental is complete, FriendWithA will make the funds available for withdrawal. The minimum withdrawal limit is just $5 and you can specify a bank account to receive a direct transfer. You can expect your funds into your account within a few days of making a payment request.
FriendWithA Pros and Cons
- Easy to use: Friendwitha aims to make it simple to join the platform and list your items.
- Insurance protection: Of course, you need to be sure that your items are in good hands. This platform provides insurance protection should your item be lost, stolen or damaged during a rental.
- Solid ratings: There are numerous platforms highlighting positive Friendwitha review comments. This includes Trustpilot, BBB and the Google Play Store.
- Liability protection: All renters sign a liability waiver when they borrow items. So, if someone falls and breaks their leg using your skis, you won’t have to worry about being liable.
- Commission per rental: Every item you rent will attract a commission fee. This is typically less than 10%, but it can vary.
- No guarantees: While you can list practically any item, there are no guarantees that Friendwitha will find you a borrower.
- Bank transfer only: The company only offers one payment method; direct transfer. So, if you prefer to deal with PayPal or other payment methods, you may find this frustrating.
- Verification required: If you want to create an account and start listing your items, you may be subject to an ID verification request. This will delay your account activation.
- Location dependent: Unless you are in a big city, you may find there are few borrowers in your area who want your items.
While it is innovative, there are some sites like FriendWithA that may offer a better solution for you.
FriendWithA vs Fat Llama:
Fat Llama is a rental platform that began in London, but has expanded to the New York area. The fees are typically higher than Friendwitha, with both the lender and renter paying a 15% fee.
Like FriendWithA, you can list practically anything on Fat Llama. However, there are penalties if you agree to a rental and then cancel.
FriendWithA vs Loanables:
Loanables has similar commission rates to FriendWithA, but as the lender you are responsible for collecting the money and arranging the pick up. You will also need to be responsible for asking for a deposit.
Additionally, there is no liability protection. So, if someone hurts themselves using your power tools or sports equipment, you could find yourself with a hefty bill or law suit.
FriendWithA vs RentNotBuy:
RentNotBuy is a community forum that doesn’t charge any fees to the renter or lender. However, this does lead to a mass of listings that may leave your items lost in the crowd. Unlike FriendWithA, you will need to handle the payment and item security alone.
So, while you may save money on fees, there is less protection for handing your items over to a stranger.
Tips for Successfully Renting Out Your Things
Since there are no guarantees with FriendWithA, it is important to try your best to get your items rented. Fortunately, there are some tips to help you.
Set the Best Price:
You can choose your own rental price, but if you set your price too high, you are unlikely to get any borrowers. FriendWithA does offer a price calculator, but a good guideline is to consider:
- The item price
- Its condition
- The item age
No one is likely to want to pay over the odds for an old item or pay a rental fee that is only slightly less than buying it for themselves. Remember that you can rent out your item multiple times, so err on the side of caution.
Take Good Photos:
Good images can increase your chances securing a borrower by as much as 40%. Many borrowers will browse solely by the images, so it is important to make a great first impression.
Clean and test your items before you take your pictures and try to use natural light. Ideally, you should have a clear, uncluttered background, but at the very least take pictures from multiple angles.
Don’t Forget the Insurance:
While it may be tempting to try to cut down on your FriendWithA commissions, don’t overlook the benefits of paying for the platform insurance. The Lender Damage Guarantee is not a compulsory purchase, but it is the best way to protect against any unforeseen risks.
Is Friendwitha Worth It?
Friendwitha is a legit platform that makes it easy to list your items for rent. While there are no guarantees, if you have a high demand for your stuff in your local area, you could enjoy a decent return.
This is a great opportunity if you have lots of sports equipment and other popular items that you don’t often use. If your items are in good condition, you can create a side hustle. Friendwitha fees are typically 10%, so you could end up with a decent amount of money with the minimum of inconvenience.
What Things Can You Rent Out?
You can rent out practically anything on Friendwitha. If you don’t find an appropriate category, you can request that the support team add a new one.