The new way of making money for poor students.

So what if you are shopping, whether it is online or offline, and you see all these products you want to buy. Because you have had some influences from good reviews on the products or many friends have recommended it to you. Then you decide to buy it and check the price. Unfortunately a problem is arising. You are out of your money or you do not have enough money to buy the product. So what can you still do to satisfy your needs and possess the product that you want? An option would be to borrow money, this is feasible, however you do not always want to pay back the money. How about earning some money by doing a certain activity?

The solution is Rentsy, an online platform where you can rent or lease a product for a day or over a longer period. It is now available to rent or lease an expensive product for a low price just for a day. The products offered have a wide variety, such as, go pro camera, drill, bike and a tent. The website is just recently launched and it promises to be a success. They also considered the risks of leasing a product in their vision. Some major advantages of Rentsy are:

  • Reliable and safe renting/leasing
  • ID or passport checks (in order to avoid frauds)
  • Try before you buy
  • An easy way to earn some money
  • Revamp the life of the expensive product you do not use
  • Donating to the foodbank

This concept is a success, because consumers might need a product just for one time, and are often not willing to pay the full price for the product. A requirement is to create an account, this will build trust as you can verify the buyer/lessor. Information asymmetry will also be diminished as product descriptions are required. So are you a poor student and in need for a temporary product? Will you consider to use Rentsy?

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