Have you ever wondered what it would take to start a rent-a-car service? With RelayRides you don’t need to. You can rent out your own car.
The concept is real simple. Car owners can rent out their car by the day or by the hour. You are encouraged to set your own prices, but it is recommended to charge $5 per hour or $40 per day for a full-size sedan.
Currently, RelayRides is available in San Francisco and Chicago. Car owners get 60% of the revenue their vehicles deliver.
This is a new concept in car sharing. If you have an aversion to other people driving your vehicle, then it might not be for you. But in these economic times when gas prices are approaching $4 per gallon, you might be able to use the extra income. If you aren’t using your car, then rent it out.
People who rent your car will be expected to return it in the same condition it was in when they rented it. That is, they should clean it out and put gas in it, just as they would with a traditional rental car.
If you choose to offer your vehicle for rent through RelayRides, your car will be insured by RelayRides through a $1 million insurance policy. Car renters are responsible for the first $500 in repairs.