

The leased life - Why own anything? - bgraves
http://www.boston.com/bostonglobe/ideas/articles/2010/01/24/the_leased_life?mode=PF
Interesting article about Rentalic.com (and other similar services) which makes it easier to lend and borrow common, but infrequently used.<p>Like so many other websites, it connects mutual beneficiaries - in this case, people who own things they don’t use much with people who want to use things without owning them. Members can post either belongings they have to offer or goods they are hoping to find. Items recently listed include a body fat scale ($5 a week), a bread maker ($1.75 a day), and a cupcake transporter ($3 a week). The site was launched last October with limited membership, and opened to the public earlier this month.<p>There have been many times where I've wanted to borrow/rent a high performance DSLR camera (for sporting events, special outings, etc.) but wouldn't feel right just bugging my friend for theirs. I can't afford the $1000+ price tag either, so that's not an option. I can understand that the DSLR example may not be the best example, because it's very expensive and fragile, but there are many other items available on their site which make perfect sense to borrow/rent for a fee (bikes, golf clubs, wheelbarrows, etc.)
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bgraves
Interesting article about Rentalic.com (and other similar services) which
makes it easier to lend and borrow common, but infrequently used.

 _Like so many other websites, it connects mutual beneficiaries - in this
case, people who own things they don’t use much with people who want to use
things without owning them. Members can post either belongings they have to
offer or goods they are hoping to find. Items recently listed include a body
fat scale ($5 a week), a bread maker ($1.75 a day), and a cupcake transporter
($3 a week). The site was launched last October with limited membership, and
opened to the public earlier this month._

There have been many times where I've wanted to borrow/rent a high performance
DSLR camera (for sporting events, special outings, etc.) but wouldn't feel
right just bugging my friend for theirs. I can't afford the $1000+ price tag
either, so that's not an option. I can understand that the DSLR example may
not be the best example, because it's very expensive and fragile, but there
are many other items available on their site which make perfect sense to
borrow/rent for a fee (bikes, golf clubs, wheelbarrows, etc.)

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HeyLaughingBoy
This idea works well when the product is infrequently used and you can predict
the need. If you can't predict that need then it's generally more convenient
to purchase. And that's the key term: _convenience_. People don't willingly
inconvenience themselves without good reason.

Alternately, leasing works when the item you're leasing would cost too much to
purchase outright. But that's not the case with the consumer items they're
talking about here.

Businesses will often lean towards leasing instead of purchasing because one
is normally paid from the Operations budget and the other from the Capital
budget. For individual consumers who don't look at finance that way, leasing
is about convenience and affordability. .

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raffi
Folks should read predictably irrational. Market norms bring out different
attributes in people than social norms. I'd much rather borrow something from
my neighbor (and return the favor) over trying to extract every dime I can
from them (or vice versa).

~~~
bgraves
I agree with you about common items like a cup of sugar or a couple of eggs
while making a dessert, but how about more expensive items like a lawn mower,
snow blower, power washer that you will probably use a few times during the
year but not enough to justify purchasing it outright (in your mind at least).

Then you have the whole eco-friendly nature of this idea -- it makes sense for
many people to share these durable goods. This site makes it easier for a
neighborhood to 'share' in the repair costs, upkeep, storage, etc. without
actually having to pay condo association fees. I would gladly spend an extra
$200 for a better, longer lasting lawn mower if I knew it was going to be used
more frequently by my neighbors, and they were going to reimburse me for the
upkeep and storage costs.

~~~
nradov
How do they resolve the liability issue? Someone who hurts himself with your
lawnmower might try to sue you. Your homeowner's / renter's insurance policy
will probably not cover what amounts to running a business out of your home.

~~~
bgraves
I'm not a lawyer, but I disagree with both of your points. This isn't a
business (you won't be collecting taxes, for instance) and I don't think you'd
be responsible for someone getting hurt. Also, power tools and other dangerous
equipment is only category here. Baby/toddler equipment, camping gear,
sporting goods, etc. are all too expensive if you just need to borrow
something for a day or a week.

~~~
nradov
What do you mean not collecting taxes? If you rent your lawnmower to someone,
that's taxable income. Of course many people cheat on little things like this,
but technically they are supposed to pay.

