Renters insurance $7500? Is this the only liability? What if the person rents a ladder then falls off the roof, what stops frivolous claims for damages. Not sure theft is the biggest liability question here, any thoughts

Ty, thanks for your question. The damage waivers cover damage to the item up to $7,500. It is not renters insurance. In the enormous industry in North American involved with equipment rentals, as a rule of thumb, all bodily injury and property damages which may happen as a consequence of equipment operations are covered by the general liability insurance of the rental company. This specifically aims at providing the kind of coverage needed when equipment is being used by a renter, and problem...

I love this idea. I'm a little disappointed that it is only offered in California at this time. What are your plans to make it nationwide? Is there a vetting process for the renters? Can they be in another state and rent?

Thank you for your question Lisa-Anne. We are currently marketing and promoting our platform in Los Angeles and we soon are going to expand to other cities. With that said, there are no geographical limits as to go can rent items or who can rent out items. We often see people from other states renting items to be used while visiting Los Angeles. Like scooters for Disneyland, car seats, strollers and many other items. Yes, both the owner and the renter go through the vetting process.

Can you explain how the SAFE works with an LLC. Will the future equity be LLC units which will trigger Schedule K-1s at tax time?

Hi Stefan, Yes, the future equity will be LLC units receiving the benefits and rights of those units including a K1 form as members.

Is there any kind of rating system that would eventually ban bad owners / renters from the site? I find such ratings a very important part of person-to-person transactions (eBay and Amazon sellers being huge examples).

Hi David, I agree with you completely. We have a rating system for both owners and renters to rate each other. As platform, we monitor the ratings and ban people that generate complaints and bad ratings. Also, we have a detailed vetting process for rental companies already in the business. Thanks for the question!

When was rentus.com launched and how many rentals have occurred on the platform to date?

Ryan, we launched at the end of January. So far we are outperforming our plans and growing at a rapid rate. We will announce numbers in the near future.

Rentus.com

Online marketplace for users to rent anything and everything

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