What is a Lender ?
A Lender is an individual who lends out their everyday objects, skills or spaces to other people in their community. They can lend for a fee or for free.
Lenders can choose to donate their fee to a good cause
I would like to become a Lender but I don’t know what to lend ?
Through Ecomodo you can pretty much lend anything you like from ..
- everyday objects such as an electric drill, hedge cutter, baby chair, tent, foot spa
- your skills such as guitar lessons, computer repair, gardening advice, DJ
- your spaces such as a garage, a car parking space, classroom, beach hut
Need inspiration ?
Do I need to be registered to lend my stuff on Ecomodo ?
Yes you do. To lend items we need to know a little about you and we collect this information during registration. We will ask for your name, contact details, a screen name and your Paypal e-mail address to pass fees to. We also ask you to set a personal password to secure your account.
I want to lend stuff but do not have a Paypal account
Don't worry. It is quick and simple to set-up an account with Paypal and this can be used with many other online services. Find out more about Paypal
Can I make money from lending ?
Yes you can. Make money for either yourself or your favourite good cause.
How much does it cost me to lend ?
Lending costs nothing except a little of your time and could make you a useful income. It's free to add items to lend and the cost to borrow an item is up to you. Some Lenders choose to lend for free, others charge a fee.
If you're charging a fee, to keep for yourself or to donate to a chosen charity, Ecomodo adds a small commission to the cost of the lend. This commission is 7% of the cost of the lend (or £1 minimum) plus transaction fees that are variable depending on the cost of the lend and whether you opt to take insurance.
Here's a working example ..
A lender chooses to hire a bike out for £15 for a week.
The borrower pays £16.74 as follows:
- £15 hire fees
- £1 administration fees
- £0.74 transaction fees (this will reduce as our volume increases)
Once the hire is finished we pass £15 directly to the lender or their chosen good cause. UK registered charities could receive £19.20 in total once gift aid has been claimed.
When adding an item to lend there is a handy onscreen calculator to help you set the price showing clearly your return and the cost to borrow.
Do I have to give the money to a good cause ?
No. When you add an item to lend you can choose where your earnings go, so you can choose to keep it for yourself.
I have an item I would like to lend. What do I do next ?
Excellent. To find out more read our FAQs on lending items
What happens if the Borrower does not show up to collect ?
We understand it is very irritating if a Borrower does not show at an agreed time but at Ecomodo we believe in giving everyone a second chance (because some days stuff just happens).
If your Borrower hasn't shown up, the first thing to do is let us know. Do this by using the actions menu on the relevant ticket in active. We will then nudge the Borrower to find out if they still wish to borrow your item.
If they do, they will need to arrange a new collection time with you. If we do not hear anything from them within 7 days we will mark this booking in dispute and let you know what happens next.
What if something I lend gets lost or broken or is not returned ?
If you choose not have a deposit taken or to include insurance then we're afraid there is nothing you can do other than leave feedback declaring your disappointment.
If you did take a deposit and / or insurance you must decide whether you wish to pursue a claim. That’s entirely up to you.Simply use our dispute resolution wizard to declare if something is lost, broken or not returned and we will guide you through the next steps.
If both deposit and insurance pay out you will be repaid virtually 100% of the value of the item (as stated by you).
Please note Ecomodo decides on the outcome with regards to the deposit, and RSA decides the outcome with regards to the insurance.
Is it safe to lend my stuff ?
We have tried to make Ecomodo as safe as possible by minimising the damage if things go wrong.
When lending an item, we advise that you choose to have a deposit taken and / or include insurance, therefore, in event that something does go wrong you may be compensated.
Are there some things I cannot lend through Ecomodo ?
So everyone can enjoy our service there are certain things that are prohibited to lend and borrow on Ecomodo. These include items of a sexual nature, fire arms, live animals and perishable items. For a full list please review our
Rules for Lenders.
How much time does it take to be a Lender ?
For an object or space, lending doesn't take much time at all.
Once you have entered the details of your item simply wait until a Borrower requests it. Upon receiving a request (via e-mail), if you are happy simply click the button to send contact. The Borrower can then make the booking and you just need to be there for collection and return.
However for a skill, the overall time will depend how much time is needed to carry out the task.
Can I control who I lend to ?
Yes you can. For each item you lend you can choose who it is available to. This could be everyone, only people in your circles or just to your friends.
Also, once you receive a request, you can check out the borrower's profile and feedback before committing to lend your item.
Do I have to use the loan sheet ?
No. For each lend, we recommend that you print out a loan sheet that can be signed by both parties, but it is not compulsory. Either the Borrower or yourself can choose to use it.
Can I keep my location entirely secret?
No. We need to show your general location on a map to allow others locally to search for your items. But your location is plotted using only sector level postcodes to protect your privacy.
During registration you can plot your location and decide how accurate you want to be. You can change the accuracy in you account at anytime.
Your contact details will not be made available to anyone without your permission. In accepting a request for your item you are providing this permission. Your contact details will only be passed to the Borrower once a booking is complete.
Will my contact details be shared?
Your contact details will not be made available to anyone without your permission. In accepting a request for your item you are providing this permission. Your contact details will be passed onto the Borrower once they have booked an item from you so they can come to collect.