RentMy1 3rd Party Peer 2 Peer Rental Portal at https://www.rentmy1.com/ 

Did you know  the average use of every electric drill is estimated at 15 minutes? Increasing item usage brings significant environmental benefits through increased efficiency because so much of the world’s finite resources is put into manufacturing them.

RentMy1 democratises renting by empowering individuals and smaller companies to enter the lending market with a level of security and transparency not available through traditional means.  It is the secure Peer 2 Peer Portal where Users can Lend and Rent to each other locally in transactions governed and guaranteed through the RentMy1 Terms of Service.

The purpose of the website is to provide a secure online portal where Lenders who have something to lend and Renters who want to rent it can enter into a transaction securely and transparently. This will allow Lenders and Renters enter local transactions with a sense of security not available though conventional avenues.  As Residents Associations are Groups within which a certain amount of local services and rentals are already facilitated I think the produce would be attractive to members because it will deal with most, if not all of the problems that they may experience using conventional means..

Enterprise Ireland Support

RentMy1 was selected for support under Enterprise Ireland New Frontiers Phase 1 Startup Programme and was also selected and is currently participating in the Phase 2 New Frontiers Programme in competition with other Startups because of its identified  potential.  The Programmes have provided and are providing great assistance and encouragement during the development phase of the RentMy1 project and have been great in advancing the Portal development.

Operating Model

The portal identifies locations of Lenders and Renters facilitating online local rental transactions. Users must sign up to the Terms of Use of the site and provide acceptable answers to a series of appropriate questions which can be verified. Security is provided by a rating system for Renters, Lenders and items, insurance for the items and a dispute resolution mechanism. As a further protection for Renters the rental for an item is deposited with the Portal and is only released to the Lender when the Renter is fully satisfied that the item is what they want.  RentMy1 also intends to encourage a sense of community online  This will be achieved by operating a moderated community blog on the website which will also facilitate group members communicating with each other in a secure environment.

Individuals Sharing Value Securely

RentMy1 can revolutionise lending of items between individuals and is particularly suited to members of Resident Associations and Community Groups.  Any current renting within this group is mainly done by word of mouth and using hard copy noticeboards.. In addition to facilitating renting between members of Groups in fact RentMy1 could facilitate lending between members of different Residents Associations and Community Groups in different areas .The website is under development however it has now gone live as a MVP (Minimum Viable Product) but is not yet operating commercially.. The site can be accessed through this link . Viewing it online is the best way to get a full appreciation of the benefits it can bring.

Eco-friendly

Another aspect to RentMy1 is that it will have a significant impact on increasing the efficiency of usage of manufactured items which clearly has potential to massively reduce the carbon footprint of such items. When you consider that the average usage of each of the electric drills in the world is only 15 minutes you realise that for the sake of the planet efficiency improvements must be made. In addition, as many people nowadays are short of storage space and also may have only a short term requirement for the use of a particular item RentMy1 will prove extremely useful.

Public Participation Networks

Other Local Authority PPN Co-ordinators have recommended that I provide some information to be included in their regular communications with Community Groups.  I would be very keen to provide you in DLR with information on RentMy1 for the same purpose now as we have reached the appropriate stage of development for dissemination of information to such Groups.

In summary

Having now developed the RentMy1 website to the stage where it is almost ready for launch we would appreciate greatly if you or other contacts in the Residents Associations and Community Groups had the time to provide some feedback on your initial experience in accessing the site and seeing its features, bearing in mind that further modifications may be made to the site before it is ready for full launch.

If you are interested in this initiative, please get in touch with Brian Cole at brian@rentmy1.com 

RentMy1 – Sharing Eco-Value Securely Lend Rent Locally Sustainably

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