You already know how you can earn extra cash by listing your home on Airbnb and letting travelers crash at your place. But what about the rest of your stuff—your camera, your drone, your video game console?
A new fully insured peer-to-peer rental service that launched in London is making that possible—and the company has plans to expand the United States by the end of this year.
It’s called Fat Lama (bet you won’t forget that name, will you?) and it’s captured the attention of more than 10,000 users since launching last November.
Rent Out Your Stuff
“Fat Lama is the platform that lets you rent out your belongings to others nearby,” according to the company’s website. “Why? Because we know sharing is the future, we know that having experiences is more important than owning stuff.”
In other words, why buy an expensive tool or device you don’t plan to use more than once? You could rent it when you need it, then put all the money you’re saved toward a vacation or a night out on the town.
The creators of Fat Lama also point out that letting other people borrow your stuff will save you money on storage.
Make $450 A Month
Plus, you can earn money renting out your stuff on Fat Lama. In fact, the creators say it’s actually possible to make back the money you spent on the item by listing it on Fat Lama.
The company says the average amount a lender earns each month is $450 (£346), which is nothing to laugh about.
One man is on track to earn $2,600 (£2000) this month by renting out his filmmaking equipment through Fat Lama. Tom Bryan is earning enough money to cover the rent for his office, according to Fat Lama.
Bikes, Drones And More
We took a quick peek at some of the items currently for rent on Fat Lama and saw an array of items—a bicycle, a drone, a canvas event tent, a guitar and a drill set.
But what happens if someone steals or breaks your super expensive Playstation? Fat Lama promises to cover the cost of theft or damage while it’s being rented to another user.
It’s also environmentally friendly. Where do we sign up?