Are you a part of the sharing economy yet? If you’ve used Uber or Airbnb, then you’re part of it. But there’s plenty of other sharing businesses springing up, and one that we think looks especially interesting is the renting business. The internet has made it ridiculously easy to rent your stuff and get paid for it*.

Take Rentoid, as an example. It’s kind of like eBay, with one crucial difference: the stuff in the listing isn’t for sale, its for rent. “Over $101 million worth of cool stuff to rent,” their front page declares. What kind of stuff? Well, anything. When we visited last, their list of most popular items included flashing lights, the Star Wars trilogy – digitally enhanced – a Snap n’Go Baby Infant Carrier Capsule, a fridge, a patio heater, a baritone horn and corporate meeting trestle tables.

But why would you do it?

Well, for the money. If you’re renting out your property, you’re making cash and offsetting the cost of the money you outlaid. If you’re renting, well, you’re avoiding stumping up with that cash in the first place. And it’s all on terms to suit you. You choose your schedule, you choose your rate per day, week, or month.

So what would you rent out?

Take a look around your house and you might be surprised how much is possible.If you’ve got clothes you hardly wear, how about renting them out instead of getting rid of them? If you have a parking spot going unused, why not rent that? Camera and video equipment, your toilet, even, on frantic festival days. There are sites that let you you rent out your wifi connection. If you have a bike, you can rent that out, too.

And of course there’s your home itself. The name most people think of is Airbnb, but there are  plenty of others in the market too, all happy to list your home or just a room.

But if that seems like a bridge too far for starting out, maybe you might feel more comfortable renting out something smaller. Why not start with something that’s in ridiculously high demand?

Here’s Rentoid’s list of “stuff people are requesting a zillion times each day which we just don’t have any or enough of”:

1. 3D printers – They estimate a four-week payback period on investing in one to rent.
2. iPads – The iPad 2 they say they have very few of, and hundreds of requests and searches daily.
3. Galaxy Tablets
4. XBox Kinnect
5. Car roof boxes – Thule are most popular
6. Caravans and camping gear
7. Projectors – People are sick of hotels and conference rooms charging $300 a day, Rentoid says, and “for a simple laptop projector and would rather rent yours for a reasonable price”
8. Chainsaws – “the ultimate temporary need for when a tree falls down” according to Rentoid.
9. Trailers
10. Ski gear

See anything on that list that you own? It might just be your pay day.

*Our legal department wants us to mention that there are risks with renting out your stuff, such as loss, theft or damage. Of course it’s your choice as a free-thinking independent human being, don’t just do what we tell you, but be warned, renting your stuff out could lead to a variety of situations from losing money rather than making it, right through to alien abduction. (Maybe. The lawyers were unclear on the alien stuff.)

The post Tap into the sharing economy and rent your way to success appeared first on Credit Simple.

Getting your first rental is a rite of passage into the big wide world. You’ll have lots of fun times nesting in your own space. But there’s a lot to learn to make it a great experience.

1. Be prepared to wear out your shoe leather.
You may need to sign up with several local rental agencies and keep a hawk eye out online until you find the one – and get accepted. Before signing the tenancy agreement ask yourself: is it in good condition? Will it be cold in the winter? Is it secure? Tip: Find out if you are expected to mow that football field-sized lawn out the back? Can you park off road? How far is the bus stop/supermarket/pub?

2. You need squillions of $$$$ up front.
If you’re living on the bones of your credit card limit, it can be difficult to get the money together for your first rental. You’ll usually need to pay up front for up to six weeks’ rent in advance as bond, PLUS the first two weeks accommodation, PLUS two weeks rent as a letting fee if you go through a real estate agency. Tip: If you’re really lucky, your landlord may let you pay some of this off over time. In some cases you may have to borrow the money to get your foot in the door.

3. You’ll need to sell yourself.
Sometimes hundreds of people attend viewings. Get yourself to the front of that queue by looking clean, tidy and professional; that means having all the necessary detail in the application and having a good attitude (which includes, for example not letting kids run amok). Tip: Make sure your car is spotless inside and out. Landlords and agents often take a peek to avoid letting to messy people.

4. You pets can cause you trouble.
Many more rentals are available to people without pets. We know that Charlie’s the best behaved dog ever. But for some landlords, all they can see is damage caused by pets. Pets in rental properties can destroy curtains, urinate on or rip up the carpet, scratch doors and walls and so on. In some states, landlords can charge a ‘pet bond’  –  check out your rights if this is the case for you.

5. You need to keep your credit record clean.
Landlords often want to check potential tenants’ credit records. Guess what? If you’ve done a runner from rent or bills in the past the chances are you won’t get a look-in on the perfect house you’ve just found. Check your credit file to see if there are any blemishes (you can check your credit score right here with Credit Simple). Pay off outstanding debt to clean up your record. Tip: You might need a guarantor if your credit record is a little blemished.

Finally, happy house hunting.

The post Top tips for new renters: Eight things to know before you apply appeared first on Credit Simple.