FAQs

Have questions? We have the answers.

What is Lendy?

Lendy is a Sunshine Coast-based startup with a vision for the future. An online platform connecting through the rental exchange of everyday items. Lendy enables everyday people to generate an income stream from their existing items, while providing access and convenience for people looking for short-term use of said items.

What is an MVP?

An MVP is a minimum viable product which has just enough features to be usable by early customers who can then provide feedback for future product development. Lendy is starting with an MVP to ensure that we are able to provide the best possible service and experience to you, our users.

How do I start a rental business in Australia?

We’ve made starting a rental business easier and less risky by creating a platform with additional levels of protection for the lender and lendee. Simply create a profile with us and begin listing items to share with your community at a price that you set.

Do I need much equipment to start a rental business?

With Lendy, you can hire out as little or as much as you like. There are no minimum listings required.

What are the fees, payments, and disputes fees with Lendy?

At Lendy, we make starting a rental business easier for you. To cover our costs for payment processing and marketplace operations, we charge a 13% transaction fee, which includes the Stripe fee. The Stripe fee is based on your account’s fees and is usually around 2.9%.

In the event that there is a dispute, you are covered by Stripe’s Payment Protection. This is why we choose to use Stripe as the form of payment for all transactions.

What if my items get lost or damaged?

At Lendy our comprehensive protection is included for free with each and every lend up to the value of $2,000. If for any reason your item is lost, stolen or damaged we have got you covered.

You can read the full Lendy Cover agreement here.

What is the most profitable thing to rent?

Here is a list of popular items:
Power tools (such as drills, saws, and sanders)
Lawn maintenance equipment (such as lawn mowers and leaf blowers)
Kitchen appliances (such as blenders, mixers, and food processors)
Camping gear (such as tents, sleeping bags, and portable stoves)
Party supplies (such as tables, chairs, and decorations)
Electronics (such as cameras, projectors, and speakers)
Sporting equipment (such as bicycles, golf clubs, and kayaks)
Baby gear (such as strollers, high chairs, and playpens)
Musical instruments (such as guitars, keyboards, and drums)
Clothing and accessories (such as formal wear, costumes, and jewellery).

What things are rented the most?

Have you stored away the cot? Are you saving all those baby items for someone you know but it’s just sitting there collecting dust in the meantime? Believe it or not, there are over 40,000 searches for cot hire in Australia a month, 6,000 searches for bike hire, 2000 searches for tool hire… and that’s only on Google alone. Just imagine capitalising on this need and doing your part to reduce mass consumerism by simply lending out what you have stored away, while you don’t need it.

How do I use the search filters to find the item I want to borrow?

It’s so simple. Type in your location, explore categories and filter your results with keywords.

How long can I rent an item for?

It’s totally up to you and the lender. Use the calendar function on the listing to see when an item is available. From here you can request to use the items for as many days as you like within that date range.

What if I want to extend the lease?

Simply reach out to your Lender via the portal.

What if I lose or damage an item?

We have you covered. You can view the full terms of the free Lendy Cover comprehensive protection included in every lend. *Subject to terms and conditions.

Is there an option for contactless pickup?

This is up to your Lender. You can request contactless pickup, however, please be aware this may make your Lendy Cover redundant, in which case any costs incurred for lost or damaged items will not be covered by the Lender or Lendy. You can read more about Lendy Cover here.

Where do I pick up and drop off the item?

Arrange your pickup and drop-off location directly with the Lender. This is usually at their primary place of residence, so be mindful of respecting their privacy and neighbours. It is always a good idea to ask the Lender about the best place to park on the day.

Do I have to clean the product?

Yes please. Just like you would when borrowing from your neighbour next door, we ask that you kindly clean the item you have borrowed as per the Lender’s instruction. This will avoid any unexpected cleaning fees.

Lendy knows that our initial users are the real MVPs! By lending us your valuable feedback, you’re not only helping to shape the product, but helping us in our quest to create the best possible experience for you.