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 10% 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?

Lendy is committed to fostering a safe and trustworthy community of sharers and borrowers. Whilst we don’t provide insurance or facilitate bond transactions directly, we encourage users to protect their items by arranging a bond as part of the rental agreement. Please note that bond transactions are handled directly between the Lender and the Borrower, and we recommend clear communication and written agreements to ensure a smooth and secure process.

In addition, our user review system helps build trust within the community by allowing members to share their experiences. Checking reviews before lending can help you make informed decisions about who you’re engaging with. By promoting responsible behaviour and open communication, Lendy aims to create a positive and secure experience for everyone.

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 inbox and if possible, submit a new booking request for the desired additional lend period.

What if I lose or damage an item?

If you lose or damage an item you’ve borrowed, it’s important to address the situation promptly and responsibly. At Lendy, we’re committed to building a safe and secure community where people can rely on each other.

We encourage open and honest communication between the Lendee and the Lender to resolve any issues. Agreeing on a bond before the lend begins can provide peace of mind and help cover potential problems. Please note that bond transactions are arranged directly between the Lender and the Lendee and are not managed or facilitated by Lendy. We recommend having a written agreement in place to ensure clarity and avoid misunderstandings.

Our user review system is another way we foster trust and accountability within the community. By acting responsibly and maintaining clear communication, you contribute to the positive and supportive environment we’re striving to create at Lendy.

Is there an option for contactless pickup?

This is up to your Lender. You can request contactless pickup upon submitting your lend request.

Where do I pick up and return the item?

Arrange your pickup and return location directly with the Lender through your Lendy inbox. 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.