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Before I begin, a simple request: This topic is for people who are interested in learning more about peer-to-peer (P2P) bike rental. It's accepted there are those who "could never possibly consider such a ludicrous idea", for whom "the risks aren't worth the benefits", who believe "my Baby shall only be touched by my hands and those of God". This topic isn't for the latter. If you are one of those who disagrees with P2P rental, I respectfully ask you to start your own topic.
BACKGROUND:
I was once a person that would not let anyone ride my motorcycle. I wanted to keep my motorcycle as pristine as possible, and one of the ways I could help ensure that was to be the only one riding it. And, if something did happen (which it did), I was going to be the one making the repairs and getting it back on the road. But a few years ago I started changing (perhaps evolving?) my thinking to more of a 'things are just things' attitude. I think I'm happier for doing so.
So when the concept of P2P bike rental first became a thing, I saw it is a good test of my newer mindset. I listed my 2012 DL650 on two sites in quick succession and waited. And waited. And waited. And then I got my first rental.
I feel bad for that first renter, because I quizzed him mercilessly before agreeing to the rental (Point #1: The sites allow you to communicate with a potential renter before agreeing to the rental). I was nervous as H when I handed the keys over, and couldn't even watch him ride away for fear I'd see something that would cause me to second-guess my decision over the next 24 hours. Which I did anyways.
But the bike came back fine, and the renter was happy. So happy, in fact, he rented it again a few months later.
That first year, I think I only had 3 rentals. The next year, I had maybe 6-7. This season so far, I already have 5 reservations, and the bike is out on a 5-day rental right now.
For me, the risk IS worth the reward, as all my rental income goes into a 'Bike Fund' that I can draw off of for needed repairs, new gear (splurged on a new Klim riding jacket this year), and, hopefully in 1-2 years, fund the cash purchase of a new bike.
Here is information, tips and techniques I've discovered based on my experiences with P2P rental. I'm no expert, just a user that's learned a few things about a relatively new concept in rentals.
THE PLAYERS:
I'm aware of 3 companies currently offering P2P motorcycle rental at this time:
Twisted Road (TR)
I believe they were the first.
Riders Share (RS)
The one I currently get most of my rentals from.
EagleShare (ES)
An off-shoot of the established bike rental company EagleRider, been around for about a year.
My bike is listed on all 3, at the same daily rate.
INSURANCE:
The first question usually asked by someone inquiring about this is about insurance. Each company has its own way of handling it, but here's the short version. While the bike is out on a rental, it's covered by the company's property damage insurance. The amounts vary, but it's around $10,000-$25,000 in damages. All companies offer liability coverage to some extent. Their offers seem to improve every time I look; the last time I did I believe it was TR that included the state-mandated minimum liability coverage as part of the rental, but the bike owner can pay a little extra for a higher amount of coverage. I know ES offers up to $1,000,000 in liability coverage for "qualified" owners. If you're new to this, I recommend researching and fully understanding the insurance offerings of each company before listing your bike.
It's also a good idea to check with your own insurance company to make sure it will cover you if the bike is out on a rental. Some insurance companies have refused to cover incidents that occur while the bike is on a rental. For myself, I ensured my personal policy would be in place during a rental, if needed. Plus, I added an inexpensive umbrella policy that covers me up to $1,000,000.
THE RENTER:
Each company takes responsibility for verifying the renter has a valid motorcycle license. Before handing off the bike to a renter, the owner is obliged to take a photo of the renter's driver's license. It's not a terrible idea to double-check the expiration date of the license when doing so.
As mentioned earlier, the owner has the ability to communicate with a potential renter before accepting a rental. I use this as an opportunity to inquire about the renter's riding experience -- I'm not in the habit of renting to new riders that want to test ride bikes.
I'm a fan of overcommunicating, to keep the renter aware of anything that may impact their experience. For example, I had 3 rentals set up over a 2-week time period. My bike was knocked over by a car and had some minor damages. I let all 3 know about the incident right away, and said I intended to fix things before their rentals. One renter canceled. The other 2 said it wasn't a problem. Once I had the repairs done, I again messaged the 2 remaining renters, who both expressed appreciation for the update.
PERSONAL SAFETY & PROPERTY PROTECTION:
The fact remains that you are, most times, meeting a stranger and handing them the keys to your valuable property. There are still, sadly, people in the world that would like to take advantage of this. It's helpful there's no cash money being exchanged, so that keeps some of the real riff-raff away. Here are some things I do to keep myself and my property safe:
Cancellations are just an accepted part of this industry. I've had people cancel because they didn't like the looks of the weather during their rental period, because they were stuck in Europe due to COVID restrictions, because their plans changed, and so on. Since I don't rely on this income, it doesn't bother me too much -- it just means more days where I get to ride the bike instead of a renter.
Something I've seen change since I started is how the P2P companies have been treating rental refusals by bike owners. Early on, I could decline as many rental requests as I wanted to, without ramifications. I suppose that was because they were trying to build their bike offerings to renters. More recently, I've been getting push-back any time I refuse a rental. RS has been the worst for this. Last year I declined a rental because the potential renter had very little riding experience. The next day, my bike was de-listed from the site. I had to reach out to them and explain the situation before they relisted it. This year, I was in communication with a potential renter and we were trying to work out details of hand-off times. We exceeded the 12-hour window RS gave for an acceptance, and the rental was automatically declined and my bike was again de-listed. I again had to contact them and explain the situation before they would relist my bike. And then I had to reach out to the renter, who was understandably miffed at my apparent refusal, and apologize.
COMMUNICATIONS:
As I've indicated, all companies offer a relatively easy means of communicating with the renter through internal messaging. I use it extensively in advance of accepting a rental. At, or just before hand-off, I usually provide the renter with my phone number for easier communications while the rental is ongoing. That way they can get to me faster if they have a problem with or questions about the bike.
EARNINGS:
OK, you've read this far, finally time to talk about $$$.
The bike owner sets the daily rental price. I know TR has upper and lower limits on rates. Each company has their own fee structure, so it's important to understand that before deciding on which you want to list on. Also, most will automatically offer discounts for multi-day rentals. My daily rental rate is currently $90, but on RS for example it can go down to as low as $50/day if someone rents it for enough days. When I began, I started at a pretty low rate ($70, I think). This was so I could get some renters who would hopefully then leave me positive comments. Once that happened, I began increasing my daily rate.
Of that $90, I will make between $65-$75 per day. Here is what I made from some recent rentals:
RS, 5 days, $265
RS, 1 day, $67
RS, 6 day, $191
TR, 1 day, $63
TR, 2 day, $105 (my daily rate was $80 for this one)
ER, 2 day, $135
I'm sure there's more to talk about, but hopefully this information is helpful to anyone thinking about or just getting started with P2P rental.
BACKGROUND:
I was once a person that would not let anyone ride my motorcycle. I wanted to keep my motorcycle as pristine as possible, and one of the ways I could help ensure that was to be the only one riding it. And, if something did happen (which it did), I was going to be the one making the repairs and getting it back on the road. But a few years ago I started changing (perhaps evolving?) my thinking to more of a 'things are just things' attitude. I think I'm happier for doing so.
So when the concept of P2P bike rental first became a thing, I saw it is a good test of my newer mindset. I listed my 2012 DL650 on two sites in quick succession and waited. And waited. And waited. And then I got my first rental.
I feel bad for that first renter, because I quizzed him mercilessly before agreeing to the rental (Point #1: The sites allow you to communicate with a potential renter before agreeing to the rental). I was nervous as H when I handed the keys over, and couldn't even watch him ride away for fear I'd see something that would cause me to second-guess my decision over the next 24 hours. Which I did anyways.
But the bike came back fine, and the renter was happy. So happy, in fact, he rented it again a few months later.
That first year, I think I only had 3 rentals. The next year, I had maybe 6-7. This season so far, I already have 5 reservations, and the bike is out on a 5-day rental right now.
For me, the risk IS worth the reward, as all my rental income goes into a 'Bike Fund' that I can draw off of for needed repairs, new gear (splurged on a new Klim riding jacket this year), and, hopefully in 1-2 years, fund the cash purchase of a new bike.
Here is information, tips and techniques I've discovered based on my experiences with P2P rental. I'm no expert, just a user that's learned a few things about a relatively new concept in rentals.
THE PLAYERS:
I'm aware of 3 companies currently offering P2P motorcycle rental at this time:
Twisted Road (TR)
I believe they were the first.
Riders Share (RS)
The one I currently get most of my rentals from.
EagleShare (ES)
An off-shoot of the established bike rental company EagleRider, been around for about a year.
My bike is listed on all 3, at the same daily rate.
INSURANCE:
The first question usually asked by someone inquiring about this is about insurance. Each company has its own way of handling it, but here's the short version. While the bike is out on a rental, it's covered by the company's property damage insurance. The amounts vary, but it's around $10,000-$25,000 in damages. All companies offer liability coverage to some extent. Their offers seem to improve every time I look; the last time I did I believe it was TR that included the state-mandated minimum liability coverage as part of the rental, but the bike owner can pay a little extra for a higher amount of coverage. I know ES offers up to $1,000,000 in liability coverage for "qualified" owners. If you're new to this, I recommend researching and fully understanding the insurance offerings of each company before listing your bike.
It's also a good idea to check with your own insurance company to make sure it will cover you if the bike is out on a rental. Some insurance companies have refused to cover incidents that occur while the bike is on a rental. For myself, I ensured my personal policy would be in place during a rental, if needed. Plus, I added an inexpensive umbrella policy that covers me up to $1,000,000.
THE RENTER:
Each company takes responsibility for verifying the renter has a valid motorcycle license. Before handing off the bike to a renter, the owner is obliged to take a photo of the renter's driver's license. It's not a terrible idea to double-check the expiration date of the license when doing so.
As mentioned earlier, the owner has the ability to communicate with a potential renter before accepting a rental. I use this as an opportunity to inquire about the renter's riding experience -- I'm not in the habit of renting to new riders that want to test ride bikes.
I'm a fan of overcommunicating, to keep the renter aware of anything that may impact their experience. For example, I had 3 rentals set up over a 2-week time period. My bike was knocked over by a car and had some minor damages. I let all 3 know about the incident right away, and said I intended to fix things before their rentals. One renter canceled. The other 2 said it wasn't a problem. Once I had the repairs done, I again messaged the 2 remaining renters, who both expressed appreciation for the update.
PERSONAL SAFETY & PROPERTY PROTECTION:
The fact remains that you are, most times, meeting a stranger and handing them the keys to your valuable property. There are still, sadly, people in the world that would like to take advantage of this. It's helpful there's no cash money being exchanged, so that keeps some of the real riff-raff away. Here are some things I do to keep myself and my property safe:
- I don't do hand-offs at my home. Instead I use a local police station festooned with security cameras. And I make sure the renter is aware of this in advance.
- I check the renter's name in my state's public-access court records system, looking for any history of concerning cases.
- I usually bring someone with me to the hand-off. Most of the times it's my wife, who I can explain to the renter is there to give me a ride home. My companion keeps an eye on the proceedings and is ready to call for help if necessary.
- I have investigated, but not yet purchased, tracking devices. Check with your state laws about this, as some prevent you from tracking someone without their knowledge. Most of the devices I looked into required a monthly subscription fee. Apple AirTag is something I've been hearing about as a potential solution, but I haven't looked much into it yet.
Cancellations are just an accepted part of this industry. I've had people cancel because they didn't like the looks of the weather during their rental period, because they were stuck in Europe due to COVID restrictions, because their plans changed, and so on. Since I don't rely on this income, it doesn't bother me too much -- it just means more days where I get to ride the bike instead of a renter.
Something I've seen change since I started is how the P2P companies have been treating rental refusals by bike owners. Early on, I could decline as many rental requests as I wanted to, without ramifications. I suppose that was because they were trying to build their bike offerings to renters. More recently, I've been getting push-back any time I refuse a rental. RS has been the worst for this. Last year I declined a rental because the potential renter had very little riding experience. The next day, my bike was de-listed from the site. I had to reach out to them and explain the situation before they relisted it. This year, I was in communication with a potential renter and we were trying to work out details of hand-off times. We exceeded the 12-hour window RS gave for an acceptance, and the rental was automatically declined and my bike was again de-listed. I again had to contact them and explain the situation before they would relist my bike. And then I had to reach out to the renter, who was understandably miffed at my apparent refusal, and apologize.
COMMUNICATIONS:
As I've indicated, all companies offer a relatively easy means of communicating with the renter through internal messaging. I use it extensively in advance of accepting a rental. At, or just before hand-off, I usually provide the renter with my phone number for easier communications while the rental is ongoing. That way they can get to me faster if they have a problem with or questions about the bike.
EARNINGS:
OK, you've read this far, finally time to talk about $$$.
The bike owner sets the daily rental price. I know TR has upper and lower limits on rates. Each company has their own fee structure, so it's important to understand that before deciding on which you want to list on. Also, most will automatically offer discounts for multi-day rentals. My daily rental rate is currently $90, but on RS for example it can go down to as low as $50/day if someone rents it for enough days. When I began, I started at a pretty low rate ($70, I think). This was so I could get some renters who would hopefully then leave me positive comments. Once that happened, I began increasing my daily rate.
Of that $90, I will make between $65-$75 per day. Here is what I made from some recent rentals:
RS, 5 days, $265
RS, 1 day, $67
RS, 6 day, $191
TR, 1 day, $63
TR, 2 day, $105 (my daily rate was $80 for this one)
ER, 2 day, $135
I'm sure there's more to talk about, but hopefully this information is helpful to anyone thinking about or just getting started with P2P rental.
