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Would I rent out my equipment to earn cash?
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PostPosted: Wed Apr 23, 2014 8:44 am 
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lenditmendit wrote:
I'm simply trying to get to the underlying problem and figure out if there's a way to address concerns that's all; I welcome the honest feedback.

Airbnb has had a lot of success, but many people also initially asked why would you want to rent out your house?.. I guess it's all about trust. Perhaps professional tools is not the area to target.

I'm unsure if PAT testing would apply given they would still be under private ownership, but I'll look into that.

Thanks again for the feedback.


its very easy to substantially reduce the value off a tool towards zero but compared to a house even with bad tenants where the damage will more off an inconvenience rather than a total loss

renting a house is a completely different model to tool hiring

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PostPosted: Wed Apr 23, 2014 9:42 am 
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If you think PAT testing wouldn't be required then consider this scenario:-

You hire out one of your tools for cash reward, the user mis-uses it (maybe drops it and breaks the casing or damages the power cord, but continues to use it), the user gets fatally electrocuted.

The users wife and kids have lost their breadwinner and face losing their home because they can't pay the mortgage. They hire a no win, no fee lawyer to sue you for operating as a hire business without ensuring that the products you hire out are safe to use.

Without a PAT test carried out by a qualified person before each hire and rigorous paperwork you can't prove that the tool was in perfect condition the last time you saw it. Tearful, homeless, widow and orphan kids tug the heart strings in court and before you know it it's your wife and kids who are homeless and you're facing criminal charges for hiring out unsafe electrical equipment.

Apart from the inconvenience of the hiring process itself, the risks are just too big to be justified by any possible reward.

I don't ever even allow my colleagues to touch my tools, never mind hiring them to strangers!


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PostPosted: Wed Apr 23, 2014 10:50 am 
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Of more use would be a site dedicated to 'used' tools that can be sold on after use.

Some might say eBay offers this service but a 'dedicated' site with tool reviews, price guides (based on age/condition etc), servicing and spares sources, equipment operating manuals (and servicing manuals) online AND an escrow service to guarantee payments/acceptability of the tools????

Something like 2ndhandtoolstation ???? (PS - I retain copyright on the name and idea :mrgreen: )

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