Haas Faculty of Enterprise College students Launch Peer-to-Peer Rental Market

UC Berkeley Haas Faculty of Enterprise MBA college students launched Gear2Go, a neighborhood platform that enables customers to hire objects from their friends.

The peer-to-peer rental market permits customers to checklist objects on the web site, set their costs and lease time period, and hire to different customers, based on the Gear2Go web site. The location, which is presently in its beta, presents decrease costs than retail lenders, mentioned Fernando Lora, Haas MBA candidate and member of the Gear2Go workforce.

“Folks can hire objects they need to share with the neighborhood, and other people can borrow these objects from their neighbors,” Lora mentioned. “It is our approach of constructing neighborhood, making a extra sustainable setting, and making objects extra accessible.”

The location, which was launched in Might, is presently solely accessible to Haas college students, Lora mentioned. Throughout that point, 160 customers signed up and the platform, which presently lists 150 articles, facilitated 30 transactions.

It’s anticipated to air all through the campus neighborhood in June, based on Lora. The long-term aim of the enterprise is to increase into town and finally the Bay Space as an entire.

For now, the corporate has highlighted the advantage of renting to those that customers know personally.

“We predict it is going to be a lot simpler to hire an merchandise from one among your neighbors than having to go to a retailer,” mentioned Lora. “By going by means of this course of, we’ll make it simpler for you, and we’re additionally going to make it cheaper and extra inexpensive.”

Lenders know the way a lot their prospects are keen to pay, and tenants are extra cautious to keep away from damaging property owned by folks they know and work together with, Lora mentioned.

The corporate is presently providing lenders the complete worth of the merchandise if a tenant breaks it. He plans to associate with insurance coverage corporations sooner or later, Lora added.

“Gear2Go was a lifeline for my tenting journey this weekend,” Erica Soultanian, a consumer of this system, mentioned in a testimonial to the corporate. “I used to be in a position to rapidly rent a tent and a sleeping pad and the entire expertise was tremendous simple.”

Contact David Villani at [email protected] and observe him on Twitter at @ davidvillani7.

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