We’ve seen a whole host of apps and varied technologies completely turn established industries on their heads. AirBnB has done it for accommodation; Uber has done it for the taxi service model; and now South Africa’s own RentMyRide is ready to shake things up in the vehicle rental market.
The crux of the company’s function is that it allows a user to rent his or her car out when they’re away or it’s not in use. A lot of assets or resources like cars, tools, or storage space spend a lot of time idle – resulting in an opportunity for companies like RentMyRide to offer users an additional income-stream by letting the public utilise those resources.
They’ve currently got over 1,000 cars registered in Johannesburg, Cape Town, and Durban, with plans to rapidly expand into the rest of the country in 2018.
The main draw for people looking to rent is that RentMyRide suggests their service will allow users to save up to 40% on the rental cost you would incur renting from a traditional car rental service. On the flip side, anyone who has one or more vehicles that they don’t use permanently will have an option to turn an unused asset into additional income – what’s not to like about that?