KHQ Right Now - News and Weather for Spokane and North Idaho | Looking to make or save money? Rent your tools and toys
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"If you take a drill people usually rent it for $10 a day. If you take a digital camera it will be $15 to $30 a day depending on the model," says Jeff Boudier.
He's promoting a website called Zilok.com. It's sort of an online bulletin board for renters. Instead of buying a hedge trimmer or shop vac, you rent it. In this case, the user rents it from a neighbor.
"It's a new way to save money and to make money by renting the things that they have and don't use all the time to other people who need them," says Boudier.
The website brings together those people, creating profiles, searches and maps.
It allows the poster to get money for that computer or power drill when you're not using it.
"The idea is we have so much stuff that we barely use," explained Boudier.
The two sides work out a price, the website takes a cut, and the deal is made.
"No shipping, no dealing behind closed doors," says Boudier. "So it's a face to face transaction, much like Craig's List is trying to do."
All transactions are backed up by a contract to protect property owners if an item is broken or stolen.
So far the transactions have gone pretty smoothly for the one year old company.
With items often renting for around 17 percent of the original price, it can be a great deal for the owner.
"Because it means if you rent your thing six times you will have made more money than if you would have sold it," says Boudier.
Zilok.com is trying to get a foothold in major cities and five countries, wherever items are gathering dust and owners want to make a few bucks.
So far, digital cameras are among the hottest item being rented.
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