How does the rental process work for Lenders?
To list an item for rent on LEND-IT.CA, create a detailed listing including the item’s description, rental terms, and price. Once your listing is live, Borrowers can browse and book the item. When a rental is confirmed, you’ll receive the payment. Ensure clear communication with the Borrower and provide the item in good condition. After the rental period, inspect the item upon return and report any issues if necessary.
What happens if an item is damaged, lost, or stolen?
If an item is damaged, lost, or stolen, the Borrower may be charged for repair, cleaning, or replacement costs, up to $300 pre-authorized on their credit card, with additional fees if costs exceed this amount. Charges are non-refundable. LEND-IT.CA's Lender Guarantee Policy covers damages or theft up to $3,000, provided the Lender follows policy requirements like accurate listings and prompt reporting.
What should I do if a Borrower returns an item late?
If a Borrower returns an item late, the Lender should email us at info@lend-it.ca with the details. We'll decide if a cancellation fee applies. If so, the "Late Fee" includes: (a) a per-hour charge prorated based on the rental rate; and (b) a $50 flat fee if the item is over 3 hours late. The Late Fee will be paid to the Lender, minus payment processing fees and GST.
How do I get paid as a Lender?
Lenders receive payments through the platform’s secure payment system. Rental earning are transferred to the account on file. Payments are typically processed within 3-5 business days after the rental period ends.
Is posting a rental listing free for Lenders?
Yes! At this time, posting a listing on LEND-IT.CA is completely free for Lenders. No hidden fees.