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-   -   How much to charge someone to rent my bike? (http://www.bikeforums.net/general-cycling-discussion/111047-how-much-charge-someone-rent-my-bike.html)

little5rider 06-01-05 08:24 PM

How much to charge someone to rent my bike?
 
I'm going on a three week trip in a few weeks, and the director (who I am good friends with) has asked me if I could rent my spare bike to another rider. I'm trying to figure out what would be a fair price to charge for the wear and tear from a fairly inexperienced rider over 1500 miles.

My guess is that the following parts will have enough wear to warrant replacement (or at least some compensation): chain, handlebar tape, brake pads, cables, and tires. I also want to figure in some general wear on everything else. The bike is an early-90's Cannondale 2.8 frame built up with mostly 105 components. I take very good care of it since normally it is my primary means of transportation.

I basically have no idea what a fair price would be. I would love some suggestions.

operator 06-01-05 08:35 PM

I would charge nothing and not rent it out. You ain't a bike store. You'll get into touchy feely nasty situations if anything came back really damaged.

Of course this assumes you care a lot about said bike, if not then I have no idea, figure in price of cassette+chain and that should be enough.

supcom 06-01-05 09:22 PM

Like Operator, I would not likely rent out one of my bikes. Not only do you have to worry about the rider damaging the bike, you also may have liability in the event there is a failure leading to a crash.

Nonetheless, if you want to do it, call a bike shop and ask them what they charge to rent a bike of similar quality as yours for the duration of the trip. a quick google search found one shop renting Fuji road bikes for $125 per week.

suntreader 06-01-05 09:36 PM

Bad idea.

Have you ever looked at the rental bikes at the LBS? That's how yours will look if you rent it out.

You also have to think about the issue of liability if the renter hurts himself or a third party while using your bike.

forum*rider 06-01-05 09:37 PM

If it is your primary means of transportation I wouldn't rent it out. Especially to an inexperienced rider.

Thats like somone renting out there car to me. A 15yo kid with a permit and only about 100mi of driving experience under his belt.

TheKillerPenguin 06-01-05 09:39 PM

you're a lot nicer than I am. I get nervous when someone else even touches my bike

Guest 06-01-05 09:41 PM

I'm in agreement. Get them a junker at some Salvation Army for 20 bucks.

Koffee

DieselDan 06-01-05 09:47 PM

A co-worker of mine rented out his road bike to a guest at the resort we both worked at, and never saw it again. He filed a police report and was fired for it.

forum*rider 06-01-05 09:53 PM

Quote:

Originally Posted by DieselDan
A co-worker of mine rented out his road bike to a guest at the resort we both worked at, and never saw it again. He filed a police report and was fired for it.

I would like to know what the hell the reasoning was behind him being fired for trying to get his property back.

PWRDbyTRD 06-01-05 10:11 PM

I wouldn't rent my bike, unless the person is willing to fix anything they break...

jeff-o 06-02-05 05:35 AM

Charge just enough to cover the cost of the lawyer, to write up the waiver.

ratdog 06-02-05 08:20 AM

Quote:

Originally Posted by forum*rider
I would like to know what the hell the reasoning was behind him being fired for trying to get his property back.


He was renting his own bike out at the resort. That makes the resort somewhat responsible for his actions and any accidents due to faulty parts on his bike since he's an employee & running a private business on the resort's property.

Retro Grouch 06-02-05 09:37 AM

Quote:

Originally Posted by little5rider
I'm going on a three week trip in a few weeks, and the director (who I am good friends with) has asked me if I could rent my spare bike to another rider.

To me the issue is that you would be renting your bike to someone who you don't know. What if you decide that you don't like the person? You'll build a resentment everytime you see them do something with your bike that you don't approve of. The problem with doing something like this on a one time basis is that, if even everything goes well you still don't make enough money to improve your lifestyle. If it goes badly, you're screwed. In other words, if you win you don't win much but if you lose you can lose big.

If it were a good friend, on the other hand, I'd lend them the bike not charge anything and assume they will do the right thing by me.

operator 06-02-05 09:50 AM

Quote:

Originally Posted by DieselDan
A co-worker of mine rented out his road bike to a guest at the resort we both worked at, and never saw it again. He filed a police report and was fired for it.

That doesn't make a lot of sense. Could you elaborate.

Keith99 06-02-05 09:56 AM

Years ago I took a basic law course. One case that came up was if you let someone store something in your garage you assume some responsibility for it. But that responsibility is minimal, e.g. it is your fault if it gets stolen because you left the door open and anyone can see the stuff and just walk in and take it. BUT if you take money, even just a few bucks then you have the same level of responsibility as a commercial storage facility and have to provide the same tyoe of security to not be negligent.


The same would likely apply here. It is a sad comment on the society we live in. Having an agreement that he replaces worn parts might get arround this problem. Of course it does put you at risk if he is a flake, but far less risk than the liability issue. (On the liability issue you might want to check with your homeowners insurance company. You might be covered. But again that coverage might be voided if you take any money).

TheKillerPenguin 06-02-05 10:03 AM

That's crazy that you have to watch out for things like that. Getting sued because they couldn't keep their balance and hurt themselves :rolleyes:

2manybikes 06-02-05 12:26 PM

Quote:

Originally Posted by little5rider
I'm going on a three week trip in a few weeks, and the director (who I am good friends with) has asked me if I could rent my spare bike to another rider. I'm trying to figure out what would be a fair price to charge for the wear and tear from a fairly inexperienced rider over 1500 miles.

My guess is that the following parts will have enough wear to warrant replacement (or at least some compensation): chain, handlebar tape, brake pads, cables, and tires. I also want to figure in some general wear on everything else. The bike is an early-90's Cannondale 2.8 frame built up with mostly 105 components. I take very good care of it since normally it is my primary means of transportation.

I basically have no idea what a fair price would be. I would love some suggestions.

Did you already search the area for bike rental places to send him too? I would be worried about the liability more than the bike, it could be a lot more costly. Tell him that the liability insurance you need is too expensive.

dobber 06-02-05 12:37 PM

How about you ask your friend, the director, if he'll assume responsibility for any damages. And then lend it out, for free, as a favor to your friend.

operator 06-02-05 02:09 PM

Quote:

Originally Posted by dobber
How about you ask your friend, the director, if he'll assume responsibility for any damages. And then lend it out, for free, as a favor to your friend.

That's an even worse idea than before, just tell him to go to the bike store.

G-Unit 06-02-05 02:14 PM

A deposit for the value of the bike and $50 a day. Let them sign a contract stating that if it comes back with even a tiny scratch you keep the deposit. :)

AndrewP 06-02-05 02:19 PM

Sell him the bike and buy it back at the end. Price you pay depending on condition. Take lots of digital photos to cover paintwork condition, dents etc.

Bekologist 06-02-05 02:22 PM

Sell the guy the bike, with the understanding you can repurchase it at the end of the trip LESS the agreed upon W & T/ maintence fee.

If he really damages it, messes it up, you could refuse to buy it back.

Edited to say, I see someone else had the same idea at the same time.

G-Unit 06-02-05 02:40 PM

Tell him WalMart has bikes for $150.00

Jim Bonnet 06-02-05 02:42 PM

Save yourself and don't rent it.....

-jim

webist 06-02-05 03:50 PM

Set the rate 20% higher than charged for a comparable bike by the nearest source of rental equipment. Then point out that the rental is cheaper and no one at the store will be as emotionally attached to the rental as you are to your bike.

I'm assuming you are indeed inclined to rent it in the first place. If not, just say "No."


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