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.

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.

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.

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.

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.

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

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

Koffee

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.

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

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

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.

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.

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

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).

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:

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.

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.

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. :)

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.

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.

Tell him WalMart has bikes for $150.00

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

-jim

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."

Most bike stores here in the city charge $30-35/DAY(!) for bike rental. Let's see, 3 weeks at that rate would be at least $630.....don't you have any beaters?

There is a Disney-like attitude that you never call the police on a guest, no matter what.

Have him sign something saying that he can use it free of charge while you're gone, but he'll pay for any necessary repairs that will be done due to his riding the bike. Before this, have the LBS provide a written statement signed by a well trusted mechanic stating the bike's condition. Make sure that when he returns it you take it to the same mechanic, have him check out the bike, tell you both what needs to be done (because of the riding) and have the "renter" pay for those repairs.

Don't be malicious about it, but just make sure the rider understands that you value this bike and want it treated kindly. If he/she does not understand this (or won't agree), point him/her to a local bike rental place to show that you do want this person to ride.

Waivers are useless paper that trial lawyers find quite amusing, make em' on soft paper so thay have a real use.

Do you own anything of value, have any assets? Want to keep it, don't loan anything to anybody and for sure don't rent it cause you could be held liable in an incident, loaning is safer.

I once had a rental bicycle business and I had a waiver, giggle...and I also had 2M in liability insurance per incident. It may not be enough today.

will never lend or rent my bike for nobody, not even my son can borrow my bike, that wouldbe thelast thing I will do....