Renting Appliances

[Martin]

We’ve heard the for’s and against on SELLING appliances, but how viable is the RENTAL market these days?

Who rents washing machines amongst us? I see Forbes Direct only rent out Bosch machines (very wise) 😆

http://www.forbesdirect.tv/product_search_homecare.asp

Martin

[tonyclifton]

Re: Renting Appliances

I started renting machines out bout 3 months ago both new and used its a steady income.so far have put out only 183 appliances so far on 60 {e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} new 40{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} used,they seems to be a call for it in this area, so hopefully be able to replace all to new and make a nice side earner. 8)

[Dave_Conway]

Re: Renting Appliances

183 appliances rented in 3 months 😯

Please tell us your secret Tony, that is an astonishing number to shift in that time scale, even to the rental market.

One thing I found out when looking in to this, if you rent an appliance, it has absolutley no manufacturers warranty on it at all, the retailer bears the brunt.

Dave.

[tonyclifton]

Re: Renting Appliances

No secret i just adveristed 1st ad i place put rent a washer from £10 a month got 5 calls re-worded it to rent a washer from £2:50 a week now get 20 calls a day customers must be dumb or just us norfolk people 8) as it adds up to same,hit all landlords and estate agents plus mailed shot 20 thousand homes in 50 mile radius, i dont do any credit checks so helps people on low income but they only get second hand one to make sure they pay.so far no problems but will let u know..

[RS]

Re: Renting Appliances

Interesting thread Tony

I used to do this myself, along with repairs on tick but I found it a lot of hassle when things went wrong, I couldn’t be everywhere at once trying to fit repairs and collecting into the day was neigh on impossible but then I am a lone trader.

I found the interest was there, as people round here are always skint and would gladly pay over the odds for a job on credit or if the machine was BER were interested in renting, it’s the no repair bills that swings it but as I said I worked alone and there was just not enough time in the day to do everything that needed doing.

As a matter of interest Tony how much is the credit licence these days?

Richard S

[tonyclifton]

Re: Renting Appliances

oh dear didnt know needed credit licence 😳
have to find out bout this and were to get one

[RS]

Re: Renting Appliances

Hi Tony

better get o move on if owt goes wrong you you could be in the smelly stuff, to give you an idea I got a licence for credit sales, rentals and loans and if I remember corectly it cost me £110 but that was about 20 years ago

Richard S

[Fly-on-the-wall]

Re: Renting Appliances

Hi folks

Were just too british!!
Yes a credit licence would be required at a cost of £110 for 5 Yrs and can be obtained from the office of fair trading .
I hope it works out with the rentals as we are all looking for new areas to earn in.

[Dave_Conway]

Re: Renting Appliances

It’s still £110 now for a sole trader.

All the info is here at the OFT website:

http://www.oft.gov.uk/Business/Legal+Po … A+applying

Dave.

[RS]

Re: Renting Appliances

Hey this seems unfair it cost me that all those years ago 😥

Richard S

[tonyclifton]

Re: Renting Appliances

Thanx for that just sent cheque off for one. must sack accountant as asked him and said wouldnt need one for renting as payments are only done by standing order 😕

[Dave_Conway]

Re: Renting Appliances

tonyclifton wrote:must sack accountant

Yep. 😆

[RS]

Re: Renting Appliances

Just a thought Tony.

When I got my licence they had got it wrong and I was only covered for consumer credit, don’t know if they have changed it but check you are covered consumer hire.

Richard S

[philfish]

Re: Renting Appliances

sounds to good to be true what about deposits,people who dont pay,run off with your machine etc and do you do other things like cookers, fridges etc seems a good idea and one worth loking into but sounds like could be a bit dodgy has well good luck anyway 😉

[tonyclifton]

Re: Renting Appliances

ok tell you how i do it i buy hotpoint wm raw machines for six quid each throw in new bearings, brushes, usual stuff check it through safety test them. then custmors must pay min £45 depoist month up front admin fees etc they then pay by standing order into my account,if they miss one payment we go round a collect the machine. get them to sign a rental contract 5 pages,that one day i mite get round to reading myself,(Lawyer wrote it).as for other items in last 2 weeks been asked for cookers so only put 3 out to see if this works refrigeration still thinkin on that one, so far seems no problems but it early days.

[Author]

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