Labelled as the sharing economy, this new concept of sharing your belongings has recently taken root. Inspired from the likes of Airbnb, Fat Lama is a peer-to-peer lending-borrowing platform. According to Fat Lama, users are earning up to $12m (£8.9m) per month in rental income. So why not start renting your stuff out? How does it work? In three simple steps: 1. List an item on Fat Lama The most in-demand categories are Film & Photography and Audio Visual Equipment. Professional cameras, lenses and other recording equipment are the most successful, with some lenders recording a £4000 rental income. 2. Set a rental price, location and availability Initially start with a low rental price which will attract a large amount of customers, considering the current competition. Build your brand and customer base, then slowly increase your prices to maximise profitability. Secondly you should arrange the handover at a busy location for safety reasons, such as a tube statio...
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