Shared Economy Start-up Uses AI-based Compatibility Testing for Online Rental Marketplace

Rentus.com

Rentus.com is an online marketplace where you can make money by renting stuff you already own.

 

Seeking the next big idea in the “shared economy” pioneered by Uber and Airbnb – while also incorporating compatibility matching capabilities of dating and social media sites – an AI newbie has put forth an online business model based on renting items many of us own – party supplies, power tools, wheelchairs, lawn equipment, video gear – to those who’d rather rent than buy.

It’s been observed that a power drill, to take a common example, is only used by its owner for 12 minutes per year. So it makes eminent sense to rent a drill for a few dollars rather than buying one, right? Actually, maybe not. While a rental marketplace seems like an obvious business model, getting it to work in the real world has been another matter. For one thing, if renting a drill involves traveling any significant distance then many people would just as soon buy one and be done with it. For another, if the owner and renter don’t get along it lessens the chances that either one will become return customers.

Rntus.com is attempting to overcome these challenges by developing a data-driven infrastructure that combines AWS’s auto-scaling compute and storage infrastructure with a home-grown, inference-based AI capability that makes using the site seem like signing up for Match.com or eHarmony. The idea, according to founder and CEO Elias Chavando, is to avoid the fraction-of-a-penny-per-query that Rntus.com would otherwise pay AWS for AI functionality, charges that would add up quickly when the start-up processes the hundreds of thousands of queries per hour it expects – and hopes – come its way.

Read more: http://www.enterprisetech.com/2017/01/12/shared-economy-start-uses-ai-based-compatibility-testing-online-rental-marketplace/

Make Money Renting Out Your “Stuff”

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Tech start-up Rentus.com has launched a website and mobile app that helps individuals make money by renting out things they already own. Founded by marketing and tech guru Elias Chavando, the new website makes it easy to rent just about anything. Owners of tools and equipment, party supplies, photo and video gear, medical equipment and sporting goods, can list items to rent out. Those in need of these things, can quickly rent and use them.

“Those holiday presents that would otherwise stay in your closet can be put to work for you,” says CEO Chavando.  Rentus provides a simple way for a household, college student, and anyone to make extra income.  For the power tool or the snow blower sitting in your garage that gets no use, Rentus gives you a way to put all that ‘stuff’ lying around to use, and puts some cash in your pocket as well.”

Rentus allows users to list an unlimited number of items for free and takes care of processing security deposits and rental and delivery fees. As soon as the renter returns the item, payment is transferred to the owner. Rentus earns a success fee to cover credit card costs and other expenses.

“It’s like eBay… but instead of buying, you simply rent for a day, a week, a month,” says Chavando.  “If you need to complete a project, need items for your vacation, or are in the mood to try a new hobby without spending money to buy stuff, this is the answer.”

“Whether you are the owner making money or the renter who saves money, Rentus can work for anyone.”

Prior to starting the online and mobile rental marketplace Rentus.com, Chavando served as director of the largest automotive marketplace and consulted for several multi-national classified marketplaces and companies, sports teams and associations. He also created a system that matches business partners based on a tested number of identifying factors. This system is used in matching Owners with Renters in Rentus’ person-to-person renting.

Rentus is available in Southern California and will be expanding to other markets in the United States and Europe.

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