What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
RelayRides Puts Your Car to Work
San Francisco-based start-up RelayRides has created a peer-to-peer car sharing marketplace that uses technology and a hefty insurance policy to make cooperative car sharing profitable for automobile owners.
RelayRides, which launched in 2010, invites car owners to share their vehicles with their “friends and neighbors” when they are not in use. Owners post their screened and equipped cars on the website and set their own hourly, daily and weekends rates, at a minimum of $5/hour. Screened borrowers can then search through for something that fits their schedule and preference.
RelayRides installs a device that allows them to unlock the car, immobilize the engine for anyone but the reservation holder, and track the car’s location. Owners sacrifice some freedom for the chance to make some bucks, as even they need to have a reservation in the RelayRides system to use the car. Like anyone else in the system, owners can always borrow someone else’s car if they are in a bind.
According to RelayRides, average owners make $200 to $300/month, with some outliers making up to $1000/month. RelayRides takes a 35 percent cut to cover their expenses and the owner pays for gas.
The company tries to address all major worries up front: they will insure your car up to $1 million to take care of borrower mishaps, they will fine those who make a mess or leave your lights on, and they screen driving records to make sure all RelayRides members are safe drivers (no more than two minor violations in the past year, and no major violations). They suggest, but do not require, that owners only offer cars that are a maximum of 10 years old and have less than 80,000 miles on them.
Currently only available in San Francisco and the Boston area, the company is hoping to expand throughout the country in 2012. This month, they announced a partnership with GM, who will make it easy for current GM owners to sync their cars with the RelayRide system.
For more information about carsharing, check out FutureofCarsharing’s infographic which, among other cool fact, shows that over 500,000 people participated in carsharing in 2010.
See other articles related to: car sharing, relayrides
This article originally published at https://dc.urbanturf.com/articles/blog/relayrides_puts_your_car_to_work/4474.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- The 4 Projects In The Works Near DC's Starburst Intersection
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro