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What is Fat Llama?
Fatllama.com is a peer-to-peer rental platform that allows people to monetize their existing possessions by renting them to nearby people (fully insured).
The platform is designed to work for the mutual benefit of both the borrower and the lender. While it allows the lender to convert their unused items into profits, it also saves borrowers money by avoiding unnecessary purchases.
There is no limit to the number of things you can find on the platform, from everyday items like a drill or bike to more expensive bit kits like DSLR cameras and DJ decks.
How does Fat Llama work?
The good thing about Fat Llama is that it works for the mutual benefit of both borrowers and lenders. Borrowers can get the items they need from people close to them for a fraction of the price of buying new ones while lenders can monetize their actual possession by renting them (fully insured) to people nearby.
It’s easy to use, lenders need to create an account, and then they can list as many items as they want. In turn, borrowers only need to search the platform for the thing they need, and the location then requests to rent it directly to the lender (the first time they will have to go through Fat Llama’s security checks before this request is passed on).
What are the requirements to sign up to list for Fat Llama?
It is quite a simple process. Just create the list, set your price, approve incoming rental requests, arrange meeting/pick-up times, and receive payment through the site’s built-in secure payment system.
How do you earn money on Fat Llama?
As a lender, you just need to register on the platform, and then you’re free to list as many stuff as you like on the platform for free. It will not ask you for anything else until you make your first rental when you are asked to send your identification and bank details so that the platform can pay you directly.
How much money can you make on Fat Llama?
Some lenders on the platform are doing so well that they earn up to $10,000 a month renting items like movie equipment and bikes.
Pros of listing on Fat Llama
- A point in Fat Lama’s favor, over sites like eBay or Etsy, is that renting an item (instead of selling it) can earn you several times.
- You can feel completely safe: all users are verified, and there is a guarantee that protects your belongings for up to Â£25,000 (or Â£50,000 for motorhomes).
- There is no cost to list it on the site. Even if it doesn’t rent, there isn’t any risk involved, so you might as well list it, right?
- Almost everything you can think of that can be rented for money can be found at Fat Llama, such as Cameras, drones, projectors, audio equipment, etc.
- You can accept or reject rental requests at will.
- You don’t have to wait too long to get paid – your payments are made available to you within three business days of the start of the rental.
Cons of listing on Fat Llama
- This is great if you are based centrally, but supply can be problematic if you are living out in the sticks.
- They need more borrowers, but we know they are working on it.
How do I sign up to list on Fat Llama?
You can register using Facebook, Gmail, or email.
What is the website for Fat Llama?
Does Fat Llama have an app?
They have an Android app on the Google Play store. It’s only 3.5 stars, but there are some pretty good reviews, and it looks like the app is pretty useful, despite a few bugs.
Fat Llama is an excellent way to generate income with your kind of stuff. By individuals to unlock the earning potential of things they already own, Fat Llama enables you to generate income without having to commit to any capital output. The only downside is that supply is limited depending on your location, but as the user base grows, this app will surely shine.
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