Renters trust owners to take good care of their belongings, and owners trust renters to be careful with what they use. We do all we can to foster an environment of trust on our platform.
Owners can talk to potential renters or even meet them in person before letting them use their belongings. Borobear’s RM3k Owner Guarantee also protects owners for personal liability and property damage.
Owners receive guaranteed payments while their item is occupied, even if the renter stops paying.
Owners are paid out through Stripe, an online payment processor trusted by Google, Spotify, Target, and millions of other businesses.
Owners have to connect with Stripe once when they first receive payment. After that, payments are automatically deposited in their account.
Paul – DJI Osmo Pocket
No. Never accept cash from Renters, as this is against community rules to do so.
The Renter has already pre-paid when they booked. Therefore, you will receive your earnings directly from Borobear. The payout occurs on a day after the rental period ended.
For example, if you are renting out your item from Feb 16-21, you will receive payment from Borobear on Feb 22.
Yes. When we say we cover owners against non-return, we mean it.
As per our Terms of Service, renters who fail to return an item are liable to pay the full replacement cost of the item, regardless of the circumstances of the non-return. In the event that the renter is not cooperating and payment is delayed, a claim may be made on the Owner Guarantee.
Besides, if the renter runs away with your item, this is an outright case of theft, and we will assist the police in matters concerning the investigation.
We understand that your belongings are very important to you, and are therefore working towards better and better protection every day. Currently, your items are protected in the following ways:
To even reduce the chance of any unhappy experiences, make sure you vet the renter first!
Email: hello@borobear.com
Congratulations!
First, check that the dates the owner requested are alright with you. Check also the renter’s profile to ensure that s/he to ensure that she has a good track record.
Afterwards, click ACCEPT, and a chat room will be set up between you two!
As a rule, the renter should come pick up the item at a place convenient to you, rather than the other way round. Please remind the renter of this rule, in case s/he is new to the community!
Remember to pack all components of your item before meeting the renter! For example, adaptors, chargers, components.
Let us know you have any questions!
We recommend the daily rental fee to be 5% of your item’s original value.
For example, if your camera is worth RM3,000, then you may set the daily rental fee at RM150.
According to our Terms and Conditions, the renter needs to pay the doubled rental price for any days in excess of the agreed rental period.
In this case, the renter has the responsibility to pay the remainder amount when he or she returns the item to you.
We do our best to build a system where we attract the best renters for your items, but sometimes accidents do occur.
In case of damage to your items, please tap on “Contact Us” from inside the website, or write to contact@borobear.com, within 48 hours of your item’s return, and we will begin the Security Deposit claims procedure for you.
