FAQ

Most Asked Questions

Borobear pays out directly to you, the Item Owner, on a days after the rental period ended. This means that you do not (and should not) take any cash from the renter. For example, if you are renting out your item from Feb 16-21, you will receive payment from Borobear on Feb 22. You will be notified by email when your earnings have been deposited.

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:

  1. When you rent out something, we will collect a Security Deposit from renter on behalf of you, it will be equal to 20-50% of the item’s original value. The amount is up to you. Any damages to your items should be recompensed from this amount.
  2. According to the Terms of Use, renters are also liable to any damages in excess of the security deposit paid. If the item is returned to you in a damaged condition, the renter has the responsibility to recompense you for your loss.
  3. We are working on a damage coverage / insurance programme for eligible categories of items. We will let the Community know via email when this is in place!

To even reduce the chance of any unhappy experiences, make sure you vet the renter first!    

Email: hello@borobear.com

General

Items-sharing is a new form of consumption, where we borrow each other’s belongings, rather than buy from stores. By sharing with neighbors, rather than buy from stores, you can expect to save up to RM3,000 a month in avoided purchases, giving you more freedom to enjoy life to the fullest.
 

1. Contribute items:

If you have a PlayStation at home which you don’t use often, you can list it on your Neighborhood Page, so that others can borrow it when they need it (e.g. RM50 a day).
 

2. Borrow items:

And if you need something – for example, a set of camping equipment to go camping – you can borrow it from neighbors at a fraction of the price of buying (e.g. RM100 for a weekend) and return everything after use.  Welcome to the Revolution![/vc_toggle][vc_toggle title=”How does Borobear work?” el_id=”1457563269545-df1d9b94-9d5e”]Borobear is the platform that lets you to rent out your belongings to someone nearby. We connect people who need things, with others in their neighborhood that have it to borrow.

We believe borrow stuffs from people nearby should be fast & easy. We are building a community to make everyone to share their belongings with people nearby. Every needs can be fulfilled by others within minutes. 

For renters:

  1. Register as a member in website;
  2. Browse from what your neighbors have already posted;
  3. Make a request for the item you want
  4. Once the owner accepts, a chat will be set up, and the two of you can arrange a pick-up!

For owners:

  1. Register as a member in website;
  2. Snap a picture of the item you would like to rent out, and it’ll get posted on our platform!
  3. Once you accept a request, a chat will be set up. All payments are done electronically, so you will not have to worry about that when you meet!

Important: According to our community rules, the renter should pick up the item from the Owner. The Owner has no obligation to deliver the item to the renter.

Borobear is absolutely free to register for.

For each successful transaction, Borobear will ask for a service fee to pay for the matching services, around-the-clock customer service. This also helps us improve our product and bring it to more cities around the world!

Fee structure.

  • 15% of each transaction charged to the Renter (Currently Free of Charge, until new announcement made)
  • 15% of each transaction charged to the Owner, automatically deducted from payout amount.

Thank you for supporting our work!

Email: hello@borobear.com

First, transacting through Borobear helps ensure that you’re protected under cancellation, refund policies and our Terms of Service. And if you pay and communicate outside Borobear, it would be difficult to protect your information and puts you at risk of fraud and other security issues.

Second, renting high-quality items on Borobear often involves high amount of Security Deposit. There are possibilities of lost or theft if transacting outside Borobear.

 

Email: hello@borobear.com

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:

  1. When you rent out something, we will collect a Security Deposit from renter on behalf of you, it will be equal to 20-50% of the item’s original value. The amount is up to you. Any damages to your items should be recompensed from this amount.
  2. According to the Terms of Use, renters are also liable to any damages in excess of the security deposit paid. If the item is returned to you in a damaged condition, the renter has the responsibility to recompense you for your loss.
  3. We are working on a damage coverage / insurance programme for eligible categories of items. We will let the Community know via email when this is in place!

To even reduce the chance of any unhappy experiences, make sure you vet the renter first!    

Email: hello@borobear.com

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 user runs away with your item, this is an outright case of theft, and we will assist the police in matters concerning the investigation.

The Basics

Borobear is the platform that lets you to rent out your belongings to someone nearby. We connect people who need things, with others in their neighborhood that have it to borrow.

 

We believe borrow stuffs from people nearby should be fast & easy. We are building a community to make everyone to share their belongings with people nearby. Every needs can be fulfilled by others within minutes.

 

Borobear is here to make your borrowing and lending experience smooth. Welcome!

We recommend that owners set the daily rental price to be 5% of the item value.

On Borobear, the general rule is that renters should come and pick up the item from the Owner.

 

Where this is not feasible — for example, when the renter is from a different neighborhood — then Owners can specify a place that is convenient to them, such as a nearby subway station after work, or even a place that the owners pass by every week.

 

We encourage in-person meet-ups as much as possible, so that both sides have the chance to verify the item on the spot.

When making a reservation, the renter provides their payment details to Borobear. A charge is made when Owners accept the reservation.

The Owner receives the money within 1-2 business days of the rental end date, via the payout method that they provided.

Payment and other sensitive information are never passed to the other parties. By-passing the platform for payments is not allowed, and is also unsafe and a sign of fraud. Please report such attempts and cases to us.

After the owner accepted the reservation, we will collect and hold Security Deposit from renter on behalf of owner. This amount is usually in the range of 20%- 50% of the item value, and is set by the Owner.

If renters accidentally damage the item, owners can file a security deposit claim with Borobear. After both Owner and renter agree on a compensation amount, Borobear will help the owner deduct and transfer over the amount from the security deposit.

In extreme cases where the borrower is unable to pay, Borobear has an owner guarantee of RM3,000 per item, making sure that owners are justly compensated.

For Renters

You’re almost there! We notify owners immediately of the incoming request. At times it may take a few hours for the Owner to reply, as he or she may be at work, or out of town. Owners are notified both through email. We will also follow up with any owner who has not responded for some time.

 

Once the owner ACCEPTS,  a chatroom will be set up between you and the owner. A charge will be created for the transaction, which you can cancel in case the transaction doesn’t work out – up to 24 hours before pick-up date.

 

ON THE DAY

Be on time! And since you’ve already paid through e-payment, so no need for cash. Just bring your best smile for the meetup!

 

Be sure to double-check that the item is the one requested. If there is anything wrong with the item, be sure to let us know within 24 hours, before we pay out to the Owner.  The Security Deposit will be released 2 working days after the return of item. Enjoy the item!

Throughout the process, Borobear helps you follow up with the owner – through email and phone (where the Owner has left a number). In cases where the owner cannot be reached, we will notify you and advise that you request an alternative item from our platform.

The Borobear e-payment system is powered by Paypal. This means that your credit card details do not ever pass through our servers and that we do not ever have access to your credit card details. The process works as follows:

  1. The Renter paid for the rental and security deposit when the reservation is accepted from owner;
  2. The Owner will be paid 1 working days after the item-return date.

Security Deposits will be released 2 working days after the item’s return.

Make sure you pack all components, and return the item as you found it. If any cleaning is involved, especially kitchen appliances, please make sure this is completed, as agreed.

 

When you return the item, the owner checks that the item is in order, and will give the security deposit back to you (but not the rental fee, of course!)

 

The owner will also mark the transaction as completed, and will submit a short review for you, so that in future it will be easier for you to request items from other people. Each positive review goes a long way, so make sure you return the item in tip-top condition!

 

Congratulations, you’ve just made your first Borobear transaction!

For Owners

Easy!

  1. Press my account on top right corner.
  2. Tap on the “Add New Listing” button to add your items (unlimited)

That’s it! Your listings will be deployed and visible across the community within a second.

(Please note that we reserve the right to hide any items which violate our community rules – such as weapons, drugs, and pets.)

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!  

 

ON THE DAY

Remember to pack all components of your item before meeting the renter! For example, adaptors, chargers, components.

Let us know you have any questions!

When you accept an Item Request, you will be invited to enter your ATM deposit account number. This for depositing money only, and we will never share any personal data with third parties. You will receive payment 1 day after item-return.

 

E.g.

If the reservation is Dec 10 to Dec 17, you will receive payment on Dec 18.

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.

Payments

Borobear currently accepts Visa, Mastercard, and Amex. All transactions are handled by Paypal, a (highest level) payments gateway.

 

This means that your debit/credit card information never pass through our servers, and are not stored anywhere on Borobear, assuring that, even in the case of a security breach, your debit/credit card details remain safe.

A payout is when an Owner gets paid for renting out the item to a Renter. Owners get paid by direct deposit to their bank account 1 day after the item return date.

Borobear’s payment system is designed so that renters and owners can have an easy and reliable way of renting and returning items from each other. Here’s how it works:

  1. Renters pay Borobear when they reserve an item
  2. Borobear releases the money to the Owner the day after Renter return the item  

When renting an item, the security deposit amount (pre-determined by the Owner and made clear in the item details) will be charged on rental invoice when the reservation is accepted from owner.

 

Owners have 48 hours after the item return date to file a security deposit claim, after which the security deposit hold will expire.

 

Going through our system helps gives you a safe, secure, and convenient rentals experience.

Monies are charged to the Renter when Owners accept their request and will be released to the Owner 1 day after the item return.

 

For example, if the renting period for an item is May 20 – May 24 , the Owner will get paid on May 25.

To protect both owners and renters, Borobear has a 24-hour cancellation policy.

 

Up to 24 hours before pick-up date: Renters can cancel the transaction, and the rental fee will be refunded to the renter. (Note: Service fees will not be refunded in such cancellation cases.)

 

Less than 24 hours before pick-up date: Renters cannot be refunded, out of respect for the Owner, unless there are special circumstances, such as  poor weather conditions for outdoor-related items. Renters must seek permission from the owner, and contact Borobear to apply for the refund.  

 

Owners can cancel transactions at any time before item pick-up, such as if an item malfunctions at the last minute,  but will be blacklisted if s/he continues to do so for multiple transactions.

Renting high-quality items on Borobear often involves a Security Deposit. To prevent situations like cash lost or theft, Borobear’s payment system adopts the deposit method: the deposit amount will be charged on rental invoice; and released back when item is safely returned.

About the Meetup

Because Borobear is a location-based rentals platform, you can easily find the items closest to you. Common places for neighbors to meet include:

  • At the Owner’s door, if both parties live in the same building;
  • Podium of the same housing estate;
  • MTR stations, in case both parties live far apart but use the same MTR station to commute to work.
  • Near workplace over lunch, in cases where both parties live far apart, but work in the same business district.

As a general rule, Renters should pick up the item from the Owner – the Owner should never feel obligated to deliver the item to the Renter, unless specific arrangements are made. It is perfectly fine for work colleagues or family members to assist in the pick-up and return – in fact, it’s often a fun way to engage them!

All rental payments and security deposits are handled electronically. There is therefore no need to bring cash to your meetup.

The rental fee is charged from the Renter’s payment account before the transaction (when the Owner first accepts the request), and gets paid to the Owner the day after the rental end date. More specifically:

 

For Renter:

• When you book, you will be asked to provide payment details (only if this is your first time)

• A charge will be made if the owner accepts

• If you cancel 24 hours before the rental start date, a full refund including fees will be issued

 

For Owner:

• When you accept, you will be asked to provide a payout channel (such as PayPal or bank transfer)

• The rental fee will be paid to you one day after the item return. 

 

Security Deposits:

• The Security Deposit requested by the Owner will be charged on the Renter’s payment bill when the reservation is accepted from owner . The deposit will automatically return to renter in 2 working days after the item gets returned. This is so that the Owner has time to verify that the returned item is in expected condition.

Security deposits are a basic protection for item owners against damage – and in extremely rare cases, theft – of their items.

 

Owners are encouraged to request a security deposit when they offer to rent out an item. This amount will be charged on the Renter’s payment bill before the duration of the rental, and will be released 2 working days after the return date of the item.

 

In the rare case of damage to the item, for whatever reason, Owners have 48 hours after the return date of the item to write to Borobear to apply for a security deposit claim. Both sides will need to agree on the charge before it will be made.

Extensions must be mutually agreed between Owner and Renter. In order for both parties to be protected under the Borobear system, we strongly recommend all extensions to be made through the platform. There are two ways:

1) Make a separate rental request for the same item for the additional days in question;

 

2) Contact Borobear Support (in “Contact Us” inside the website) to extend in the system.

Normally, the price per extra day is the same as the daily rental fee for that item if the owner is agree for the rental extension.

When you rent out an item on Borobear, you must ensure that the item is as stated, including all accessories. For example, if you said you are providing a charger to your camera, you must also pass this to the renter.

 

Before you meet up with the Renter, please remember to check that you have packed everything.

First of all, there is no need to bring cash to the meetup (see separate FAQ on this)

 

Second, when you pick up the item from the Owner, please check that the Owner has provided all accessories, such as chargers, tripods, and controllers, that are included in the rental package. Please check the device with the Owner to pick out any scratches or visible damage to the item, so that it is made clear that you are not responsible for it.

 

If the item can only be tested at home, such as a VR device, please ensure to report any faults to the Owner immediately.

Signing Up and Logging In

Not to worry! Simply click the “Forget Password?” button in the Log In screen, and we will send you a Password Reset email.

Absolutely! We do not charge membership fees, hence it is perfectly alright to share one log-in account across family members.

Item Condition

If such a case happens, please contact the owner directly. He or she has the responsibility to ensure that the item is rented to accurate to the details provided.

 

To avoid this happening, please check that the item is the one requested, and let the Owner know any irregularities as soon as possible.

If this is the case, contact the owner immediately. The owner has the responsibility to provide the rental item to you in the indicated condition.

 

If the item is indeed faulty, you are entitled to a full refund from the owner of rental fees. If however, the item is damaged as a result of improper use on your part, then you have the responsibility to reimburse the owner for any losses incurred.

 

Please reach out to our Team at contact@borobear.com should you have issues with contacting the owner.

Yes, certainly! You are entitled to a full refund if the item was not the one promised to you, or that it was provided to you in an unusable condition.

 

In all cases, when you pick up the item from the Owner, please check that it is fully functional as much as possible. Please contact our Team if you need assistance.

Prohibited Items

According to our Terms and Conditions, the following items are not allowed on Borobear:

 

Counterfeit items, infringing/unauthorized copies/items, alcohol and wine, animals and wildlife products, credit cards, calling cards, coupons, drug or drug-like substances, prescription drugs, personal hygiene/care products and food, obscene/indecent articles including those violent material, firearms, weapons and knives, and tobacco.

 

We also do not support humans (in the form of services, such as housecleaning, language learning, guitar playing etc.). Please reach out to us if you would really like to start a Service Group on this front!

Buying and selling is against the Terms and Conditions of Borobear. While this is common in other online platforms (such as eBay), we do not support such transactions.

 

The main reason is that we wish to push consumers to rethink their consumption habits: is it really necessary to buy that camera, or that overcoat, when you will likely use it only once or twice?

 

Rent, rather than buy, is the future, and we are actively seeking to push the evolution of consumer behavior towards that direction.

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