Bike rental security deposit using PayPal

1

I’ve had a few guests ask me to borrow one of my bikes but as they are expensive bikes I always say no.

Thought I’d pick up an inexpensive bike for my guests to rent. I’m thinking $20 for their whole stay as I don’t host anyone for more than 7 days and most are 3 to 5 days.

We have a real bad bike theft problem here so I want to have them give me a $100 refundable security deposit which should encourage them to take care of the bike and use the lock that I provide.

For people not using cash, I can use my PayPal card reader and issue a refund at the end of their stay after the bike is returned.

Any thoughts of this before I look for a bike to buy?

2

Previous posts have mentioned possible liability issues with lending or renting out items like bikes or kayaks. If you think you will get more bookings by offering bike rental then it’s something to consider.

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3

Agree. I don’t think it’s worth it. One fall and you have a lawsuit. If you do it, get them to sign an equipment waiver. Do you have helmets? I even have guests sign a waiver for snorkel gear. But I think bikes are way more dangerous than snorkel gear.

4

My attorney told me absolutely not to do it. I refer guests to local businesses instead. No hassle.

5

Don’t travellers have travel insurance? We will offer bikes, boat and riding lessons, all with appropriate security gear.

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I hope you have cleared all with an attorney who has given you the go ahead. Travelers insurance doesn’t cover this stuff. That is for flight cancellations etc.

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@Liv No. Very few travelers bother with travel insurance.

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Ok, i don’t have an attorney… but there is no problem getting some legal advice concerning this. Will check out. I always have a travel insurance and that cover injuries and illness. Not extreme sports though. Normal biking, fisking from a small boat or riding inside an arena or a little trail are not considered extreme i believe. Well, better safe than sorry, will have a look into it.

9

Liv, I am sure 99.9% of my guests don’t buy travel insurance. I personally didn’t and I have a big trip to Europe next week!

Can’t count on the guest covering themselves. You need to cover yourself, that is a priority.

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10

Well, brave new world it is… i am used to taking responsibility of myself and a proper travel insurance is a natural part of that in my opinion. Then again i am not used to liability lawsuits for all there is. But will see into it! Not going to risk anything!

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I know, I know. I should get it. But last several trips have gone peachy so didn’t want to spend the extra $$… :smiley:

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If guests use the lock, is it still risky that someone will cut the lock and take off with the bike? If that’s the case, I can see many guests not feeling they are responsible. Of course if I borrowed my friend’s bike and it got stolen on my watch, I would still feel responsible even if I used a lock. But guests are like dealing with a differnent species. They will perceive the situation as they did what they were supposed to do. And the owner should eat the cost - well maybe not all guests…

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travel insurance covers the purchasers, not you. if there is a liability issue you may find yourself in a lawsuit - from the company that provided your renters their insurance.