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Renting Items - Make money, Save Money, Be Green

Posted by The New N Used Link Team on Monday, May 13, 2013


In these tough economic times many people are looking for ways to shave expenses off their budgets. One tried-and-true method is to rent instead of buy. Environmentalists have long pointed out that we can also significantly reduce our impact on the planet if we borrow the things we only need occasionally.

Making new products takes a massive influx of energy and resources, from petroleum products to wood, rubber, metals, minerals and more. The fewer things we buy the less companies will make, and the more savings for all. Plus, buying less cuts packaging waste, a significant problem. Folks in cities are already used to sharing resources such as cars, washing machines and workout equipment, which is part of why urban areas tend to have lower carbon footprints than rural ones. But many of us can go further.

For example, many people find that they rarely use the expensive tools they got for Christmas, or that they bought to complete a single project. In fact, studies have shown that the average power tool is used for only about half an hour in its lifetime. Renting (or borrowing) that specialized tool when you need it can save you money, and free up space in your home or garage. 

There are many possible reasons for renting instead of buying, for example:

  • Financial inadequacy, such as renting a house when one is unable to buy it. One may not wish to pay the full price that ownership would need, allowing for smaller payments over a specified period of time.
  • Reducing financial risk due to depreciation and transaction costs, especially for real estate which might be needed only for a short amount of time.
  • When something is needed only temporarily, as in the case of a special tool, a truck or a skip.
  • When something is needed that may or may not be already owned but is not in proximity for use, such as renting an automobile or bicycle when away on a trip.
  • Needing a cheaper alternative to buying, such as renting a movie: a person is unwilling to pay the full price for a movie, so they rent it for a lesser price, but give up the chance to view it again later.
  • The renter may want to leave the burden of upkeep of the property (mowing the lawn, shoveling snow, etc.) to the owner or his agents.
  • There is no need to worry about lifespan and maintenance.
  • Renting keeps off-balance-sheet the debt that would burden the balance sheet of a company in case the property would have been bought.
  • Renting can be better for the environment if products are used more efficiently by sharing rather than being disposed of or overproduced


Ask yourself this...who doesn't have something they own that is under-used, or want the use of something but cannot justify the cost of buying their own or do not want to buy something as they do not have space to store it? We could make money from lots of things we own if we rented them out and at the same time do our bit to reduce our carbon footprint. Forget the money for the moment and just think about where everything you own comes from and how it gets to you. The likelihood is that it contains natural resources, has been manufactured by a process that emits harmful substances into the atmosphere and then gets to you via a chain of transportation methods that are also harmful to the air that we breathe. There are also items that we would like to use but cannot justify the cost of owning ourselves. To rent anything you want go here


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