Lenders are responsible for setting their own rental prices. If you're listing an item and you're not sure how to price it, you can:
- Use our price calculator to guide you towards a suitable daily price
- Check out what price similar items are renting for near you, and setting your price towards the lower end of that scale (borrowers often come to Fat Llama looking for below-market rates)
When you're setting prices, you have two options:
- Set a daily price and tick the Smart Pricing box.
The Smart Pricing algorithm will then suggest a weekly and monthly price.
- Set your own daily, weekly and monthly price
If you set your own daily, weekly and monthly price, the per-day price for borrowers will reduce incrementally for every additional rental day until, at 7 days, it hits your (lower) weekly price.
You'll be unable to set a weekly price that's higher than 7 x the daily price. If you offer a weekly price that's lower than 7 x the daily price, the per-day price for borrowers will reduce incrementally for every additional rental day.
Our research shows that lower weekly and monthly rates encourages longer rentals and, ultimately, a higher rental income.
Already listed an item? Tap below to edit your prices: