❓ What is Keyf.in?
⚡ The Purpose
Keyf.in is a peer-to-peer rental platform. It aims to connect item owners and customers by providing a secure and straightforward way of handling transactions. Customers can list items on the site and earn money by completing contracts.
Customers can list their items (i.e. bikes, electronics) in order to lease them out to other users. Platform users can rent a item by paying a deposit and the rental fee. The pickup and return are handled between the users while the platform facilitates the contract and the transaction of funds.
🤷 The Problem
One of the pitfalls of consumerism is buying more than what we need. Many of us own things that are not put to use most of the time. Every household is full of various items sitting on a shelf collecting dust and not being utilized by their owners. Such belongings are a source of wasted money and damage to the environment.
Consider the power tools, electronics, vehicles, and musical instruments that are bought only to be used a few times and left in the dark. It is fairly common for households to have a garage to store all unused belongings.
💡 The Solution
What if there was a platform where users could list out their belongings for rental? The same users could also browse for items on the platform and book them for periods of time that they determine. This way owners can make money from the possessions that they don’t actively use and renters would save money and space by only using the items for a limited time.
Keyf.in mediates the lifecycle of the rental period. The lifecycle includes:
- Users list the items they own
- Customers browse the market for goods
- The booking arrangement between the item owner and customer
- ID verifications of the relevant parties
- Signing a contract that defines the rental period
- Verifying the transaction among the parties
- Transfer of the funds that include deposits, expenses, and the rent
Having a platform in between forms a trust bond between the involved parties. Keyf.in helps by verifying the identity of users and managing the means of transaction between the owner and renter.
🧑💻 The Product
The platform provides a marketplace that manages the booking and transaction of the items that are listed. Users can list their belongings or rent out items listed on the marketplace.
Customers can request a rental period from the owners by booking directly on the platform. The owners can then respond and organize a pickup/dropoff date. Once the terms are settled by both sides, a contract is generated by the platform that both parties have to agree on.
During the pickup and return of the item, the parties have to verify the transaction using the codes provided by the platform. Once the transaction has been confirmed, the platform manages the transfer of the funds.
Disputes are handled between the item owner and the renter. Optionally an insurance company can also be employed in case of item theft or damage. The platform serves as a marketplace for items and coordinates funds.
🛍️ The Customer
Keyf.in aims to serve households that have an abundance of belongings that serve no little to no purpose and consumers that don’t want to spend money on things that they’re rarely going to use.
Another aspect that is enticing for the customers is the ability to try out products before buying them. Temporarily owning an item instead of trying it out in a store gives a better end-user experience, no matter the product.