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how can i rent out my furniture (sofa, tv, etc.) to another college student?
I'm a college student myself, and my apt. is furnished next year so i have a bunch of extra stuff, like a tv and a leather sofa with recliners...
So like how would i rent it out? once i find someone, how do i know they won't steal it after i rent it out to them? like i need to have a security you know? like whats the paper work? i need something that'll have the furniture/tv binded to me as the owner, not them you know?
if its a friend i know, then its no big deal, but im talking about for another random person.
Write up a simple contract. I've seen all purpose ones sold in office supply stores but you can find even more things online. Many are free but remember often that you get what you pay for. Having said that and having been a college student I should advise you that renting furniture to college students isn't normally done (outside of rent to own stores who charge huge rates and have solid contracts where they can collect once the renter defaults) for a reason. College students are rough on things. You're a college student so you know what I mean. When you write up the contract you might as well spell out the terms to which they effectively buy the items because they've damaged them too much for you to want them back. I think this is an area you should concentrate on heavily because it's very likely you'd be exercising it so you also need to be prepared to not get or want these items back. It's just a fact of life.
I wouldn't risk it. I'd put the stuff in storage or sell the few things you don't care to tote around for another year cheaply on craigslist and turn it into quick cash without liability. Later in life when you've graduated and moved into your first house you'll want to buy nicer things anyway.
Source(s):3 years ago
You can write up a simple contract that identifies the items being rented, the duration of the rental and the amount being charged. You need to hold a cash deposit large enough to cover the cost (used) of the items being rented. The contract should note you will with hold the repair cost of any item returned in a damaged manner and/or will return the entire deposit upon return of the undamaged property. Good Luckby Bill - 3 years ago
It is all in how you write a contract. There are these people who go to school 3 extra years and get paid a lot of money that write them all the time, you might need to call one to have them write it for you.
If you aren't going to be present you should require a generous security deposit, but it is ridiculous to make it for the replacement cost of your entire place and more apt to make it for a less than half of it actual present (used) value. If you make it for too much you will likely not get any takers. If you plan to be one of the roommates it is ridiculous to require any extra deposit unless you want your renter to make you put up a deposit on his stuff. Good Luck