Put Your Car to Work for You

Why let your car sit idle in your driveway when it could be out earning you cold, hard cash? That's the idea behind Boston startup company Relay Rides, a unique peer-to-peer car rental agency.

The company has just gotten funding to run a pilot program in Baltimore, which will connect car owners with car renters. The idea differs from typical urban-rental programs in that Relay Rides neither owns nor maintains a fleet of cars. They're all privately owned, with the rental price and duration set wholly by the owner.

The company provides specialty insurance covering both owner and renter during the course of the contract, and also installs a special keyless entry so that owners simply assign a time and place for car pickup, without having to interact with the renter.

They claim that renting out your car for just 10 hours per week can net you anywhere from $1,350-$4,000 annually, depending on the quality of your ride. Sound intriguing? Sign up to find out when they're launching in your city.

Add Your Comments

Please keep your comments relevant to this blog entry.Email addresses are never displayed, but they are required to confirm your comments. When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL(including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted - no need to use <p> or <br> tags.

AOL RealEstate on Facebook