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Renting Your BIKE?

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Ok here I got one for you! An add popped up on my Facebook feed for bike rental.... aka "Bike Sharing", https://www.riders-share.com/ . I have never seen any add worth pursuing from Facebook before, but this one took my attention. 

So I signed up and started asking questions (i dont have to go live with the add until im ready), and reading into it. So far there are 2 other Bikes in this part of Ohio on there. Insurance? Well it sounds like the renter is covered up to $15K and the deductible is $2k, and the renter is given the option to "buy extra insurance" which is basically lowing the cost of that deductible for them. I messaged them about this, and if there was a claim, Riders-share, would handle the deducible to the insurance company and the "bike owner" would only need to file the claim. Its all handled through Riders-Shares insurance policy.  

As far as letting someone else ride my bike? IDK, its the liability thing that has me second guessing this thing. If someone wraps it around a tree, can they point a finger at me because say.... "chain was loose". It states in the fine print, I would have the right of turning away anyone I felt wouldn't be safe, or I dont think could handle the bike. 

To me, I was thinking of trading this bike I currently ride in on a new one, Its a GSX650F. But really, it would make a decent rental. Its got new tires, and is very reliable, looks fast, but not GSXR fast, and is actually quite comfortable. Its really not worth all that much and if I could make a few hundo on it a year, it would enjoy keeping it around. 

Whats your take on this "Bike sharing". Its much like Turo for cars. 

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Forgot to mention what your making on this. If you sign up, you will see for yourself. The Owner makes 70% of the rental fee. So the if I set my bike at $100/day, I would make $70, they recommended discounts for multi days. AND you can rent out gear also. I see the befit of have some old Helmets around for an extra $5 Bucks. 

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NOT IN A MILLION FUCKING YEARS! There are very few people I would ever let ride my machines. And of those people I trust if they fuck it up would make it right.

So Nope ,NOPE and FUCK NOPE! 

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I am with you. The idea of somebody I don't know on my ride makes me cringe. One of my coworkers just decided one day to throw a leg over it without asking and I absolutely cringed

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Didn't someone here near Cinci lend their bike to brand new posting foreigner?

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5 hours ago, motocat12 said:

Didn't someone here near Cinci lend their bike to brand new posting foreigner?

Yup.  That was me.  Guy was legit and a decent rider.  I took him out and led him on a two hour loop into NKY before I let him ride out alone for his "walk-about" for a couple of days.  I also sat at the computer with him and used Googlemap to review some of the roads I reco'd based on the general direction he wanted to wander.  He road west along the river into IN, stopped for a beer and burger in Rising Sun, road some of the goat paths that run up and down the hills overlooking the river, crossed into KY either at the dam or at Madison, then spent the night at a little local mom-n-pop motel before heading back east.  He even stopped and hit up a few yard sales in rural towns.  He had a ball and it turned out fine and I still chat with him occasionally on FB.  I would certainly do it again if I was comfortable with the rider's skills.

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On a bike I give a shit about? Nope. But, you're about to trade it in for a new one anyways... Why not rent it instead? Make some money off it instead of being give half it's value at trade in. 

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Here's the original thread:  

 

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13 hours ago, Bubba said:

Yup.  That was me.  Guy was legit and a decent rider.  I took him out and led him on a two hour loop into NKY before I let him ride out alone for his "walk-about" for a couple of days.  I also sat at the computer with him and used Googlemap to review some of the roads I reco'd based on the general direction he wanted to wander.  He road west along the river into IN, stopped for a beer and burger in Rising Sun, road some of the goat paths that run up and down the hills overlooking the river, crossed into KY either at the dam or at Madison, then spent the night at a little local mom-n-pop motel before heading back east.  He even stopped and hit up a few yard sales in rural towns.  He had a ball and it turned out fine and I still chat with him occasionally on FB.  I would certainly do it again if I was comfortable with the rider's skills.

You have much bigger balls than me sir.  Not in a million years.

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4 hours ago, Wojo72 said:

You have much bigger balls than me sir.  Not in a million years.

Meh.  Would not have been a catastrophe unless he did some irreparable damage to himself, and I did take that into consideration....which was why I vetted him as much as I could before I turned him loose.  As long as I wasn't renting the bike to him, it's no different than lending a friend your MC--covered by your insurance for theft/comp and liability.  Worst case for me was that it came back a total loss, and I could have eaten the $3500 bill without making the children do without milk....it's not like a 7-8 year old Suzuki Vstrom is irreplaceable.

Edited by Bubba

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No. Liability for a mechanical failure either real or imagined that causes a crash is too high. Even if it is meritless you still get screwed. Plus all the income tax issues and potential asshats.

Bubba's deal was rare, and he was pretty well vetted ahead of time.

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Yep, we know it can work, buuuut.  In the words of the tall guy, No. Fucking. Way. 

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On 3/8/2019 at 2:31 PM, 2talltim said:

NOT IN A MILLION FUCKING YEARS! There are very few people I would ever let ride my machines. And of those people I trust if they fuck it up would make it right.

So Nope ,NOPE and FUCK NOPE! 

I 2nd this. If someone had ever rode one of my bikes, it is because I trust them 100%. Cant do that with strangers.

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Thanks for the input... So far I have not officially "listed" the bike. The liability part really puts it off. 

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For the price of tires and maintenance + wear & tear, how much profit are you actually making?

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So my question is, does this service offer insurance to the Owner? I saw where you asked them about Renter's coverage, but Toro for cars  offers Owner's insurance with $1M in liability coverage. If this place has a similar policy, then sure, why not. If they don't then you will need to look at a commercial insurance policy for your bike which can get prohibitively expensive. $1m in liability would cover you if the renter gets hurt on your bike and wants to sue you. But keep in mind they can't just sue you for a traffic accident they caused or were the victim of. It would have to be because of something you did (like modify the bike in a manner inconsistent with DOT laws and that caused the accident). You are still required to keep up on the maintenance, and in some cases I would be extra cautious about documenting that that was done by having the bike serviced by a shop and documenting the tire age and wear. 

Personally it sounds like fun. I'll be honest, I have had the fortune and great luck to have near strangers let me ride some wonderful and fantastic machines, from Norton model 16's and matchless G50s to brand new bmw S1000RRs and Ducati panagales. Accordingly I am pretty free about lending my bike out - 4 different people took their motorcycle license road test on my 1975 cb750K. I ask a lot of questions of people before they take off with my bike, and sometimes I will ride with them, but if you have a valid motorcycle license, insurance, and a modicum of riding experience - then why not. Bike sharing is part of what makes this hobby fun. 

I'm a little disappointed in reading this thread and so many people are "nope, god forbid they wreck my precious machine" instead of "I don't want to see someone get hurt." We buy insurance to replace the bike, but people can't be replaced as easy. I don't know that I would sleep at night if someone hurt themselves on my motorcycle because of me, but if they wrecked it and walked away fine...well...it can always be rebuilt...again....

When I get another new reliable motorcycle, I might try this, if the liability ins question checks out. 

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I kind of agree. I wouldnt want to rent my current bike as I have considerable mods all done by me and some of which are not really DOT legal but generally ignored. For the above mentioned liability reasons I dont think that bike is a good candidate, however one that was mostly stock and in good shape I would have no problem lending.

I guess I'm not as attached to my bike as some. 

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I think the whole "hope nobody gets hurt" bit is understood. [edited for content]

That said, I have a list of friends that can ride my bike at a moment's notice. If you are unsure if you meet this qualification, guess what? 

Edited by Pauly
I really should stop being a cunt to newbs.
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There’s a handful of people I let take my bikes. And a handful that I know I can go borrow a bike from if I need. But renting to complete strangers, no. Even if it was something I’m trading in anyway or don’t care about. Too much liability. 

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On 3/12/2019 at 7:25 PM, Pauly said:

I think the whole "hope nobody gets hurt" bit is understood.

Is it? I feel like the conversation would be a lot different if it was.

Maybe a lot less assumption that everyone except "special" people you personally vetted are just going to wreck your motorcycle and sue you, and a lot more discussion about what makes a good rental motorcycle vs a bad one and what actual precautions can be taken. Also a lot more discussion about the more common risks of rentals that don't result in an accident and liability lawsuit (like theft), since those are a real concerns. 

The majority of motorcyclists don't get into motorcycles accidents (going by the numbers it's less than 1%), but yet most people assume that lending their bikes to a licensed stranger is going to automatically result in an accidents and then they are going to get sued unless they vet those people beyond the legal requirements of operating a motorcycle.

just my .02 cents though, YMMV.

 

 

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4 hours ago, Uncle Punk said:

A Katana is never to be rented in the Coshocton area.

You have been warned.

So much truth 

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I want to rent someone's bike for a track day.... When I am done you will need tires...and maybe some side ratings..... This would be my fear.

Edited by snot

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On 3/19/2019 at 8:13 PM, snot said:

I want to rent someone's bike for a track day.... When I am done you will need tires...and maybe some side ratings..... This would be my fear.

I have to say, rental agency and insurance cover both these things clearly, and you'd pay for them as part of your rental. Also smoked clutches, any internal parts you lunch as part of a missed shift, etc...

Personally, I'd love it if someone took my rental bike for a track day and air-ed it out. think about it - the track is going to require you to have way more safety gear than the state does to ride on the street so I have less to worry about you being hurt, there aren't going to be any stupid, inattentive, cages so less risk overall, They are going to tech the bike in and make you sign a ton of waivers, and the rental agreement would hold you personally liable for any damage you do to the thing. So what do I have to worry about? that you are going to bounce it off the rev limiter? If you use up my tires you are just going to buy me new tires anyway (see rental agreement) so, hey I get new tires out of the deal. 

It's a bike, it should be ridden in anger at least one point in it's life and what better place to do it than a track. so really I guess all I have to worry about is all the fun you are having on my bike that I am missing out on, but I get paid for it so...seems fair. 

yeah, so maybe I don't rent you my rare as hens teeth ducati, my widomaker 1971 h1, or something that would be hard to repair or replace, but if I had a stock, new-ish, common, and easy to find parts for xsr900, sv650, or even cbr600 - why not? it's what the bike was made for.   

Edited by Geeto67

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1 hour ago, Geeto67 said:

yeah, so maybe I don't rent you my rare as hens teeth ducati, my widomaker 1971 h1, or something that would be hard to repair or replace, but if I had a stock, new-ish, common, and easy to find parts for xsr900, sv650, or even cbr600 - why not? it's what the bike was made for.   

one persons ducati is another person old "common" cbr600.  Based on our financial state and "psycho-social" build we tend to preserve our stuff or neglect our stuff. Be it a car, bike toy what ever. rich guy garage queens a lambo and poor guys wash and wax and maintain a civic just the same way as long as they love their car the same way. IT doesnt matter how rare or how valuable it is. 

That means the average guy who loves their bike doesnt feel comfortable renting their bike. Statistically Bike is more of a personal attached asset/toy/ luxury in these parts compared to car which is considered by most as just a utility. Statistically there is higher chance of people messing up on a bike with lot more damage than the oppsie moment on a car. And basically human beings are flawed and by biological design is looking for self preservation/ asset preservation/ their own family preservation/ ... in short to be selfish. Just the level of it varies from time to time. Its not wrong to worry about  imaginary accidents to your stuff/ imaginary illness to you family over imaginary injury to strangers. 

to summarize the big wall of text. , I do me, you do you and every one else do themselves. There is no right or wrong answer here. IF some one doesnt want to risk renting their bike for what ever reason they shouldnt. Some body else is comfortable renting it so be it. 

Edited by NinjaDoc

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