Tim Mason, a Langford-based entrepreneur, is launching a new peer-to-peer rental platform called PeerShare.
The company combines elements from popular platforms like Airbnb and Facebook Marketplace to create an all-in-one space for renting out a wide variety of items and services. PeerShare is expected to officially launch sometime in April.
Whether you're looking to rent equipment, tools, or even a nostalgic item like a retro gaming console, PeerShare aims to make the process as seamless and user-friendly as possible.
The idea emerged while Mason was working remotely in northern British Columbia. Constantly moving between Fort St. John, Chetwynd, and Tumbler Ridge, Mason found himself collecting more and more items with each move.
Initially, he thought it would be helpful to rent out storage space to avoid the hassle of storing his growing collection.
Soon, however, the idea expanded. Why not rent out everything he owned? This simple yet powerful concept became the foundation for PeerShare.
Mason has spent the last several months developing the idea, admitting that the process of starting a business on his own has been challenging.
"It's hard to manage everything on social media, from creating ads to reaching out to developers," Mason said.
The platform will allow users to rent virtually anything, with the only limitations being common sense and safety concerns.
Whether you're renting a kayak for the day or borrowing a generator, PeerShare aims to make it as easy as ordering a meal on Skip the Dishes.
"I want it to be seamless, almost like you just hop on the app, pick something, and you're good to go," Mason said.
To ensure trust between users, PeerShare will offer an optional ID verification process. Users who go through the verification process will receive a badge to show their credibility, and there will also be a reputation score, similar to Reddit karma, that reflects a user's history of renting and interacting with others.
In addition, users are encouraged to take before-and-after photos of the items they rent out, which will help protect against any damage or disputes.
As with any platform, there will be a fee structure in place. PeerShare takes a 12.9% commission on all rentals, which covers platform and payment processing fees.
There are also optional subscription plans for insurance coverage, which provide peace of mind in case of damage to items.
Despite the challenges, Mason is excited about the potential of the company.
"I just want everybody to see how awesome the potential of this could be," Mason said. "Whether it's renting a kayak for a day at Thetis Lake, or borrowing a tool for a weekend project, it will offer a new way for people to access the things they need without the burden of ownership."
For now, PeerShare is focused on building momentum and gaining traction, with the goal of partnering with insurance companies as the platform scales.
For more information, visit https://peershare.ca/.
