What: A fashion rental marketplace; connects people who want to rent out their designer clothing with fashionistas willing to rent
Expected pay: You set it
Commissions & fees: 20%, plus $8/month fee
Where: Nationwide
Requirements: Designer women’s clothing, shoes or handbags; a social media account giving StyleLend total access
Review:
PROS:
- You set the pricing, but it suggests listing at a price that’s equivalent to 5% to 10% of the item’s retail purchase price
- The site charges renters for shipping and insurance and promises to pay you up to $50 to repair items damaged by a renter. The insurance policy also provides coverage is an item is destroyed, providing reimbursement based on the depreciated value of the item.
- You get paid once the rental is complete.
CONS:
- You are required to give the site full access to your social media account when you register
- You have to become a StyleLend “member” to list your items – membership costs $7.95/month.
- Odds are slim to find someone your size, etc that would like to rent your items
- The site doesn’t get a lot of traffic
- At the suggested rate, you’d have to rent your item 12 to 24 times to recover the cost of the clothing after paying site commissions.
Good sites to sell used clothing: Amazon, eBay and Poshmark.
