Make Money Renting Your Car Plus Your Car Gets Covered

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Make Money Renting Your Car Plus Your Car Gets Covered

 

RentMyRide is South Africa’s first neighbor-to-neighbor car rental platform. The website makes it possible for anyone to run a small side-business by renting out their own car.

RentMyRide is part of a worldwide movement called ‘Collaborative Consumption’ or the ‘Share Economy’. The movement’s poster child is Airbnb.com. This 25 billion dollar company makes it possible for anyone to turn their home into a hotel.

 

According to Peter Puren, CEO of RentMyRide, the sharing economy is a movement born not only out of necessity but just plain old common sense. “It’s time to start utilizing your assets to their fullest extent.”

RelayRides is the biggest neighbor-to-neighbor car rental company in the US and currently has almost 100 000 cars on their website. Drivy, which started in France and is rapidly spreading all over Europe, currently has more than 26 000 cars listed. Similar companies are thriving in almost all big cities around the world.

Car owners can now enter the South African car rental market, previously almost inaccessible to the man on the street. Owners can make anything from R2500 to R11 000 a month from a single vehicle.

Renters can save at up to 40% compared to regular car rental companies and they have the wider selection of choice.

Renting out your own car can be a daunting thought at first, but RentMyRide makes it easy and safe. Their 10 million rand insurance policy which includes 24/7 roadside assistance should put your mind at ease.

Renters create a profile on RentMyRide.co.za and then their details are screened. Car owners set the availability and price of their car. They then get notified when a renter requests a booking.

Owners control who they rent to and can accept or deny a booking request. Once a rental is complete, owners and renters can review their experience for future user’s benefit.

RentMyRide is launching in Cape Town and from there will spread out to form a nationwide network of car owners and renters.

One of RentMyRide’s early adopters, Mike made R42 000 last year renting out his car.

It was a year ago in the spring of 2014 when Mike Bunn was first introduced to an awesome new concept: earning side income by renting out your personal vehicle.


Mike was looking to start a small business, but wanted something that he can do in his spare time and would not interfere with his full time job as an accountant. He came across an ad by RentMyRide that offered to rent out your personal vehicle.

As an early adopter to the RentMyRide program Mike has a lot to say about his experiences as a RentMyRide owner. Register Your Can on RentMyRide

How did you decide to rent out your first car on RentMyRide?

After seeing that initial ad to RentMyRide, Mike recognized a great opportunity.

“At first I was a little bit skeptical about renting out my car to strangers, but looking at RentMyRide’s R10Million insurance policy gave me peace of mind. I thought I will first play it save and only rent out my older model 2007 VW Polo and see how it goes. The car was mostly out on longer term rentals to international volunteer workers and some overseas university students. The international renters were a bit more conscientious than the South Africans. One German even had the car polished before he returned it. After a few months I bought two more cars to rent out.

He has since enjoyed how RentMyRide has a very personal feeling that is all about community and its marketplace. Register Your Can on RentMyRide

What are you using the extra income earned through RentMyRide for?

RentMyRide has been a great addition to Mike’s own paychecks. His side income of more than R9000 per month has been nice and steady, allowing him to meet two different objectives —building his own business, as well as having discretionary spending money to use as he pleases.

“I use the extra money for a variety of things…with all the price increases some extra cash always comes in handy. I have also recently spoiled myself a bit and bought a 700cc Smart Car to have some fun in over the weekends.”

As for building my own business, “I realized renting out cars is an easy way to start small and grow my business when I can afford it. Also all the terms and conditions, signing of contracts, the booking system and payment system are done by RentMyRide. They have a robust R10 Million insurance policy and also supply 24/7 roadside assistance and customer support. It really is personal car rental made easy.”

 

How to Register your car

 

Source: Cape Business News

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27 000 South Africans Lost about R600 Million in Bitcoin Investment Scam

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Since cryptocurrencies appeared and their price increased, scammers tried to take profit from it. Hacks, scams, and mysterious Initial Coin Offerings were the tactics used by crooks that wanted to steal others’ funds. Now, the country that is suffering from an important scam in South Africa, where more than 27,500 people, have been affected.

 

The Bitcoin investment group BTC Global has reported that R600 million in crypto assets have been stolen from the group’s investors.

South African Investment Group Scam

Investors from South Africa, Australia, and the United States have been affected by one of the most important Bitcoin hacks. According to local news sources, Steve Twain, the sole manager of the investments at the company, disappeared in February 2018 without mentioning anything about the funds. BTC Global’s administrative team wrote a post on Facebook two weeks ago explaining that they were not able to locate Twain.

At the moment, the South African Directorate for Priority Crime Investigation (Hawks) is working investigating claims against BTC Global. Mr Captain Lloyd Ramovha, part of the institution, confirmed that the Serious Commercial Crimes Unit is working side by side with the “Hawks.”

 

Some investors have reported very important sums of over $100,000. Individuals that wanted to invest in BTC Global, had to send their funds to a single wallet address.

Mr Ramovha commented:

“I have spoken to one of the investigators in our team and he has confirmed that this matter came to them about two weeks ago. There are in excess o 27,500 complaints with many outside South Africa. The amount is over $50 million and could rise as more victims come forward.”

When speaking with The Sunday Times, Antoon Botha of BMV Attorneys confirmed that they are working with several clients involved with BTC Global. According to Botha, they are planning to take legal actions against the company and its representatives.

“The investigation is in its infancy,” said Mr Ramovha. “I also cannot say whether it is a Ponzi scheme. BTC Global is being investigated for contravening the Financial Advisory and Intermediary Services Act,” he said.

Cryptocurrency Risky Investments

But even when the funds have been lost, the company keeps explaining that cryptocurrency investments are risky and that investors should know what they were doing. As BTC Global works as any other fund, the risk of losing the investment are inherent, says an administrator at the company.

You may also read:

What is Bitcoin and How Does it Work

Cheri Ward, an administrator at BTC Global, says:

“Every single person who invested in BTC Global did so of their own volition and subsequent to having conducted their own research into the fund. As is the case with any fund into which money is invested there is no guarantee that an investor will be receiving any return on their investment.”

Crypto Scams

Clearly, investing in cryptocurrencies is a risky investment. The market is very volatile and it is not regulated yet. This situation is perfect for scammers to spread and steal investors’ funds.

All over the world cryptocurrency scams have been registered. Hackers have been stealing investors’ funds from cryptocurrency exchanges. Initial Coin Offerings (ICOs) have never started the promised project. Finally, fake cryptocurrencies and platforms promising unrealistic returns, as BitConnect, have also been in the news.

Some time ago, Coincheck, a Japanese exchange, has been hacked and $500 million dollars in NEM coins were stolen. At the moment, NEM is working with the local authorities in order to track the funds.

You may also read:

Places to Buy and Sell Bitcoins in South Africa: Open A Free Account

As investors, it is important to be aware of these scams and to avoid not recognized sites and not professional businesses. Now, 27,500 individuals are trying to locate their funds, but tomorrow it can happen to any of us if we are not careful about the investments we do.

 

Source: Bitcoinhub

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8 Investment Ideas That South African Youth Must Consider

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8 Investment Ideas That South African Youth Must Consider. Get some ideas of how you can invest for your future. Business is key, it creates wealth and provides income for the workers. Read more…

1. Rental Properties

More entrepreneurs should consider rental real estate as an important part of their portfolio. There are a number of ways to make money in the residential real estate market, including making home improvements, flipping houses, owning and renting property, investing in residential real estate, and investing in mortgage notes.

 

2. Car Rentals

Owning a car rental franchise offers a unique opportunity for the right person. Franchise business opportunities in car rental can be extremely successful when hard work and determination meet a successful business model, support and resources. Franchising offers franchise seekers an opportunity to be their own boss while also having access to a proven business model and marketing plans that have built a recognized, strong brand.

3. ICT

The South African information and communication technologies (ICT) sector is well established and sophisticated. South African companies are world leaders in pre-payment, revenue management and fraud prevention systems, and in the manufacture of set-top boxes, all exported successfully to the rest of the world.

4. Education

Both Government and the private sector have allocated large budgets to improve this sector. More franchises are increasingly being established, especially Technical and Vocational Education and Training (TVET) colleges (formerly known as Further Education and Training (FET) colleges), due to the demand for such facilities and skills in the country.

5. Agriculture

South Africa is a country of many challenges and is also a gateway for investors in Africa and offers enough opportunities in agriculture for investment, cooperation, expansion and trade. New foreign agricultural investments in South Africa are to the advantage of South African farmers and assist in job-creation.

6. Manufacturing

While the sector will continue to offer opportunities in 2015, entrepreneurs should be exploring export orientated manufacturing. Government offers attractive incentives, such as rebates and tax deductions, for component manufacturing, as well as an entrepreneur’s ability to develop overseas markets for such products.

7. Tourism

While manufacturing should be export orientated due to the weak rand, entrepreneurs should take advantage of this in the tourism sector due to foreign tourists benefiting from the favourable exchange rate. Business tourism is increasingly growing in attractiveness due to South Africa being recognised as the gateway to Africa, and due to the weak rand.

8. Infrastructure

Government, at all levels, is investing in upgrading services and facilities and smaller contractors should seek ways to get involved in the various scheduled projects. Apart from low-cost housing, basic services, such as water, electricity, sewage plants, as well as repairs and upgrades to Government buildings and recreation sites, are needed in cities and towns across the country.

 

Source: YouthVillage

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