Online rental marketplace launches in Dubai

Dubai residents can now share their belongings with others by lending and borrowing a wide range of items with ease. Whether you’re looking for barbeque equipment for a family lunch on a sunny day, or Halloween costumes for your kids, tnerit, an online rental marketplace, has it all. The seamless app presents people with opportunities to earn and save money, making tnerit an indispensable part of Dubai communities.

Categories currently available on the app include: Electronics, Home Garden & DIY, Holiday & Travel, Toys, Games, Hobbies & Party Supplies, Sports & Fitness, Appliances, Apparel, Music & Musical Instruments, and Books.

A spokesperson from tnerit says: “You can have it all with tnerit – borrow items you need and profit from lending out your items to the community. Starting today, we want tnerit to be the go-to app used throughout Dubai by people who wish to earn and save. We live in a time when individuals want to own and experience products that exceed what they can afford. Hard work and savings are one way to go about achieving these desires – but an easier way is tnerit.”

Ali Ebrahim Al Abbas
Hussain Ebrahim Al Abbas

 

 

 

Gelogis

 

 

 

Emirati brothers, Ali and Hussain Ibrahim Al Abbas, are the masterminds behind this holistic online marketplace. When we asked them about how tnerit works, the brothers gave an outline of the process for users. “For borrowers, after signing up and submitting their Emirates ID details, the tnerit team reviews and verifies the details. Once verified, borrowers can place rent requests for their desired item(s). When the lender accepts the rent request, a built-in messaging service is activated for communication (item drop-off/pick-up) between both parties. Whereas, for lenders, after signing up and submitting Emirates ID details, the tnerit team review/verify the details. Once verified, lenders can add their items for review/approval by the tnerit team. Once approved, the listing goes live on the platform. When accepting a rent request from the borrower, a built-in messaging service is activated for communication (item drop-off/pick-up) between both parties. At the end of the rent, both parties get the opportunity to rate each other and the experience.”

While there are no subscription fees, a transaction fee is charged. “In order to cover our operating costs and continue enhancing the platform, tnerit charges both the lender and the borrower a rental fee; 7% for the lender and 11%  for the borrower,” they explain.

Security of transactions is an alarming concern in any online marketplace. In this case, assurance is also mandatory to ensure that rented items are returned in the same condition they were received. “It is the sole responsibility of the borrower to comply with and compensate the lender in case an item is damaged and/or lost by the borrower during an active rent,” they clarify. “tnerit is not responsible for any damage and/or loss of an item rented out by a lender. It is worth noting that tnerit is only accessible to citizens and residents of Dubai, where borrowers would be required to undergo a swift verification process which includes submitting their Emirates ID details prior to placing a rent request and/or listing an item on tnerit.”

tnerit is currently available for users in Dubai only and is accessible via the Apple App Store and the Google Play Store. The company plans to make the app available in Abu Dhabi and Sharjah in 2019.

 

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