"What should I charge?" is the question that stops most people before they even publish their first listing. Price too high and nobody books. Price too low and you feel like you're giving it away. So the item stays in the cupboard, earning nothing.
Here's the honest answer: pricing isn't a guess, and it isn't permanent. There's a simple way to land on a fair number, and you can always adjust it. Let's walk through it.
The simplest pricing rule that works
If you want one rule to start with, use this: charge roughly 5% of the item's current second-hand value per day.
- A drill worth £200 → about £10/day
- A pressure washer worth £300 → about £15/day
- A camera worth £800 → about £35–£40/day
It's not a law of physics — it's a sensible starting point that feels fair to renters and still pays your item back quickly. From there, you adjust based on demand and what similar listings charge.
The thing to remember: a fair price that books beats a high price that doesn't. An item earning £10 a day, eight days a month, makes far more than one priced at £25 that never goes out.
Always check the local market first
Before you set a number, spend two minutes looking at what similar items rent for near you on Rentify. Pricing is local — a camera in London commands more than the same camera in a smaller town.
Look for:
- Items like yours, in your area — the closest comparison you can find.
- The going day rate — aim to sit in the middle of the pack, not the top, when you're new.
- What they offer — better photos and clear accessories can justify a slightly higher price.
When you're starting out with zero reviews, price a little below the established hosts. A small discount is what convinces the first few renters to take a chance on you — and those first reviews are worth far more than the few extra pounds.
Day rate, weekly rate, deposit: what each one does
A good listing usually has more than one price. Here's how the pieces fit together.
| Pricing lever | What it's for | Typical approach |
|---|---|---|
| Day rate | Your core price for short rentals | ~5% of second-hand value, adjusted to local market |
| Multi-day / weekly rate | Encourages longer, hassle-free bookings | Discount longer rentals — e.g. a week for the price of 4–5 days |
| Security deposit | Protects you against damage or loss | Set for higher-value items; keep it reasonable so it doesn't scare renters off |
Weekly discounts are your friend. One renter taking your item for seven days is far less work than seven separate handovers — so rewarding longer bookings with a lower effective rate is good business. A common pattern is "rent a week, pay for five days."
Deposits should reassure, not deter. A deposit makes sense on a £600 camera. On a £30 item it just adds friction. Match the deposit to the real risk, and renters will feel it's fair.
Pricing by item type
Every category behaves a little differently. Some rough UK day-rate ranges to anchor against:
- Power tools (drills, sanders, saws): £8–£20/day. Cheap to buy, constant demand — see How Much Can You Make Renting Out Tools.
- Cleaning gear (pressure washers, carpet cleaners): £15–£35/day. People happily rent these instead of buying.
- Cameras, lenses, drones: £25–£60/day. Higher value, higher rate, deposit advised.
- Party and event gear (PA speakers, projectors): £20–£50/day. Demand spikes around weekends and holidays.
- Camping and outdoor: £15–£40/day, strongly seasonal — time your pricing to demand using What to Rent This Summer.
- Vans and trailers: £40–£80/day. High rates, steady demand for moves and tip runs.
These are starting points, not targets. Your local market and your reviews matter more than any chart.
The biggest pricing mistake new hosts make
It's not pricing too high or too low. It's pricing high before you have any reviews.
When you're new, you have no track record. Renters are taking a small leap of faith. A competitive opening price lowers that barrier, gets you your first bookings, and earns you the reviews that let you raise prices later with confidence.
Think of your first few rentals as buying reviews at a discount. Once you've got a 5-star history, you can nudge prices up — and renters will pay it, because now you're proven.
When (and how) to adjust your price
Pricing isn't set in stone. Use these signals:
- Lots of views, no bookings? Your price is probably too high for your current reviews — or your photos need work. Try a small drop first.
- Booking constantly, always available requests? You're underpriced. Nudge it up 10–15% and see if demand holds.
- Seasonal item going quiet? Drop the rate in the off-season to keep it moving, then raise it when demand returns.
Small, regular adjustments beat agonising over the "perfect" price up front. Publish, watch, tweak.
Don't forget the bigger picture
A slightly lower price that keeps your item booked all month will always out-earn a premium price that sits idle. If you want to see how day rate, utilisation and number of items combine into real monthly income, read How Much Can You Earn Renting Out Your Stuff.
Common questions
How do I decide what to charge to rent out my item?
Start at roughly 5% of the item's current second-hand value per day, then check what similar items rent for near you and adjust. When you're new, price slightly below established hosts to win your first reviews.
Should I offer a weekly discount?
Yes. Longer bookings mean fewer handovers and less hassle, so rewarding them makes sense. A common approach is charging for five days when someone rents for a week.
Do I need to take a security deposit?
For higher-value items like cameras, drones or vans, a reasonable deposit protects you. For low-value everyday items, a deposit usually adds friction without much benefit.
Why is my item getting views but no bookings?
Usually the price is too high for a listing with no reviews yet — or the photos aren't building enough trust. Lower the price a little, improve the photos, and bookings tend to follow.
Can I change my price after publishing?
Absolutely, and you should. Treat your first price as a starting point. Adjust up when you're booking constantly, and down when an item goes quiet or moves into its off-season.
The bottom line
Pricing isn't a gamble and it isn't forever. Start at about 5% of second-hand value, check your local market, price a little low until you've earned reviews, reward longer bookings, and adjust as you learn. The worst price is the one that keeps your item in the cupboard.
Pick a fair number, publish, and let the bookings tell you the rest.
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Ionut-Cosmin Lixandru — Burton upon Trent, UK Founder of Rentify. Building a marketplace to help people rent items locally, earn from unused things, and connect with local service providers more easily.