FAQ - Frequently Asked Questions
Registration & Login
Registering for a new account takes less than 2 minutes and is possible directly via the link in the navigation bar. Login is then always done by entering your email address and password.
Nothing! Registration is free of charge. Costs (so-called processing fees) are incurred only for completed rentals. Myfundus keeps 20% of the rental amount paid by the Borrower and pays the Lender 80% of their account.
Click on Forgot password in the login window, then we will send you a link by e-mail. If you click on the link in the e-mail, you will be taken to an input mask in which you can enter your new password twice. The old password is then no longer valid.
Anyone who is at least 18 years old.
Insurance & procedure in the event of a claim
Myfundus claims that renting on the platform is safe. Basically, you have the freedom to rent your items only to those people who make a good impression on you. Our review system with star rating and comments is very helpful for this. You can see a person's rating by clicking on their first name. If you have doubts, reject the rental request.
You are free to ask the Borrower for a deposit. However, the exact conditions (especially the amount, payment method and repayment) must be agreed upon between you and the Borrower. Myfundus is not responsible for the safekeeping of the deposit and any claims made by you.
Please report the damage immediately to your lender and take 2-3 photos of the defect on site. You can send them via the messaging system to the lender. You do not have to pay for normal wear and tear or optical defects (e.g. scratches on used items). Neither for product defects existing before the handover of the rented item. If there is a product defect, the lender may have the possibility to repair the damage via the warranty obligation (warranty).
First of all: if you have a bad feeling about a rental request, you always have the right to reject the request. You are also free to request a deposit from the borrower before the start of the rental period. However, you must agree the exact conditions (in particular the amount, payment and repayment) with the borrower. Myfundus is not responsible for keeping the deposit and any claims you may have made. Even with compliance with the duty of care, damage can of course still occur in rare cases.
In case of misappropriation by the borrower, a report must be filed with the police via the lender. With the proof of the report Myfundus will refund the value of the item via the insurance (replacement value up to 24 months, otherwise current value). If the borrower is responsible for the loss of the item, he/she will be charged the replacement value of the item via Myfundus and this amount will be paid to the lender.
Repairs of the items are always made through the Lender himself. Many of the Lenders already have a contact that they consult in case of damaged or defective rental items. However, if help is needed, Myfundus works with various partners and is happy to advise individually to find a solution.
Payment, Costs and Earnings
When the Borrower makes a rental request, a reservation of the corresponding amount is made on his method of payment. A reservation means that the amount is reserved for a maximum of 24 hours, but not yet debited. The amount will only be debited if the Lender confirms the rental request. If he rejects the rental request or lets it expire (if he does not respond within 24 hours), the reservation is automatically deleted again. Depending on the credit card provider, this chargeback may only be apparent after a few working days. The Lender will be paid directly after the end of the rental period the outstanding rental amount to the IBAN number specified in the profile.
Myfundus attaches great importance to the security of your data, especially your payment details. We use SSL encryption for this purpose. In addition, all payment data is not stored with us, but only with our external payment service provider. He takes all necessary security precautions and is PCI Level 1 certified, which is the highest level of PCI DSS compliance. For credit card payments, we use the 3D SecureCode procedure for higher amounts, which requires the entry of an additional password for each credit card payment. This provides additional security.
You must enter the details for payment of a rent when creating your first rental request. You have to enter the details for the payment of a rental at the latest when uploading your first item. You can also find this information in your account settings, where you can also adjust your payment account at any time.
With Myfundus, you only pay when you rent something. When you rent something, you pay the amount charged by the renter. As a Lender, you get paid 80% of your requested price. With the 20% we manage the platform, pay the costs for payment transactions, send reminders and answer your questions. For rental amounts below 5.- we charge an additional 0.50 EUR as a handling fee to cover the transaction costs of the payment providers. Myfundus creates new opportunities for you to earn money with your items easily and securely. We are therefore convinced that this sharing is fair.
When you send a rental request, we make a reservation for the corresponding amount on your payment method. This means: we do not yet debit anything, but only reserve the amount for a maximum of 24 hours. If the Lender accepts your rental request, the money will be debited. If the Lender refuses or does not respond within 24 hours, we delete the reservation of the amount and nothing is charged. The chargeback to your credit card may take a few days.
As soon as you confirm a rental request for one of your items, the amount will be debited to the Borrower. On the day following the end of the rental period, you will be paid the rental amount to the account you have specified. You can change the IBAN number at any time in the dashboard under Profile .
I am a Borrower
In the Search items section you can enter a search term in the text field and apply various filters as desired. For example, if you tick a category, the search will be limited to this category only. You can always switch between the list and map view. In addition, you can use the filters to narrow your search by rating, price and distance.
When you have found a suitable item, click on Send a rental request. The Lender of the item will receive your rental request at this moment. This request is valid for 24 hours (maximum until 10am of the day the rental starts). The Lender can confirm your rental request or reject it. If not, the request will expire after the deadline. In all three cases you will be notified. If the Lender confirms, the rental has come into effect and is binding.
Renting via Myfundus brings you great advantages: - You benefit from a complete insurance solution - You only deal with Lenders that have been verified by us - You see immediately if an item is available or not - The whole payment process is simple and secure via Myfundus - The rating system tells you how good and reliable a Lender is - If you have any questions or problems, our Myfundus Happiness Center is always at your disposal.
Even if an item is shown as available in the search, you must always submit a rental request. This is the only way the Lender will be made aware of your intention to rent his item and can coordinate the transfer.
A rental request is basically valid for 24 hours. During this time, the Lender can accept, cancel or simply let the rental request expire. However, the rental request is valid until 10 a.m. of the day on which the rental begins. This regulation has the effect that both Borrower and Lender know at 10 o'clock at the latest whether the rental on the same day will work or not.
In general, there is no restriction here, as long as the lender confirms your rental request.
A distinction must be made here: As long as the Leder has not confirmed your rental request, you can edit or delete it at any time. That is, you can enter another start or end date at any time. If the Lender has already confirmed your rental request, you can extend the current or future rental by creating a new rental request for the corresponding item. This means the Lender must accept it and there will be a new payment. You cannot shorten a confirmed rental request.
A rental request that has not yet been confirmed by the Lender, you can not cancel, but simply delete. This is free of charge and since no money has been received yet, no refund is necessary or the reserved amount on your credit card will be released. Cancellation refers to rental requests that have already been confirmed by the Lender. You do this by clicking on the button Cancel in the corresponding rental request. Cancellation costs you a flat rate of 20%, the rest will be transferred back to your account. However, other Myfundus users can see how often you have already cancelled rentals (via the so-called cancellation rate). By the way, you can cancel until shortly before the start of the rental period, namely until 23:55 the day before the start of the rental period at the latest. After that, the entire rental amount is due.
In principle, the Borrower collects the item from the Lender and returns it at the end of the rental period. However, you are free to agree on other forms of handover (e.g. Lender brings the item, possibly against payment, etc.). You will find out the address and full name of the Lender once the Lender confirms your rental request.This contact information is available through the booking information in your dashboard. The details (e.g. the exact time) are best clarified with the Lender directly via our messaging system in the dashboard. The idea of Myfundus is that items are not shipped, but found and rented as locally as possible. If you still want to have an item shipped, clarify this directly with the Lender as well. In case of no personal delivery of the item, Myfundus and our insurance do not assume any liability.
When handing over the item, the Lender will certainly give you a few tips on how best to use it or what you should refrain from doing. However, it is even more important to us that you take at least as much care of the rented item as you do of your own property. After all, it is another person's item - they expect it to come back whole and in working order. Please inspect the item before accepting it from the renter: does it have damage or does it not match the description on Myfundus? Then do not accept it and report the item number to us. An item received by you is considered to be received in perfect condition. In case of no personal delivery of the item, Myfundus and our insurance company do not assume any liability.
If the Lender does not appear at the agreed meeting point at the agreed time, try to reach him by phone. Be tolerant and wait a few minutes.If the renter really does not show up, notify us via the contact center and give us the item number as well as the reference number of the rental event. This way we will refund you 100% of the amount paid. Because: If the lender appears clearly too late, you do not have to accept the item and you can withdraw from the rental contract.
If the item has defects or differs significantly from the description on Myfundus, you do not have to accept it and you can withdraw from the rental contract. In this case, we will return 100% of the amount you paid for the rental, by mentioning the item and reference number. An item received by you is considered to be received in perfect condition.
Borrower and Lender can rate each other after the end of the renting period. Be honest and fair, this is the only way to make the reviews meaningful. A review includes a star rating (1 star = very bad, 5 stars = very good), and you can optionally add a comment. In case of bad reviews, the Myfundus team automatically intervenes and performs a neutral quality check. This way we guarantee fair play and prevent abuse of the rating. If you feel that you have received an unjustified bad review, please contact the Myfundus team to find a solution together.
No. Myfundus is not an auction platform where prices can be negotiated. The Lender determines the price he wants to charge for the item depending on the rental period. It is up to the Lender at any time to adjust this price by editing his item. However, rental requests that have already been booked are not affected by this price change.
I am a Lender
In the List an item section you can make your articles available to User. For this you need at least one image whose image rights you own. Add an item description and define the price per day. If you are missing any information, you can always pause your upload by clicking the Safe for later button and finish it later by clicking My items in the dashboard.
If we have indications that attempts are being made to arrange a rental via our platform but outside of Myfundus , we reserve the right to delete corresponding comments or descriptions and to block the account.
Renting via Myfundus brings you great advantages: - The whole payment process is done easily and securely through Myfundus - You have the guarantee that you will receive your rental amount directly after the end of the rental period. - You benefit from the insurance of your items - You only deal with Borrowers that have been checked by us - The rating system tells you how popular and reliable a Borrower is.
Prices are always defined per rental day. So when you upload an item, you specify what the Borrower should pay per day. As a Lender, you will be paid 80% of this price. You can also define a discounted price from the 5th or 7th day. The purpose of this reduction is: who rents an item over a longer period of time should benefit from it and have to pay less per day. You can overwrite these reduced prices at any time, i.e. after the 7th or 30th day you can give more, less or no reduction at all.
The ideal price for your item depends on the condition and demand in your area. In general, we recommend that you set 3-5% of the purchase price as the daily price. However, it is always worthwhile to see how much other Lenders are already charging for similar items. You can also adjust the price at any time by editing your items in the dashboard.
Myfundus is a rental platform for objects of all kinds. This designation is kept open - quite deliberately. Basically we don't want to make too many restrictions, but what we exclude are cars and apartments / real estate. For these areas, there are more suitable platforms than Myfundus, which are quite specific to these categories. In addition, we do not want to have items and descriptions with a racist or violence glorifying background on the platform. We check every newly uploaded article and release it if it meets our basic requirements. However, as a user you are responsible for the uploaded content. Myfundus can only partially check the complete content.
You confirm a rental request in the dashboard in the Transactions section where you can see the open rental requests. So that you are informed in time and can accept or reject your rental request within 24 hours, we will send you an SMS or e-mail notification per request.
You can cancel the rental in the corresponding rental event in the dashboard under Transactions. You can cancel until shortly before the start of the rental, namely until 23:55 on the previous day. However, if you cancel your rental at short notice, you will receive a negative rating.
No, this is not possible on Myfundus. Items on Myfundus are always insured and this would not be possible with free rentals. Also, our experience has shown that renters take better care of items they have paid for. Uploading and searching articles on Myfundus is free of charge, but in order to run and develop the platform we also depend on income from rentals.
Unless otherwise agreed, the Borrower will pick up the item from you. However, please clarify the details with the Borrower via Myfundus's messaging feature: what time, what drop-off location, etc. You will get the exact Borrower details (full name & mobile number) as soon as you confirm the rental request. From then on you will find all relevant information in the dashboard.
There are items which cause variable costs with use (e.g. the gasoline consumption of the lawn mower). Please inform the Borrower before the rental starts if these costs are already included in the rental amount or if something has to be organized separately. It is best to write such things in the description when you upload your item, so that the Borrower knows what he is getting into before the rental starts.
When you receive the item back from the Borrower, you are obliged to inspect it and check for any damage. You must report any defects to him/her immediately, and also notify Myfundus. If you do not do this, you risk not benefiting from the insurance coverage. For defects that are not visible during the inspection after the return, you have three days to report them.
If the Borrower does not show up at the agreed meeting point at the agreed time, try to reach him by phone. Basically, be a little tolerant and give him a little more time. But if the Borrower really returns the item much too late, use the rating function on Myfundus and don't hesitate to give an appropriate rating there.
In this case, please contact us. We will cancel the rental free of charge and refund 100% of the rental amount to the Borrower. Don't forget to set the item to inactive so that you don't receive any new rental requests for the item.
Normally, your items are in active status, which means that User can make a rental request for your items. If you are away for a certain period of time or do not want to rent out your items, you can set them to pause in the dashboard - all items will then be unavailable to Borrowers for the period you define. If one of your items is in use or being repaired, you can set it to inactive individually. But don't forget to set it back to active afterwards.
You cannot delete an item only if it is currently rented out or a rental is pending. In these cases, you must first wait for the rental to end or cancel the rental and then delete it permanently via the dashboard.
As a Lender, you evaluate the Borrower. Be honest and fair, only then are the reviews meaningful. A review includes a star rating (1 star = very bad, 5 stars = very good), and you can optionally add a comment. In case of bad reviews, the Myfundus team automatically intervenes and performs a neutral quality check. This way we guarantee fair play and prevent abuse. If you feel that you have been rated badly without any reason, contact the Myfundus team to find a solution together.
On Myfundus, it is primarily about the items. Your personal details, such as your exact address or your last name, are only visible once the Borrower has sent you a rental request and you have confirmed it. Before that, only the following information is visible: your first name, your picture, your ratings and your items.
My Profile
You can find your settings in the dashboard under Profile. There you can customize everything from your address to your payment account to your cell phone number.
You can find your payment details in the dashboard under Profile in the Billing tab. There you can adjust your payment account. If you want to use a different payment method, simply enter it at the checkout of the next rental.
On the dashboard you will find a summary of all events that are relevant for you, e.g. future rentals, open reviews or unread messages as well as your profile settings. The dashboard should show you at a glance what is going on around you as a user.
Please note that you can only delete your account when there are no current or future rentals and/or open invoices. Please wait for these rental events or cancel them if necessary. After that you can delete your account with a request via the contact form.
Business Customers
Yes, legal entities may also register. The registration must be made by a person authorised to represent the company, who must be clearly named.
If you run a bar, cafe, restaurant, or store and have regular opening hours, you can easily become a Myfundus Station. Register as a business customer on the platform and tell us that you would like to be listed as a Myfundus Station. As a Myfundus Station we provide you with homeless items that you can put in your store and rent out at the same conditions as all other User. After a predefined rental period you can freely dispose of the item. You are responsible for the rental, maintenance and repair of the items.
Notifications
Yes. For rentals where the value of the item is low, Borrowers and Lenders can determine how they want to handle identification. For rentals of high value items, Myfundus requests a copy of the ID as an additional security measure. This identification process happens only once.
All you need to know for items
You can subscribe to our newsletter directly during registration. Alternatively, you will find a field for newsletter registration at the bottom of the website. If you want to unsubscribe from a newsletter, you can do this directly via a link in the newsletter.
As a rule, the Borrower returns the item in the same condition as he received it. Therefore, please make sure that you, as the Borrower, return the item in good condition at the end of the rental period. If it can be proven that the Lender has to undertake a significant additional effort due to the cleaning, we will charge the Borrower a cleaning fine.
Yes and very gladly! Myfundus works together with selected Myfundus Stations. These are coffees & restaurants that can rent out items via Myfundus in addition to their regular business due to their opening hours. We are happy to mediate between Lender and Myfundus Station to keep your items available on Myfundus.