The concept of renting rather than owning has gained massive popularity among people in recent years.
Consumers are actively looking for cost-effective and flexible alternatives to ownership, and on the other hand, rental marketplaces provide the perfect solution for this.
Whether it’s homes, cars, or tools, rental platforms connect people who own assets with those who need temporary access to them.
If you are planning to start a rental marketplace platform, then this blog is for you.
What is rental marketplace?
It’s an online platform that connects people who have something to rent with those who need it temporarily.
The idea is instead of buying an item outright, users can pay a fraction of the cost to borrow it for a set period.
So, this benefits both parties – owners generate passive income while renters save money and enjoy flexibility.
Some common examples include Airbnb for vacation rentals, Turo for car-sharing, and Fat Llama for peer-to-peer equipment rentals.
These platforms handle listing management, payment processing, and user interactions to create an awesome rental experience for their users.
Some success stories
Let’s take a look at some of the most inspiring success stories that prove just how powerful the rental marketplace model can be.
1) Airbnb
A pioneer of the online rental marketplace business model has completely changed the way people travel. This revolutionized the entire vacation rental business and made it easy for homeowners to rent out their spaces and earn income.
According to Statista report, over 448 million Airbnb nights and experiences were booked. This was nearly twice as many bookings as five years ago. It’s revenue was 9.92 billion U.S. dollars in 2023. It shows drastic growth compared to 2019.
2) Turo
A peer-to-peer car-sharing platform where private car owners to rent out their vehicles.
As of 2024, Turo reported approximately 150,000 active hosts, 350,000 active vehicle listings, and 3.5 million active guests worldwide. They operate in numerous cities including the United States, Canada, the United Kingdom, France, and Australia.
3) Peerspace
It has completely changed the way how professionals and creatives find and rent venues for meetings, events, and productions.
As of January 2025, Peerspace has grown into a leading space rental marketplace, generating an estimated $35 million in annual revenue and offering access to over 45,000 unique spaces across North America, Europe, and Australia.
Types of rental marketplace
Rental marketplaces are categorized into different types. Here are some,
1) Vacation Rental
Vacation rental platforms connect short-term renters (guests/travelers) who prefer home-like stays with property owners (hosts)
One perfect example is Airbnb, which allows millions of hosts to earn passive income and on the other hand, provides mesmerizing experiences to travelers.
If you are planning to build a platform like Airbnb, then have a look at our Airbnb clone
2) Vehicle Rental
It connects people who are looking to rent a car or vehicle for a short period of time. Vehicle owners can list their bikes or cars on a platform and earn an income.
Platforms like Turo make vehicle rentals more accessible to all users.
3) Space Rental
Space rental platforms allow hosts (who own space) to connect with people (who rent space) for temporary occasions like office meetings, events, parties, and productions.
Peerspace is the perfect example of a short-term space rental.
4) Equipment Rental
Need equipment for a short time? Buying isn’t always practical or affordable.
The best solution? Simply rent it!
Whether it’s a camera, tools, or musical instruments, renting allows you to access high-quality gear without the hefty price tag.
Fat Llama is a great example of equipment rental.
How to get started?
You have two options,
- Developing it from scratch
- Choosing a readymade solution
1) Custom Development
Let’s say, you are planning to build a platform from scratch like Airbnb, then you have to hire developers plus it’s a time-consuming process as well.
You need to hire people for design, development, and testing and manage the project whether it’s going on the right track.
For example, it takes around 2 years to build a platform like Airbnb and you need to manage the cost for development which will be around $45000 to $80000 on average.
2) Readymade App solution
Opting for a readymade solution is a good choice as the features are pre-built and you can launch your platform within a month.
For example: If you want to build an app like Airbnb, with the help of GlyphStay Airbnb clone, you can launch both web and mobile apps within a month.
This can save you both time and cost. Yes, a readymade Airbnb clone can cost you between $1500 to $4000, and even if you want to build some advanced features on top of it, it will be another $1000 or $2000 and not more than that.
So, within your budget, you can launch your rental marketplace with readymade solutions.
Wrap up
The demand for flexible and cost-effective rental solutions is only growing.
Whether you’re focusing on vacation homes, vehicles, or equipment, your success lies in choosing the right niche and having the right features on your platform.
Now is the perfect time to turn your idea into reality. So, start building your rental marketplace today.
