I know what you’re thinking. ‘What do the highest earning lenders have in common? It must be their strict adherence to the tried and tested blueprint for rental success, the Five Lender Metrics!’ Well, I suppose that is true. ‘Altogether now…’
Fast Response Time
Borrowers expect answers quickly. The faster you respond, the more likely you are to guarantee a rental and attract more requests. This also includes leaving reviews for borrowers in a timely manner.
Repeat Use and Referrals
If borrowers rent from you more than once, this demonstrates that you’re delivering an excellent service and customer experience: we’ll send more requests your way.
High Enquiry-to-Request Ratio
Engaging in conversations with borrowers, offering further details and helpful advice will help you convert more inquiries into requests, which improves the performance of your listings in borrower search.
Promote Your Brand
Our algorithm tracks lender visibility both on and off-platform. Improve this by sharing your listings and lender profile page via social media and instant messengers.
Our algorithm takes into account the number of people signing up each week with your individual referral code. Sharing your code on social media can significantly boost your referral bonus.
OK. Here’s The Secret
Indeed, you’d be correct in thinking that Fat Lama’s top lenders take this stuff seriously. But there’s one thing which separates them from the rest of the pack. Here goes:
The top five earners on Fat Lama have currently listed an average of 39.6 items.
There you have it. That’s more than twice as many items as the average count of the next fifty lenders.
It’s obvious, really. More stuff = more rentals = higher income.
What if you ‘don’t have anything to lend’? You do! You might just be surprised at what gets searched for and borrowed on the platform. Fancy dress, bikes, kids toys, spare phones and laptops, coolboxes and tents. If you’ve got any or all of these items currently occupying prime storage space, then make them worth their while!