".. great concept .."
We act as a neutral holder of the deposit on the bike that you are renting (the value of this varies depending on the bike). It is there as security for the bike owner, and security for the bike rider. If you stole the bike, we would pay this money to the bike owner. Similarly, if you found the bike wasn't up to standard, you could get your money back. You can also choose to leave the deposit in Byke to save having to make a payment next time (in some countries this is the only option).
No, your money is returned in full, after the bike owner has received the bike back. We only charge you the listed price of the bike rental. When you choose to leave your money in Byke, it is refundable within 60 days.
You are responsible for returning the bike in the same condition, or paying for any fixes to the bike.
We can help arbitrate in these cases.
Each bike has an optional safety record entered by the bike owner. You are best to read this and then make a decision based on what you read, but we would recommend only renting a bike that has been serviced by a professional recently. You are also best to be vigilant on arrival when seeing the bike. If you feel the bike is unfit to ride, please report it to us, and we will refund the deposit and rental amount.
We generally advise to have a meeting place in public, if you have time to meet, or perhaps use an impersonal method to hand over the bike. For example provide the lock combination or a unique place to find the key for the bike in the collection notes, which is only visible after the deposit has been paid. Because you must be satisfied that the bike and key are returned before the deposit is refunded, this is safe to do. Afterwards you may like to change the combination or location of the key.
That is entirely up to you, but we recommend about 4X the price of a bus fare in your local area. You take 75% of the gross earnings of the rental.
We aim to provide a competitive price for consumers to make this a viable alternative to other modes of transport. It is possible that you can book multiple people in for one day, if they only have partial use for that day, but they still have to pay for the day's travel. If you see it as an investment, why not rent out more than one bike? In general, this is a good-will gesture to help save the planet, and people's pockets, and your bike is sitting there unutilized, so why not earn a little from it!