In recent years, a number of Internet enabled peer-to-peer marketplaces have emerged such as Sharetoss.comto facilitate the short-term rental of durable assets. Assets like Home Furniture, Home Appliance, Car , Bikes, Gym Equipment’s , Cameras etc.

These are some examples of a much broader array of new platforms which facilitate market-based trade between private individuals for a variety of assets and services.

Such marketplaces differ from earlier Internet-based secondary marketplaces like eBay1 because they focus on facilitating recurring short-term rental or service provision rather than occasional resale under which asset ownership is transferred; peer-to-peer rental marketplaces thus alter the incentives to invest in assets that are traditionally a source of dedicated supply for one individual.

Trust, convenience and a sense of community are all factors in pushing adoption of the Peer to Peer Renting . Thanks to consumer willingness to try sites like Sharetoss.com, there are lower barriers to entry when it comes to building brands and scaling up quickly—the innovation clock is now set to fast-pace, and will get even faster as consumers become more trusting of relationships tied to social sentiment and communities of users.

As per Survey Conducted by PwC, of those consumers who have tried the Peer to Peer Renting or Shared Economy :

57%agree “I am intrigued by companies in the sharing economy but have some concerns about them”.

72% agree “I could see myself being a consumer in the sharing economy in the next two years”.

There’s one big potential sticking point: for the peer to peer renting to continue to expand, the individual within it will need to find ways to authenticate the identity of consumers. In a peer-to-peer model, the best method to authenticate the consumers is through government verified documents or social media profiles that can sometimes suffice instead. Identifying, and upholding, quality and trust metrics will be critical to success in this evolving model.