Launch of Private Owner Income Guarantee
Sydney, Oct 15, 2018 AEST (ABN Newswire) - Collaborate Corporation Limited (
ASX:CL8) (Collaborate or the Company) is pleased to announce that its DriveMyCar business unit has launched a guaranteed rental income offer for private vehicle owners.
DriveMyCar has years of insights gained from working with top earning owners to understand how they have maximised their earnings from renting out their under-utillised vehicles. DriveMyCar has identified the key elements of availability, price, location, promotion and responsiveness that ensure higher income potential for the vehicles in its fleet. DriveMyCar has also received feedback from commercial vehicle owners that the DriveMyCar platform has delivered higher income returns on their vehicles when compared to other alternatives.
Private vehicle owners who list their car on DriveMyCar and meet the eligibility criteria will receive guaranteed income of $2,500 per annum. DriveMyCar believes that the rental income guarantee will provide greater confidence for private vehicle owners to list their vehicles for rent in the DriveMyCar fleet. The income guarantee terms will also incentivise vehicle owners to make their vehicles available and accept bookings in order to qualify for the guarantee - thereby increasing the overall availability of vehicles in the DriveMyCar fleet.
Chris Noone, Collaborate CEO, commented "We know what makes a vehicle attractive to renters and our guaranteed rental income offer demonstrates the confidence we have in delivering a great financial return for private vehicle owners. We are so confident of our platform that we have created the most generous offer in the market."
DriveMyCar is also pleased to confirm that further to the ASX release of 8 October 2018 announcing the Cricks Tweed launch, the first batch of vehicles are now available for rental in the Tweed Heads/Coolangatta and Gold Coast regions.
About Collaborate Corporation Ltd
Collaborate Corporation Limited is listed on the Australian Securities Exchange (ASX:CL8). It is Australia's leading listed company focused on 'collaborative consumption', 'peer-to-peer' or 'sharing economy' businesses. Collaborate currently has three core business segments: www.DriveMyCar.com.au Australia's leading peer-to-peer car rental business; www.MyCaravan.com.au Australia's leading peer-to-peer caravan rental business; and www.Mobilise.com an online hire marketplace to unlock the enormous potential of under-utilised assets. Through our proprietary trust and reputation platform, www.peerpass.com.au we create 'trust' between individuals and make it possible for people to safely transact with each other in the sharing economy.
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