Fat Llama is a site that claims you can earn by renting out anything to people in your area. It’s an attractive offer, I must admit.
But the question is, is it worth it?
Well, this Fat Llama review will answer that question and more. It will give you an honest look at what the site has to offer so you will know exactly what to expect from it before you even sign up.
Then, you can decide if Fat Llama is worth your time or not. So, let’s go ahead and check out this site, shall we?
What is Fat Llama, and what does it offer?
Fat Llama is a peer-to-peer rental marketplace that will let you earn by renting out anything to members of the site. And yes, it is a legit site since you can really earn by renting out any of your stuff.
However, this doesn’t necessarily mean the site is worth your time. To find out if you should join Fat Llama, you must first understand how it works. The only way to do that is to examine the earning opportunity it offers so you will have a clear idea of how much time and effort is needed to earn from it.
So, here’s how to earn from Fat Llama.
The earning opportunity – Creating a listing
To earn from Fat Llama, you must first create a listing of the items you want to rent out. It can be anything like a camera, surfboard, or basically, just anything you have lying around that is useful. I even found a reclining sofa for rent while I was testing the site.
After you sign up as a member, you’ll be asked to create a listing of your items. You’ll have to indicate the name of your item, upload a clear picture of it, select a relevant category, provide a detailed description of it, and set a price for it.
Once you’ve provided all the information, just hit “Submit” and the item should appear in the available items for rent in your area. Of course, for you to earn, someone should be interested in renting the item you listed. So, there’s no guarantee that you will ever earn from this opportunity.
If someone decides to rent your item, you’ll receive a notification from the site. The renter will first have to pay for it, and once the payment is made, they can claim it from you and return it after they are done.
Renters are fully responsible for a rented item whilst it's in their possession. In the event of theft, loss, confiscation, or damage, they are liable for the cost of rectifying the problem. Fat Llama has an Owner Guarantee that safeguards the item you rent out.
You can check it out here. This guarantee covers UK owners against non-return and damages for up to £25,000 per item. US owners are covered against non-return and damages for up to $30,000 USD per item. Canadian owners are covered against non-return and damages for up to $40,000 CAN per item.
As for the price of the item you list on Fat Llama, it will be up to you how much you are willing to rent out your item for. If the item is expensive, then naturally, the rental fee will also be quite high. However, before you list any item, I suggest you find out the going rate for that kind of item first so you will know what price to set.
You don’t want to set the price too high because it will discourage renters. You also don’t want to set the price too low because you won’t be earning a lot. In the next section, I will discuss how you will get paid.
Recommended: Check Out the Best Passive Income Apps
How do you get paid?
When you rent out an item, Fat Llama will send you the due amount within 24 hours of the start date of the rental period. The payment will be deposited directly to your bank account via Stripe and will normally hit your account about 3-4 working days after the start date of the rental.
Just take note that Fat Llama will charge a service fee of 25% for every rental, which, in my opinion, is quite high. However, this is to be expected because the site offere this service for free. They also have to make money to sustain their business.
When you get your first rental, Fat Llama will ask you to provide your bank details. If the volume of your owner earnings increases significantly, Stripe might ask you to verify your identity further. In that case, you’ll need to submit a photo of some documents that will contain any of the information shown in the photo below.
Overall, I would say the payment system of Fat Llama is relatively straightforward. Plus, you don’t need to hit a threshold to receive your earnings.
If you are interested in more sites that offer a convenient payment system, I recommend you also check out the top sites that pay via direct bank transfer.
How much money can you make?
As explained earlier, while the site’s opportunity sounds promising, in the end, there’s no guarantee you will earn from it. But if ever you get rentals, you stand to earn a decent amount even though the site has a high service fee.
Of course, it also depends on the type of item you are renting out. Overall, I would say the earning potential of Fat Llama is relatively decent, but only if you live in a big city because chances are there will be lots of potential renters.
What makes Fat Llama an attractive option, in my opinion, is that you have the chance to earn from something that you aren’t using anymore. You can just list your unused items and potentially earn from them. That is the true value this site offers, in my opinion.
Can you use it on mobile?
Another good thing about Fat Llama is that it has a mobile app you can download so that you can check if there are renters interested in your items, even if you are not in front of the computer. The app is available for both Android and iOS users.
The app is also user-friendly, so you won’t have a hard time getting used to it. It has all the features of the web-based dashboard, so you practically don’t need to sit in front of your computer just to check if there are renters interested in your items.
Who can join Fat Llama?
Fat Llama is only available in certain countries, namely the UK, US, Australia, France, Germany, Ireland, Italy, Portugal, Spain, and Canada. So, if you live somewhere else, then this site is not for you.
To sign up, you can use your Google or Facebook account. You can also use your email address.
Once you sign up, you’ll also be asked to provide your mobile number. Fat Llama needs this information because it will send you a verification code to complete your registration. After you finish this step, you can start creating your listing.
Can you get support?
If you have questions about the site or your account, you can check out the FAQ section of the website. It discusses most of the important topics you need to know about Fat Llama. But if you can’t find the answers you are looking for, you can just contact support instead.
You can do so by clicking the Chat icon at the lower right-hand corner of the FAQ page or the Chat button at the bottom of the page. You can also just send your inquiry via email by clicking the Send Us an Email button or emailing them directly at info@fatllama.com.
Overall, I would say the site provides decent support to its members since it offers several ways for you to get in touch with the support team.
Final Verdict
Fat Llama is a legit peer-to-peer rental marketplace that will allow you to earn by renting out your unused items. It has a couple of decent features, but it also has some limitations you need to consider.
Let me finish this review by summarizing its pros and cons to give you an overview of what the site has to offer. Then, you can decide if it is truly worth your time or not.
Pros:
- You can potentially earn from your unused items
- No payout threshold
- Offers a convenient payment method
Cons:
- Doesn’t offer guaranteed earnings
- Relatively high service fee
In my opinion, Fat Llama is a decent site to earn from. However, it is not for everyone. It is only suitable for people who live in large cities of countries where it is available because they have the highest chance of earning from rentals.
But if you live in a small town, then don’t expect to ever earn from it. I suggest you check out the best passive income apps instead if you want to earn passively.
But if you want to be proactive at earning extra cash, I recommend you check out the top survey and GPT sites in your country instead. The sites on this list all have good earning potential, so you will be able to earn a decent amount in no time.
Plus, you will definitely be able to find a site you can join regardless of where you live.
If you have any comments, questions, or experience with Fat Llama, I would love to hear from you in a comment below.
