KitSplit is a peer-to-peer rental marketplace for high-end photography and film equipment
Expected pay: You set it
Commissions & fees: 15% to 17% levied on owners; 6% charged to renters
Where: Select cities in the U.S.
Requirements: Over 18
Like ShareGrid, KitSplit is a marketplace where people who need high-end photography and film equipment can find people who are willing to rent it out. However, there are some significant differences that make KitSplit the less-attractive of the two platforms.
The first is that the site charges more to both owners and renters. The second is that ShareGrid covers your equipment to $20,000, no matter what happens to it. That’s included in the fees charged by the site.
KitSplit, on the other hand, has rental insurance that can be purchased, but it apparently does not cover you if someone simply steals your stuff.
The site’s terms say: …even though we have certain protections in place to maximize coverage for lost or damaged Gear, KitSplit typically will NOT cover a Renter’s fraud or failure to return rented Gear (called “voluntary parting” in the biz). You acknowledge that there is always a possibility of complete loss that may not be covered by … insurance. We strongly encourage Owners to separately purchase an insurance policy that covers theft and voluntarily parting for the Gear they post on KitSplit.
Is this an issue? Yes. In fact, one owner’s saga of losing $3,500 in equipment on a $70 rental became so notorious that KitSplit vowed to change its policy in mid-July. At that point the site launched an “owner guarantee” that promises to cover every rental to $20,000.
However, a review posted a month after this change complained of the same problem. Meanwhile the site’s terms contain conflicting messages — both the warning about uninsured losses and the site’s “owner guarantee,” which purportedly reimburses all losses. It’s unclear which term applies.
Notably, even the site’s owner guarantee has loopholes. The main one: a deductible that amounts to 20% of the equipment’s value. Given the higher commission rate and the less-attractive insurance coverage, we’d advise renters to use ShareGrid.
If ShareGrid does’t operate in your neighborhood, consider buying your own “voluntary parting” coverage before renting out equipment on KitSplit — or anywhere else.
What their users say:
You guys have clients. They’re having their equipment stolen. And in return you are offering no solution to how it can be fixed or solved. There are no investigations put forth into who the thief is, or getting the product back. And no steps are taken to make sure it doesn’t happen to others in the future. Instead, you try to silence honest and fair criticism of your company and its policies. It is pathetic and I truly hope no one else falls victim to your shady and untrustworthy rental service.
A colleague was renting his personal equipment through this business. Hours after the perp stole his stuff, he stole someone else’s equipment! You shouldn’t have to risk having your equipment taken under a third party negligence. So I rather not have anyone else take the chance with this business.
Not cool KitSplit. You guys are digging your own grave by consistently making false promises on your website. And, later telling gear owners that they are crap out of luck when a renter on your platform runs away with their gear. The least you could do is try to make things right with my friend Yohahn and all the other people who have lost their gear without having them to jump through hoops. Actually follow through with your new owner’s protection policy and make up for what was lost.