Snapgoods Is A Grassroots Borrowing Business allows you to rent someone else’s stuff without the awkwardness of asking strangers. Naturally, there’s a transaction involved, but the bottom line is you get to rent stuff that’s not yours for a day at a flat rate of $5. The fees crawl slightly upward when pricier items are involved.

A novel idea currently localized to New York, Snapgoods encourages its customers to experience more from life by letting them rent stuff they don’t own like borrowing a trampoline for a party in the suburbs or an exercise machine you want to try out.

For the sake of the lenders making their stuff available, each transaction at Snapgoods ensures that the property involved is taken care of by the intended renter.

Those interested in the service must first be involved with a localized network of people in your neighborhood. And by ‘network’, it means the whole spectrum of social and mobile networking, from SMS to Facebook. The logic behind this is that rather than use stuff from folks far away, just get stuff from people you will meet face-to-face and let them keep tab of their precious property.

What happens next is after reserving the gear/machine/doomsdaydevice, you pay up front then make a security deposit via PayPal. After that, you will finally get your paws on the stuff thru a meet at a Snapgoods-affiliated business. Having indulged your enthusiasm, you now return it in person or thru a drop off escrow point. For feedback, a rating function is available on the site as part of Snapgood’s earnest efforts at building a reliable ‘access economy.’

In case the transaction goes sour—as in the stuff gets either broken or damaged—Snapgoods won’t guarantee insurance but will fork out the previously mentioned security deposit at PayPal to the aggrieved party. Being a small sum at best, especially for an expensive item, the security deposit does provide some reparation in case worst comes to worst. That said, Snapgoods might be going into some form of insurance soon.

For those living far away and have long-coveted their neighbor’s Kinect or iPad, fear not as Snapgoods has its sights on expanding operations beyond its hometown.

via CrunchGear