Method and system enabling crowdsourced peer to peer product rental
A system and method for online peer-to-peer rental of things using crowdsourcing and selected groups of potential lenders. Individuals desiring to borrow a particular thing may search a listing of things offered for rental by lenders that have chosen to list for rental some of the things that they own. If a thing desired by one wishing to rent is not available among the things currently listed for rental, the borrower may request that potential lenders be contacted. Potential lenders may be identified using a collection of personal information for a population of consumers based on consumer purchase history information and consumer rental history information collected by the entity operating the peer-to-peer rental system.
1. A computer-implemented method of operating an online system, the method comprising:
forming a collection of information, stored in a database, identifying a plurality of product items submitted for rental by a plurality of lenders, the collection of information comprising a photograph of each of the plurality of product items and a geographic location of each lender in possession of each of the plurality of product items;
receiving, from a mobile device, a request to rent a particular product item and a geographical location of a borrower;
searching, by a processor, the database to identify one or more product items matching the particular product item within a distance threshold of the borrower, wherein the distance threshold is predetermined by the borrower, wherein if the particular product item is not found within the distance threshold predetermined by the borrower, the computer processing device is configured to increase the distance threshold until the particular product item is found or the distance threshold exceeds a maximum distance threshold;
receiving, from the mobile device, a request to communicate with one or more lenders of the particular product item;
determining, via a rental propensity model, a number of lenders to contact to evoke at least a certain minimum number of responses to a notification of a rental request, wherein the number of lenders is based on a min depth and a max depth, and wherein the min depth and the max depth are generated according to a ranking of users to respond to a previous notification;
sending, via a communication interface, a message to each of the number of lenders of the particular product item, the message comprising a notification of the request by the borrower to rent the particular product item; and
receiving an acceptance of the request to rent the particular product item from a lender of the number of lenders of the particular product item.
2. The method according to claim 1 , wherein the distance threshold relates to a distance that one or both of the respective user and the first user are willing to travel to one or both pick up and return the particular item.
3. The method according to claim 1 , wherein the request to rent a particular product item is based on a project identified by the borrower, and wherein an association between the project and the particular product is found in a purchase history of one or more of the plurality of lenders.
4. The method according to claim 1 , wherein the distance threshold is adjusted based on the number of product items in the collection that match the particular product item.
5. The method according to claim 1 , wherein the plurality of lenders are able to use the online system to resell product items.
6. The method according to claim 1 , wherein if it is determined that at least one product item in the collection matches the particular product item, the computing system is configured to send a count of how many product items in the collection matches the particular product item.
7. An online system, the system comprising:
a memory device with computer-readable program code stored thereon, and at least one processor communicatively coupled to a display device, the at least one processor being operable to, at least:
store a collection of information in a database identifying a plurality of product items submitted for rental by a plurality of lenders, the collection of information comprising a photograph of each of the plurality of product items and a geographic location of each lender in possession of each of the plurality of product items;
receive, from a mobile device, a request to rent a particular product item and a geographical location of a borrower;
search the database to identify one or more product items matching the particular product item within a distance threshold of borrower, wherein the distance threshold is predetermined by the borrower, wherein if the particular product item is not found within the distance threshold predetermined by the borrower, the computer processing device is configured to increase the distance threshold until the particular product item is found or the distance threshold exceeds a maximum distance threshold;
receive, from the mobile device, a request to communicate with one or more lenders of the particular product item;
determine, via a rental propensity model, a number of lenders to contact to evoke at least a certain minimum number of responses to a notification of a rental request, wherein the number of lenders is based on a min depth and a max depth, and wherein the min depth and the max depth are generated according to a ranking of users to respond to a previous notification;
send, via a communication interface, a message to each of the number of lenders of the particular product item, the message comprising a notification of the request by the borrower to rent the particular product item; and
receive an acceptance of the request to rent the particular product item from a lender of the one or more number of lenders of the particular product item.
8. The system according to claim 7 , wherein the distance threshold relates to a distance that one or both of the respective user and the first user are willing to travel to one or both pick up and return the particular item.
9. The system according to claim 7 , wherein the request to rent a particular product item is based on a project identified by the borrower, and wherein an association between the project and the particular product is found in a purchase history of one or more of the plurality of lenders.
10. The system according to claim 7 , wherein the distance threshold is adjusted based on the number of product items in the collection that match the particular product item.
11. The system according to claim 7 , wherein the plurality of lenders are able to use the online system to resell product items.
12. The system according to claim 7 , wherein if it is determined that at least one product item in the collection matches the particular product item, the computing system is configured to send a count of how many product items in the collection matches the particular product item.
13. A non-transitory computer-readable medium having a plurality of code sections, each code section comprising a plurality of instructions executable by one or more processors to perform actions supporting crowdsourced peer to peer rental of products items among a plurality of users, wherein the actions of the one or more processors comprise:
forming a collection of information, stored in a database, identifying a plurality of product items submitted for rental by a plurality of lenders, the collection of information comprising a photograph of each of the plurality of product items and a geographic location of each lender in possession of each of the plurality of product items;
receiving, from a mobile device, a request to rent a particular product item and a geographical location of a borrower;
searching the database to identify one or more product items matching the particular product item within a distance threshold of the borrower, wherein the distance threshold is predetermined by_the borrower, wherein if the particular product item is not found within the distance threshold predetermined by the borrower, the computer processing device is configured to increase the distance threshold until the particular product item is found or the distance threshold exceeds a maximum distance threshold;
receiving, from the mobile device, a request to communicate with one or more lenders of the particular product item;
determining, via a rental propensity model, a number of lenders to contact to evoke at least a certain minimum number of responses to a notification of a rental request, wherein the number of lenders is based on a min depth and a max depth, and wherein the min depth and the max depth are generated according to a ranking of users to respond to a previous notification;
sending, via a communication interface, a message to each of the number of lenders of the particular product item, the message comprising a notification of the request by the borrower to rent the particular product item; and
receiving an acceptance of the request to rent the particular product item from a lender of the number of lenders of the particular product item.
14. The non-transitory computer-readable medium according to claim 13 , wherein the distance threshold relates to a distance that one or both of the respective user and the first user are willing to travel to one or both pick up and return the particular item.
15. The non-transitory computer-readable medium according to claim 13 , wherein the request to rent a particular product item is based on a project, identified by the borrower, and wherein an association between the project and the particular product is found in a purchase history of one or more of the plurality of lenders.
16. The non-transitory computer-readable medium according to claim 13 , wherein the distance threshold is adjusted based on the number of product items in the collection that match the particular product item.
17. The non-transitory computer-readable medium according to claim 13 , wherein the plurality of lenders are able to use the online system to product items.
18. The non-transitory computer-readable medium according to claim 13 , wherein if it is determined that at least one product item in the collection matches the particular product item, the computing system is configured to send a count of how many product items in the collection matches the particular product item.