System and method of facilitating lending and/or renting of items

A method according to any one of the preceding claims, wherein the software application enables the second user to define the predetermined geographical region of the second user.

A method according to any one of the preceding claims, wherein determining a match between the item requested to be listed by the first user with the particular item or the particular category of item included in the second user request includes determining that similarities between the first and second user requests satisfy a similarity threshold.

A method according to any one of the preceding claims, further including maintaining a status of the item, including whether the item is currently borrowed or rented, or alternatively, whether the item is currently available for borrowing or renting.

A method according to any one of the preceding claims wherein, in the event the first user lists an item for renting, the method further includes:

• prompting the first user to include one or more periods of time for which the item may be rented, and a rental fee.

A method according to any one of the preceding claims wherein, in the event the first user lists an item for lending, the method further includes:

• prompting the first user to include one or more periods of time for which the item may be borrowed, and wherein the item listing is automatically updated to confirm that no fee is payable to the first user for borrowing the item.

A method according to any one of the preceding claims, further including:

• based upon the second user selecting an item listing from the search results, wherein the item is available for rent, prompting the second user to confirm their intention to rent the item and to confirm the rental period in the event of multiple rental period options.

A method according to any one of the preceding claims, further including:

• based upon receiving confirmation from the second user regarding an intention to rent the item, prompting the second user to pay the rental fee, or a portion thereof, to the first user.

A method according to any one of the preceding claims, further including:

• prompting users to provide ratings in respect of other users including ratings of first users regarding the items they borrowed or rented and an extent to which the item matched a description provided in the item listing, and ratings of second users based upon timeliness of the return of items and/or as operating or visual appearance of items upon their return.

A method according to any one of the preceding claims, further including:

• recording data relating to the activity of users for the purpose of generating statistical data in relation to one or more of:
• items that users seek to borrow and/or rent most regularly, and
• items sought but for which requests are not able to be fulfilled by first users within a particular geographical region or regions.

A method according to any one of the preceding claims, further including:

• maintaining any search conducted by a second user active until such time that an item of interest is located, such that if a match is not immediately identified, the search will remain active and undergo automatic updates according to new items listed by first users;
• and
• notifying the second user seeking to borrow or rent an item of interest of matching newly listed item(s).

A method according to any one of the preceding claims, further including:

• generating one or more recommendations for first users listing items for rent, including recommendations regarding a suitable rental fee for the particular item being listed as compared with market value;
• and/or
• generating one or more recommendations for second users searching for items of interest, including recommendations regarding whether a listed rental fee is substantially commensurate with fees previously proposed by other first users in respect of the same or similar items.