Rental Policy


This Rental Policy is to be considered in conjunction with our Privacy Policy, Prohibited Items and Terms of Use. Any agents, employees, attorneys, or anyone else acting on behalf of a Member must follow the terms of this Rental Policy and all other Rent Tycoons Policies. Terms that are not defined herein shall have the same meaning as set forth in the Terms of Use.

Description Of The Rental Items

Any Member may post a Rental Item on the Rent Tycoons’ website at no cost. A “Rental Item” describes an object, product or good (an “Item”) to be offered for rent. A Rental Item can only include the words, documents and images which the positing Member decides to put online. Members are responsible for their Content, especially with regards to any intellectual property claims which might be made by a third party. All the objects, products, goods, and services must be placed in the appropriate category. Any Member, including you, who posts a Rental Item (an “Owner”) is solely responsible for ensuring proper categories for their rental items. Placement of a Rental Item in a particular category by an Owner can in no instance be interpreted as a guarantee on Rent Tycoons’ part regarding the origin and authenticity of said Rental Item.

An Owner must have either all ownership rights to, or all rights allowing them to rent, the Item on their Rental Item.

Any material terms and conditions of a Rental Item, including, but not limited to, cost of rental, security deposit, delivery, maintenance fees, or any additional fees, representations or warranties must be clearly indicated in the Rental Item. Further, if any Rental Agreement is to be proposed by the Owner it must be attached to the Rental Item.

While the Rental Item will include the Owner’s city and state, an Owner shall make no mention of its Personal Contact Information anywhere on the Rental Item. “Personal Contact Information” shall include, but is not limited to, the physical location of the listed Item, the Owner’s physical address, fax, telephone number, mailing address email address, or any other way to contact the Owner outside of the Rent Tycoons’ interface.

Non-Rentable Objects And Goods

You agree that any Items that you offer for rent in a Rental Item are:

  •         only objects and goods that are part of regular market commerce;
  •         authorized under local Singapore laws to be held, used, and leased;
  •         free of defects that would put persons or other property in danger;
  •         not counter to the public good or unethical; or
  •         not on Rent Tycoons’ list of Prohibited Items.

The responsibility lies with Owner to ensure that the Items he or she offers for rent are legal, authorized and not forbidden. In cases where illegal products are offered for rent, penal and/or civil responsibilities may be incurred. Any Member who becomes aware of a rental offer that involves forbidden goods agree to contact Rent Tycoons immediately via email at contact@renttycoons.com. Rent Tycoons reserves the right to remove from its website any listings which are against the law, and/or contrary to its principles and morals. Rent Tycoons also reserves the right to ban the Member who posted said offer.

Proposed Renter's Obligations

Any Member, or you, who wish to reserve a Rental Item (the “Proposed Renter”) agrees that he or she will review the Rental Item in its entirety, including any proposed Rental Agreement, before making any reservation. The Proposed Renter has to follow the terms and conditions set forth in the Rental Agreement specified in the Rent Tycoons’ e-contract. 

No Exchange Of Contact Information

Once a Rental Item is listed, and before payment is made to Rent Tycoons for reserving the Rental Item, the Owner and Proposed Renter should not share their identities or Personal Contact Information for any reason (via the Rent Tycoons’ interface or otherwise).

Method of Payment

Renter can make his/her payment to Rent Tycoons to reserve the Rental Item via three ways:

  1. Internet or ATM Bank Transfer. Renter can manually transfer the rental fee & refundable deposit via internet or ATM bank transfer and then submit the bank payment information (internet transaction reference number or ATM transaction number) in the payment page of RentTycoons.com
  2. PayPal. Renter can use his/her PayPal to make payment of the rental fee & the refundable deposit. There will be PayPal fee of (4.4% + $0.5) for the total amount paid through PayPal. Renter does not need to submit the payment information anymore in RentTycoons.com. The information is automatically captured by Rent Tycoons' payment system.
  3. Credit CardRenter can use his/her Credit Card (Master/Visa/American Express) to make payment of the rental fee & the refundable deposit via PayPal payment gateway. There will be PayPal fee of (4.4% + $0.5) for the total amount paid through PayPal payment gateway. Renter does not need to submit the payment information anymore in RentTycoons.com. The information is automatically captured by Rent Tycoons' payment system.

Security Code

When a Renter has made his/her payment to Rent Tycoons to reserve the Rental Item, the Renter will receive a unique security code (the “Security Code”) from Rent Tycoons. Upon Rent Tycoons’ receipt of the Security Code, Rent Tycoons will authorize the release the agreed upon rental fee and any deposit from the Rent Tycoons’ PayPal account into the Owner’s PayPal account (less the Success Fee described below). RENTER ACKNOWLEDGES THAT THE SECURITY CODE PERMITS THE RELEASE OF THE AGREED UPON RENTAL FEE AND DEPOSIT (IF ANY) FROM RENT TYCOONS’ PAYPAL ACCOUNT AND WILL KEEP THE SECURITY CODE PRIVATE AND IN A SAFE PLACE UNTIL RENTER IS READY FOR SUCH FUNDS TO BE RELEASED TO THE OWNER’S PAYPAL ACCOUNT.

Success Fee

Upon the successful receipt of a Security Code, Rent Tycoons will receive a “Success Fee” equal to 20% (effective from 1st March 2016) of the total rental charge. The Success Fee will be deducted from the funds transferred from the Rent Tycoons’ PayPal account to the Owner’s PayPal account.

SUBJECT TO THE TERMS AND CONDITIONS HEREIN, THE PAYMENT OF THE SUCCESS FEE WILL BE CONSIDERED FINAL AND NON-REFUNDABLE ONCE THE SECURITY CODE HAS BEEN PROCESSED BY RENT TYCOONS AND THE AUTHORIZED FUNDS HAVE BEEN SUCCESSFULLY TRANSFERRED TO THE OWNER. 

Disclaimers

YOU AGREE THAT RENT TYCOONS IS NOT RESPONSIBLE FOR ANY “DOUBLE BOOKING” BY AN OWNER OR ANY LATE RETURN OF AN ITEM BY A RENTER. An Owner is responsible of the confirmed booking that has been made by a renter through Rent Tycoons. When there is a case of "DOUBLE BOOKING", the renter that first made the reservation and payment through Rent Tycoons is entitled to receive the item/service. 

As such Rent Tycoons highly recommends that Owners leave enough time between accepted Rental Requests to receive the Item back from the previous Renter.

YOU AGREE THAT RENT TYCOONS IS NOT RESPONSIBLE FOR THE CONDITION OF THE ITEMS POSTED IN A RENTAL ITEM OR ANY DAMAGES IN THE RENTAL ITEM. As such, Rent Tycoons highly recommends that the Proposed Renter inspects the Rental Item prior to giving the Security Code to the Owner and that the delivery of any Rental Item occurs in person.

You are encouraged to read the Disclaimers, Limited Liability, and Indemnification sections of our Terms of Use.

Rent Tycoons Is Not A Party to Any Rental Agreement

Rent Tycoons does not offer any rental services. The website is an online marketplace only, designed for the unique purpose of connecting people who want to rent things with people who have things to rent out. We never intervene in the transaction between the Renter and the Owner. Rent Tycoons cannot thus be considered part of the Rental Agreement between members of the website.

YOU AGREE THAT RENT TYCOONS EXERCISES NO CONTROL OVER THE QUALITY, SAFETY OR LEGALITY OF ITEMS LISTED, OR OVER THE TRUTHFULNESS OR ACCURACY OF THE RENTAL ITEMS, OR OVER THE ABILITY OF OWNERS TO RENT THE ITEMS LISTED OR OVER THE ABILITY OF THE RENTER TO RENT OR PAY FOR THE RENTAL OF ANY ITEMS. WE DO NOT GUARANTEE THAT THE PARTIES WILL COMPLETE ANY OR ALL TERMS OF THE TRANSACTION.

Any security deposits or guarantees required by the Owner in whatever form, remains the sole responsibility of the Renter and Owner. RENT TYCOONS IS NOT RESPONSIBLE FOR THE COLLECTION, RETENTION, OR REFUNDING OF ANY SECURITY DEPOSIT, FOR THE CONTROL OF THE EXACT IDENTITY OF THE OWNER AND THE RENTER, OR FOR COLLECTING MONEY OWED BY THE RENTER TO THE OWNER OR BY THE OWNER TO THE RENTER.

For the convenience of the Owner and Renter, Rent Tycoons has provided to the Owners and Renters, a Rental Agreement template (“e-contract”). This e-contract, depending on the type of rental, includes information about the transaction such as the security deposit terms, the length of the rental, the price of the rental as well as all other information often included in rental agreements.

Cancellation

Renter can only cancel a rental transaction before the start of the rental period. Please note that for rental transactions that involve delivery preparation such as (but not limited to) rental of tentages, flipcharts, tables and chairs, renter have to cancel the rental transaction three (3) days before the start of the rental period.

If the rental transaction is cancelled after the rental period commences, Rent Tycoons reserves the rights to reject the Renter's cancellation request and to refund only the amount for the security deposit.  

If the proposed rental transaction is cancelled by a Renter after an Owner has successfully claimed for rental income via using the Security Code, Rent Tycoons reserves the rights to reject the Renter's cancellation request and to refund only the amount for the security deposit.

If the Owner suspects bad faith or other abuse of the website by another Member, you can contact Rent Tycoons directly via the Contact Us or can otherwise leave feedback about the Renter.

Refund

For renter whom has made payment via PayPal and requested refund from Rent Tycoons, the total amount refunded from PayPal will be deducted 3.9% for domestic credit card and 4.4% for international credit card. The refund fee is charged by PayPal for using their payment gateway. For more information on PayPal fee, renter can check PayPal Policies

Remedies

All informal complaints must be submitted through Feedback Form. Rent Tycoons will do its best to attain an agreeable resolution in all disputes. Any formal disputes or claims shall be handled in accordance with our Terms of Use.

Fees & Tax

Members are solely liable for all the taxes, fees and commissions resulting from use of Our Services and Our Website. (See Terms of Use).

Taxes (such as, and without limitations, sales taxes) might be applicable to your transactions whether you are an individual or entity, or whether you are an Owner or a Renter. Members are encouraged to seek tax advice from a professional. (See Terms of Use).

Warranties And Limitation Of Liability

As set forth in the Terms of Use, Rent Tycoons is not responsible for any injury or loss that may occur during any rental transaction or usage of the Website or Services. You are encouraged to review the Disclaimer, Limited Liability, and Indemnity sections of the Terms of Use.

Proof Of Transactions

The computerized records kept within Rent Tycoons electronic data system, and maintained using reasonable security measures, will be considered as the sole proof of the communications, orders, amounts owed, and payments made between Rent Tycoons and the Members.

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