Mitigate risk associated with renting equipment by collecting a security deposit! If you require a security deposit on your quote or RentNow inventory, KWIPPED will hold the security deposit during the rental. Upon receiving your approval, we will refund the security deposit at the completion of the rental.
If you determine that some or all of the security deposit is required for damage to the equipment or other reasons in accordance with the rental agreement, we will transfer the funds to you.
High security deposits may make your quotes and RentNow listings less competitive on the KWIPPED marketplace. If you require a security deposit, we recommend a value equal to one month of rent or 10% of the equipment value.