If Freecycle doesn’t have an item you need, there’s a new service available that may help you find that weed-whacker, or croquet set you’d like to rent right in your local community. San-Mateo, California-based startup Rentalic.com is a new online marketplace that provides a peer-to-peer rental platform. The company’s goal is to monetize underutilized assets in communities by creating an online rental service that benefits both the borrower and the owner.

The site offers free registration. Once registered, “owners” can list items or services to rent without a fee and pay 5% of the total rental fee post-transaction. Registered “borrowers” can freely search for items to rent and pay the “owner” directly through PayPal for items the “borrow.” The service is available to users worldwide.

The concept allows folks to get income from renting stuff they already own while providing those in search of an item a low cost alternative to purchasing something they may only use once – and it’s all local.