I am living at a Hostel in San Francisco, CA. I started to rent a few bicycles out to guests residing there from the basement, and making a pretty good profit. As a tenant, do I necessarily need to obtain a business license, or permit for me to do this, because I post my Bikes on the public street for any one wanting to rent a bike from me. Am I doing anything that is illegal at this point? Any quick inquiries would suffice, and please either post here
I need to have the answers to this problem either way. Also, there is no insurance, no liability, no 1099 forms, absolutely no coverage of any kind. Thank you for whatever you can tell me.
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I don't think you need any national permits, but you need to check with your state and local governments.
It's a good idea for your own protection to at least have them sign a waiver of liability, and consider taking out an insurance policy to cover yourself and your customers.
You will likely need to register as a business with your city or county government. Read over the IRS' guide Business or Hobby? Answer Has Tax Implications, which will help you determine your tax obligations.
I agree with this, if one of your customers has an accident due to a poorlymaintainedbike you could find yourself staring down thebarrelof a nasty lawsuit. Either a waiver of liability or a solid insurance policy would be my choice, not least to set your mind at ease :)
revitol1 | Window Shopper | 11/17/2010 - 6:19 am
victoryeagle | Creator | 11/17/2010 - 12:07 pm
NicoleD | Former Moderator | 11/18/2010 - 9:55 am
Mansfield | Window Shopper | 11/20/2010 - 9:09 am
NicoleD | Former Moderator | 11/22/2010 - 9:51 am
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