How can I charge people if they don't return my product?
Question Details: I want to start a company where you can rent portable chargers for the day and then return them. However, if you don't return them they charge you. For the beginning, I would need to do this easily with just buying some chargers and having a store person watch them and rent them out. However, I'm not sure how to legally charge them if they don't bring it back in time. How can I legally hold them accountable and charge them if they don't bring it back on time?
1) Have they execute (sign) an agreement that states that if they do not return the charger, they are responsible for the full price (and indicate that price in the agreement). The agreement should also say they forfeit their deposit (see below) in the event of a non-return.
2) Before giving them the charger, get a deposit from them in an amount equal to the charger's cost. Return it if they return the charger.