RelayRides is a person-to-person carsharing organization similar to ZipCar but with a difference: the cars are owned by private individuals. Once a car is registered with RelayRides, an insurance policy is established for rental periods and a mechanic installs a device into the privately owned car that allows authorized renters to access it without a key hand-off. Car owners set the rental price and establish availability and pickup options.

The person-to-person carsharing service screens car renters’ diving records and guarantees against loss. Car owners can also score renters after car use. RelayRides claims that car owners can earn up to $8K annually by renting their cars for 20 hours or about 400 miles per week. The scheme is a positive for both car owner and renter as well as the environment.

RelayRides has launched in Baltimore, Maryland and hopes to expand its model throughout the U.S.