Don't Invest. Rent for Less. NoWanda: The "EBay" of the Rental Marketplace is Here

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New innovative way to save money or make money and be green.

That how I came up with the name

Wall Street has collapsed. Families are losing their homes. And many Americans say they are worried about how they will continue to feed their families. The recent economic downturn resulted in a drop in consumer spending of 1.2 percent in November--the largest drop since August 2005.

Chicago-based provides a way for Americans to make money and save money in this turbulent economy. The company features a new website that gives consumers the opportunity to rent items found in their own home and larger companies a worldwide platform to show their wares.

The company is the brainchild of Jonathan Lee, Eric Twilegar and Benjamin Maher who watched as the economy slowed and people began spending less.

"The new trend is 'don't buy,'" Lee said. "Our motto is, 'Don't invest. Rent for less.'"

Owners and renters can set up a free account by filling out a one-page registration form in order to list their items.

"Our company is geared for owners to make money and for renters to save money. While rental companies can easily upload and maintain a catalog of their rental inventory on our site, individuals can simply post their consumer goods to on an as-needed basis," said Jonathan Lee, creator of "Both corporations and individuals will benefit from advertising that draws potential customers to our centralized site."

Owners can rent using one of these simple methods:

1.    Owners set a fixed rental fee. Renters accept that price for immediate rental.
2.    Owners set a fee. Renters counter with their best rental offer amount. Owners have 48 hours to accept or decline the proposed rental fee.
3.    Owners set a confidential range of rental fees they are willing to accept. Renters make an offer, which the NoWanda system will immediately accept or decline based on whether or not it falls within the range established by the owner.

Lee hopes that some people will be able to establish their own "rental business using the website. And with economists predicting unemployment to jump to between seven and eight percent in the next year, jobs will be scarce.

"We want to create jobs for Americans that will enable them to own a business through our website," Lee said. "We want to create new opportunities for people to make money and in turn, help the economy." is a green company and encourages recycling of old items rather than throwing them away. According to the U.S. Environmental Protection Agency, 246 million tons of waste ended up in landfills across the country in 2005, the last year for which statistics are available. That included household items that could have been rented or recycled.

"In today's world of rising energy costs, increasing pollution, and global warming, we at NoWanda take our role in the corporate universe very seriously," Lee said. "We know companies and consumers are seeking innovative ways to 'reduce, reuse, and recycle,' and our mission is to facilitate this process while providing a winning business model for everyone involved.'

For Lee, the concept of renting goods and not throwing them away while making extra money is "no wonder!"

"That how I came up with the name "NoWanda," Lee said. "As I was thinking about this concept, it was 'no wonder' to me that this would work."

About was created by Jonathan Lee, Eric Twilegar and Benjamin Maher in February 2008. NoWanda's customers are anyone who has something to rent: neighbors that want to rent their bikes, store owners that rent moving trailers and businesses that rent boats and planes all over the world. For more information, visit


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