Marketplace for exchange/rentals

I always wanted a marketplace where I can rent stuff either for free or for discount price (when compared to selling price of the actual article). I am sure many people encounter use cases on a daily/weekly basis where they want to rent stuff.

Having a marketplace where people list what they can lease out would obviously be beneficial. But, when it comes to renting stuff, I would like to rent/lease stuff from/to someone in my neighborhood (or someone who stays around where I stay). The use cases people frequently encounter involve house hold things like waffle iron, or vacation stuff like ski equipment, and I don’t know to show listings in California to someone in New York.

A marketplace for rentals/exchange should have atleast the following features:

1. Show users what’s available around you.

2. Allow users to create triggers “e.g. notify me when someone is leasing out ski rentals”

3. System should protect users from getting their things stolen.

4. Some kind of reputation building which helps the system in doing [3].

5. Basic auctioning, that helps when someone is leasing out something that is needed by many(e.g. ski rentals during winter). Auction/bidding is the best way to decide who the buyer/leaser should be.