If you own high‑end camera gear—Sony A1, RED Komodo, Canon C300 Mark III—you already know it spends most of its life sitting in a pelican case. Turning that idle equipment into a passive income stream through peer‑to‑peer rental platforms like Fat Llama and KitSplit sounds tempting, but the real question is: which platform pays more after fees, insurance deductibles, and damage risks?
In this 2026 head‑to‑head, we break down every cost, coverage clause, and real owner payout so you can confidently list your gear and keep the maximum profit.
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📋 Table of Contents
- 1. Fat Llama vs KitSplit: Quick Overview
- 2. Fee Structures & Owner Payouts
- 3. Insurance & Damage Protection (The Fine Print)
- 4. Real Owner Earnings: $2,000 Lens Example
- 5. Payout Timelines & Payment Methods
- 6. Pros & Cons for Camera Owners
- 7. Which Platform Should You Choose?
- 8. Frequently Asked Questions
1. Fat Llama vs KitSplit: Quick Overview
Both platforms let you rent out cameras, lenses, drones, and other gear, but they serve slightly different audiences.
Fat Llama
General P2P RentalFat Llama is the "Airbnb for anything." It has a massive user base (over 1 million members) and covers everything from camera gear to tools, musical instruments, and even party supplies. Renters are often individuals looking for short‑term needs. The platform emphasizes trust through identity verification and a robust insurance program.
KitSplit
Creative‑FocusedKitSplit is built specifically for creative professionals—filmmakers, photographers, and content creators. It attracts a more professional renter base, often production companies or serious hobbyists. KitSplit offers flexible rental periods (by the day, week, or month) and includes specialized insurance options tailored to high‑value gear.
2. Fee Structures & Owner Payouts
Your take‑home pay depends heavily on platform fees. Here’s how they compare in 2026:
| Platform | Owner Fee | Renter Fee | Net Owner Payout (example $100 rental) |
|---|---|---|---|
| Fat Llama | 10% – 15% (sliding scale based on total earnings) | 5% – 10% service fee | ~$85 – $90 |
| KitSplit | 15% flat fee | No renter fee | $85 |
Fat Llama’s sliding scale rewards high‑volume owners: if you earn more than $5,000/year, your fee drops to 10%. KitSplit’s 15% is straightforward but they don’t charge renters, which can make your listing more attractive. Both platforms also offer optional promotional boosts (extra 5‑10% fee) for featured placement.
3. Insurance & Damage Protection (The Fine Print)
This is where most owners get tripped up. Both platforms advertise “$1 million insurance,” but coverage differs significantly.
🛡️ Fat Llama Insurance
- Coverage: Up to $1 million for damage/theft, but only for approved items (you must photograph serial numbers).
- Deductible: $500 per claim. If a $2,000 lens is damaged, you pay the first $500.
- Claims process: You must file within 48 hours, provide police report for theft, and wait 7–14 days for reimbursement.
- Exclusions: Cosmetic wear, water damage if not declared, and mysterious disappearance (lost items).
🎥 KitSplit Insurance
- Coverage: Up to $25,000 per item (higher limits available for professional plans).
- Deductible: $250 standard, but you can purchase a $0 deductible plan for an extra 2% fee per rental.
- Claims process: KitSplit handles claims directly with their partner (Thimble). Payouts typically in 5–7 business days.
- Specialty: Covers “mysterious disappearance” (up to 50% of value) and offers rental interruption coverage.
4. Real Owner Earnings: $2,000 Lens Example
Let’s assume you own a Sony 70‑200mm f/2.8 GM II (retail $2,800, used value $2,000). You rent it for 10 days per month at $70/day.
| Metric | Fat Llama | KitSplit |
|---|---|---|
| Monthly rental income (gross) | $700 | $700 |
| Platform fees | 10% – 15% (avg 12.5%) = $87.50 | 15% = $105 |
| Insurance deductible impact (if one claim/year) | $500 deductible / 12 = $41.67/month | $250 deductible / 12 = $20.83/month |
| Average monthly net (after fees & risk) | $570.83 | $574.17 |
Both platforms yield similar net income, but KitSplit’s lower deductible gives a slight edge. However, if you have zero claims, Fat Llama’s lower fees at high volume make it more profitable.
5. Payout Timelines & Payment Methods
Cash flow matters. Here’s how quickly you get paid:
- Fat Llama: Payouts are released 24 hours after the rental ends (to allow for damage reports). Standard bank transfer takes 2–3 business days. Instant payout (1% fee) available.
- KitSplit: Payouts are processed within 2 business days after rental completion, but funds may take 3–5 days to appear. No instant option.
6. Pros & Cons for Camera Owners
✅ Fat Llama Pros
- Larger audience, faster bookings for non‑pro gear
- Sliding fees reward regular lenders
- Built‑in messaging and verification
❌ Fat Llama Cons
- $500 deductible is steep
- Claims process can be slow
- Renter fees may discourage budget users
✅ KitSplit Pros
- Lower deductible & optional $0 deductible
- Specialized for creatives, better renter quality
- Covers mysterious disappearance
❌ KitSplit Cons
- Higher flat fee (15%)
- Smaller user base, fewer rentals in some regions
- Slower payouts
7. Which Platform Should You Choose?
Based on your goals:
- If you own a large inventory and rent frequently (50+ rentals/year): Fat Llama’s 10% fee after $5k earnings will save you money. Invest in a separate gear insurance policy to bypass the $500 deductible.
- If you own high‑value items ($5k+) and want maximum protection: KitSplit’s low deductible and specialized coverage are worth the 15% fee. Pay the extra 2% for $0 deductible for peace of mind.
- If you’re just testing the waters: List on both (cross‑posting is allowed) and see which generates more bookings in your area. Just mark your calendar as “blocked” when rented on the other platform.
📊 Annual Net Earnings Estimate (10 rentals/month, $70 avg rate)
$6,850
$6,890
*Assumes one $500 claim on Fat Llama, one $250 claim on KitSplit. Your results may vary.
8. Frequently Asked Questions
Final Verdict: Your Gear, Your Choice
Both Fat Llama and KitSplit can turn your idle camera gear into a lucrative side hustle. Fat Llama wins on fee flexibility and audience size; KitSplit wins on insurance terms and renter quality. For most camera owners, KitSplit’s lower deductible and creative‑focused community tip the scales—especially if you own gear worth more than $2,000.
Whichever you choose, always photograph your gear before each rental, require a security deposit, and communicate clearly with renters. A little diligence turns passive income into reliable, protected cash flow.