Hi! We've set up a free bike rental outfit here in Wellington nz, and are starting another one down in Invercargill. It's been a fun spin off of Mechanical Tempest, our bike collective. We've got a fleet of about 8 bikes, that anyone can rent for a week (up to a month if you really want), that comes with a helmet, lights and a combo lock (that also has a key that we keep just in case).  

We did a lightweight crowdfunding campaign to raise about a grand - https://www.pledgeme.co.nz/projects/1688

Here's the Wellington Wünderbike site (which I'd like to redo at some point)

Here's the code of honour that potential members agree to. 

The membership form

I've also made a little open source app for tracking rental status of the bikes (so we can check and see if a bike is available without going down to where we store them). Here's an example of it, and here's the code. I'd love to build more features into it at some stage for member authentication, uploading pictures and descriptions of the bikes and a calendar system where people could reserve the bikes.

It's been a great experience that has support of local council. Good luck and let me know if we can help at all!

Cheers,
Jesse