In every type of industry there are always specific issues facing owners and agents. Today MoneyThumb would like to address issues facing equipment leasing agents and advice on how to deal with them. Here are the top four challenges rental companies face, along with tips and how to handle each issue:
1. Tracking Rental Equipment Availability
Managing bookings can be a major pain when you factor in equipment availability. And if you're still using an Excel spreadsheet, the margin for human error is inescapable—even for the most savvy rental agent. But in this great age of technology, there are now online booking systems which allow equipment leasing agents to say goodbye to spreadsheets and "hello" to streamlined inventory management.
SOLUTION: USE A BOOKING SYSTEM THAT--
- Automatically adjusts equipment availability in real time.
- Let's you view all upcoming reservations from one consolidated dashboard, and manage equipment inventory from one place.
- Allows you to check in, and check out all rental units. This makes it easy to track all inventory, gain visibility into which staff members check in and check out gear, and prevent theft and lost rental items.
2. Managing Complex Bookings & Pricing Models
Tracking bookings manually is tedious.. And chances are, as a leasing or rental agent , you're not just specializing in one type of rental or experience.
SOLUTION: USE AN ONLINE BOOKING SYSTEM THAT...
- Makes it easy to offer add-ons for rentals and leases
- Helps you create and manage complex rates and pricing structures
- Lets you set up and control different types of availability (hourly, daily, nightly) and block time between different rentals
3. Maintaining Equipment
In the world of equipment rental and leasing there is one very golden rule: Maintain your equipment. Having high-quality, clean, and cared-for equipment keeps guests safe, sets you apart from competitors, and adds authenticity to a customer's experience.
SOLUTION:
- Train your staff to know when gear has reached a state of not being suitable for renting.
- Make a daily checklist available to all of your staff, and hold them accountable for completing the maintenance checks.
- Use booking software that makes it simpler to reference when equipment was rented out, and how often it's been used. This will help you identify when specific pieces of equipment may be in need of a more thorough evaluation—or when they have run their course and are due to be replaced.
4. Delivering Amazing Customer Service
Perhaps the most important aspect of running a successful company: providing customers with a positive experience. Here are few quick tips every rental merchant can implement today to help ensure customer satisfaction.
SOLUTION:
- Make it easy for customers to understand all their different options, view your calendar availability in real time, and make a reservation 24/7 on your website.
- Ask for feedback: Always follow up with your customers after their experience. Their feedback will help your business improve—and if they were happy customers, this marks an opportune time to ask for referrals or reviews!
- Keep in touch: Invite customers to share images or video from their experience. This is one of the best ways to generate word-of-mouth enthusiasm for your business.
Though peak season presents its difficulties for rental and leasing equipment agents, implementing the four tips above can have you running better than ever.
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