The all-new Monthly Rental Management Option from MyRent makes it easier than ever to manage and charge for your Car Rental.
Monthly Rental for Car Rental owners became headache but… Good News: You have clients who want to rent and pay on a monthly basis! And if you find managing those monthly rentals easy, that’s amazing. But for many business owners, managing many monthly rentals from many clients can be a real challenge. You can easily lose track of: Who paid what? When did they pay? For how many days they have paid? Did they use cash or credit? Even worse, you can hurt client relationships if you’re not on top of things and ask the wrong questions.
To tackle these challenges, MyRent designed a new function inside the rental agreement. It gives you greater control over managing every monthly rental you make, in whichever form your clients prefer to pay.
What Is Monthly Rental?
Simply put, it’s an option inside the MyRent Rental that allows Car Rentals to enable monthly rental and choose a number of days. Also, apply the monthly rental rate that you will create in the rate module and extend rental agreement whenever you will want.
What Is Not Monthly Rental?
Monthly Rental simply is not long term rental. There is more flexibility for your client in terms of duration. With long term rental the customer got the right (and the duty as well) to hold the vehicle for 24-36-48-60 months. Instead, in the case of Monthly rental agreement, the rental is renewed every month so you have more control and power if the customer will not pay you.
Where is the Monthly Rental in Myrent?
It’s already live in your account! You will find it inside the rental agreement details, just below the vehicle return section as an option. The screenshot below shows where exactly it is:
What can I do with Monthly Rental?
You’ll be able to create, edit, apply the monthly rate, and extend Rental, so you can give more flexibility to your clients. Keep in mind that in general monthly rental rate is higher than long-term rental rate.
The monthly rental breaks down into:
- Create a monthly rental
- Charge the monthly fee
- Billl the monthly fee
- Sign the new rental (with OTP One Time Password signatures for the rental renewal)
- Collect all the documentation and be ready for the next cycle
How Can I Find a Specific Agreement?
MyRent also makes it easy to filter through rental agreements. You can use filters to find a specific rental, sort by plate number, or find a particular client’s monthly rental history. Easily filter by:
- Start and End date – as well as the created date of R.A.
- Location – where is the monthly rental associated
- Driver or/and customer name
- Plate Number / Vehicle
What Else Monthly Rental Can Help My Car Rental With?
Monthly Rental apart from automating manual entries and flexibility, also is linked with Revenue and Cost Report and Invoices. It is helpful way to find out how your business is going on as well as check the invoices in a faster way.
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