Real Estate Solutions

Rental Management Software Functionality

Rental management software should cover all aspects of a rental business in a systematic way including Financials (GL, AR and AP), Equipment Servicing, CRM and reporting functionality allowing rental businesses to achieve all their business analytics from within a single package. There are distinct industry requirements which need to be managed within the software, with Utilization one of the most important. These special features include:

• Reservations and Allocations management based on differing contract durations and customer requests.
• Dispatch/Pick-Up/Returns Process Management with the ability to manage partial dispatches and returns including asset tracking and signature capture on delivery / pick up.
• Accessories, Attachments & Kits including sale or return items such as Porta cabins.
• 'In Lieu of' or alternate items when equipment is not available as expected.
• Transport management including ordering in outside haulage and keeping track of revenue and cost against delivery vehicles.
• Product Exchanges and swap outs on live contracts
• Site Moves/ Drop Ship & Relocations within live contracts
• Contract Charging Profile determining when and how charging is generated including flexibility on excess hour’s charges, charging by hour / day / week / month etc.
• Product Service Units and clock hour recording and maintenance triggers
• Bill Processing for long term rental contracts on specific cycles (continuation or recurring invoicing), automated off-rent billing and additional charge management.

• Sale or Return of consumables that must be managed alongside rental products.
• Rent to Purchase or Rent to own agreements with pre-determined contracts to take ownership of assets at a specific point in the contract.
• Product Revenue Accruals to provide revenue forecasts for rental contracts not billed at month end.
• Product Utilization including Physical and Financial to be recorded.
• Stock Locations and tracking of equipment between locations including inter-branch or inter-store transfers, and for larger businesses inter-company transfers.
• Cash Customers/Contracts with cash drawer or till reconciliation and deposit management.
• Sub-Rent or Re-Rent management including the ability to initiate rentals from third parties to cover contract obligations.
• Product Service Inspection/Repair including the ability to trigger maintenance activity based on rental status, off-rent damage reports and clock hours or other service units.