How to increase profits using car rental booking software?

Rental business refers to leasing out your vehicles to someone for a charge. The vehicles can be either purchased by the rental owner or hired from others for a charge. Car rental can be for a day or for a period namely a week or even a month depending on the requirement of the customer.

How to increase profits using car rental booking software?

The first and foremost step of car rental business is having a car rental booking system. The customer needs to make a reservation for the vehicle he requires and for the stipulated period. The customer can choose from the list of vehicles on the website and decide. The software on booking confirms the reservation and sends the confirmation to the customer with the estimated price for the rental period.

Car rental booking system also has the GPRS tracking facility which helps the customers identify the driver who would be driving the car and also track the driver. The driver, in turn, can track the customer’s location.

The car rental booking system should also capture customer details. In the case of repetitive customers, it becomes irritating for the customer if he has to wait for long hours to get the basic data entered again and again. If the customer data is captured correctly the rental owner can just retrieve the customer data and fill in the necessary fields required.

Any previous transaction with the same customer can be retrieved. This helps in the making of recurring invoices.

Along with the above, the car rental booking system should also have features like document management wherein all the relevant documents pertaining to the rental transaction are stored. The accounting feature helps in maintaining and tracking and recording cash payments and receipts. No entries are missed and the manual errors are minimised. The rental owner is able to identify his true cash position and his financial standing in the business is easily identified.

Moiboo car rental booking software helps in managing the bookings, handling customer database and sends alerts to the customers through SMS/Emails. The main details that should be accurate in the rental software are the maintenance of accurate postal codes. Moiboo software is a very easy and user-friendly software which even a lame person can use. The software should be able to help in the various facilities offered by rental agencies like short term rentals, long term rentals, various types of insurance and towing services.

The features of the Moiboo car rental booking software are

Recurring invoices

In the case of long term bookings mainly for corporates it so happens that the contract gets renewed, in these case recurring invoices are to be raised for the customer. Automatic reminders are also set for the payment due dates this ensures that no payments are missed.

Invoices

After every transaction, the invoices are to be raised. This can be created from the templates that are customised for the rental uses or templates can be created based on the requirements. The invoices need not be hand-delivered they can be sent through SMS/WhatsApp which helps in saving both time and paper.

Vehicle management

Rental vehicles need to be maintained properly so that the customer does not have any issues of downtime or breakdowns during his travel. Maintenance due dates are mentioned in the software and the rental owner is reminded when the dates become due.

Vendor management

The software has an effective customer database management system. The details of the customer are updated so that when the next time the customer visits he does not have to wait to keep entering his information again and again. This leads to customer satisfaction.

Document management

All the relevant information relating to the transaction are updated in one place. The history of the previous rentals of the customer can be easily recalled.

Mobile App

The business can be accessed from anywhere by the rental owner with the Mobile App.

Accounting

The financial position of the business is found out using the accounting feature, the rental owner can get reports which can help him plan his expenses and also analyse areas where he can reduce costs.

Digital agreement

Rental business involves a contract between two parties especially for long term rentals from corporates. It is a proof for the transaction. These agreements can be prepared digitally which saves both time and paper.

Fleet management

Fleet management is an important task in the rental business. The rental owner cannot maintain this manually. He needs to know which vehicle is available for rental and which has been let out. This is available in the dashboard of the software which makes it easy for the rental owner to manage his business.

Conclusion

Moiboo software has all the features that are required to run a rental business successfully.

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