If your business offers long-term and/or open-ended rentals, you’ll be interested to learn more about the new “Auto-Recurring Billing” feature from RentMy.co
Available now to qualified plans, RentMy clients can collect regular (scheduled) rental payments for any rental lasting longer than 1 week. And, if you offer open-ended rentals, RentMy will collect payment from your customer at the interval you choose.
Turn On Auto-Recurring Billing
To activate Auto-Recurring Billing for your rentals, visit the Business Settings > Settings page and select the ARB Integration billing style for your business (pre-pay for rentals at the beginning of each period, or post-pay for rentals at the end of each period).
Automating Fee Collection
Assume your customer is starting a project and needs to rent a roll-off dumpster. The customer doesn’t know how long she will need the equipment, but will let you know when she’s ready to return it.
Your customer can rent the dumpster and choose how often she will be billed for the rental (based on the settings you as the business offer). You can also select whether to collect the first rental payment right away or at the end of the first rental period (pre-paid or post-paid).
Your customer will checkout out as normal and will be billed per your settings. Each rental period will be billed, and any declined/failed payments are reflected in the Alerts area and in the Order page, allowing you to quickly address the missed payment.
Real-Time Rental Status
Open-ended rentals, by definition, don’t have a “firm” rental end date. Ordinarily, that would be difficult for less-powerful inventory management systems to manage. RentMy will keep the item out of stock until the instant you’re ready to offer it the next customer.
At a glance, you can view the status of the rental, the payment(s) collected to date and any high-priority alerts (like failed or declined payments from the customer).
RentMy makes it easy to grow your rental revenue with long-term & open-ended rentals.