Are you ready to enter the modern age of rent to own management? Rental management can be extremely time-consuming for companies. With newer software programs your business can easily save time and money all through one platform, but how do you choose the right fit for your business?
What is Rent to Own?
A new wave of rent to own consumers has recently hit the market, but what is it? Renting to own allows people to make payments on tangible products, such as sheds, carports, real estate, etc., that can eventually be purchased at some point during the agreement. Renting to own is a great way for businesses to reach a larger consumer base, while encouraging buyers who wouldn’t usually consider making larger purchases to take this route toward ownership.
While many businesses are finding success in this market, it can be incredibly hard to efficiently manage contracts, customers, and goods without proper management software. Rent to own software aids businesses in cutting down on time wasted on excessive paperwork, redrafting contracts, and completing difficult payments.
What to Look for in a Rent to Own Management System
Determining what rent to own software is the best is easy to do when you consider what features are offered. Consider if the platform is easy to use, if it is hard to navigate you might lose time rather than streamlining contract management. Some key features that can help keep your business organized and efficient include:
- Credit Card Payments
- Custom add ons
- Customizable Dashboard
- Good Payment Features
- Electronic Signature
- Additional Software Integration
- Good Reporting Features
- Work Order Management
The list goes on, and your needs might vary based on your business model, but rest assured we can help you customize the perfect management software. The first step in switching to a modern management system is to do ample research on what features you will require. There are plenty of options out there no matter what you are renting.
What is ServicePad?
ServicePad aims to create extreme efficiency for rent to own management companies through a comprehensive cloud-based software that can store and manage contracts while minimizing human error. Whether your business manages sheds, gazebos, carports, and so on, ServicePad can easily be adapted to your business model, all while maintaining high data integrity.
ServicePad is proud to have a strong support team made up of passionate employees who wish to help your business become more efficient and effective in its sales. Through easy management processes we can assure you that your company will not only save time, but create a modern platform for your customers every need.
What are the Key Features?
ServicePad prides itself on its easy-to-use system with essential key features to help your business succeed. To streamline rent to own contract management, we have broken the process down into six simple steps.
Step One: Payment. The contract automatically generates secure online rent payments based on the rental length from 24–60 months. Step one also accounts for additional down payments and populates the sales tax based on customer location.
Step Two: Agreement details. The agreement portion of the contract is designed to be easy to fill out, highlighting the information needed from your customers. You can customize the fields based on your unique business needs. This portion includes the amount due at signing, payment dates, security deposit, and whatever else you wish to add.
Step Three: Renter information. Getting basic information from your customers is made easy in this portion of the contract. Necessary fields such as name, social security number, email, etc. are all easily accessible with the option of adding additional fields based on your company’s needs. Your customers will find this page to be easy to navigate, with highlighted sections acting as guides.
Step Four: Co-Renter information. If your customers need to add a second renter onto the contract, they can easily do it in step four, which has the same fields as the primary renters’ information.
Step Five: References. This step allows for customers to easily provide names and phone numbers for their references if they are a requirement for your rentals.
Step Six: Review the rent to own agreement, then e-sign. The final step generates a completed contract that dealers, renters, and management can review and approve. After approval is complete, renters can easily sign the contract through the e-signing capabilities offered by ServicePad. Upon signing, the agreement is automatically sent to manufacturers. If your renters are not yet ready to sign, or there cosigner is not present, you have the option of sending them a sign later form through email. This allows for a highly secure digital signature from all parties involved. Additionally, renters can autofill their signature onto all pages to streamline the signature process.
ServicePad also offers easy access to customer follow-ups on incomplete contracts, contracts pending signatures, adding and managing required documents in ServicePad, tracking the status of a contract in the review process, and archiving and retrieving closed contracts.
Seamless Integrations
ServicePad’s software puts everything you could need onto one platform that automates and allows for customization of your data, giving you reliable feedback on the health of your business. The software also allows for seamless integrations to further customize your business interface.
Simplified inventory management. A newer update to the system, as of quarter four 2022, includes easy management of response times to changes in inventory, keeping your business and inventory as up to date as possible. You can also manage pricing, autofill work orders, and improve communication on status updates to customers and dealers. Real-time inventory lets your customers know what is available, while removing the need for paper catalogs and long spreadsheets.
Integrative Abilities. Seamlessly integrate other software programs required for your business for superior communications between applications. ServicePad is already integrated with IdeaRoom, the portable building industry’s leading 3D design software, allowing your customers to get a great visual aid of the product they are renting. Lastly, ServicePad now offers integrated e-signing software, ensuring your customers’ security with quick contract completion.
Payment and Tax Integrations. Handles complicated parts of the payment process such as calculating location specific sales tax and receiving payments. Simple online rent collection with credit card payments makes the accounting side of your business much more manageable. This feature combines all components of the payment process into one simple space.
Easy to Use
If your business is new to using software management tools have no fear, ServicePad was designed to be used by everyone, for every business need. Unlike other management softwares, our platform is easy to navigate and manage. Remember, we are here to simplify your work life, not complicate it. Not only is it easy to use from the business end, but it is also designed to guide your customers through a step by step contract completion process. This eliminates excessive time wasted that could prevent customers from following through with deals.
What Makes ServicePad Great?
From helpful integrations to the easy six step contract process, the unique adaptability of ServicePad certainly makes it stand out as a great option for your rental management business. While other softwares require the use of multiple platforms, ServicePad allows you to combine all of your needs into one easy to use space.
ServicePad was designed for those who are looking for creative solutions to their management problems. Because of the passionate nature of those behind this innovative software, ServicePad is here for your company. Welcoming feedback and helping you save valuable time and money allows us to continue improving for you. Our team would love to be there through every step of the journey, from onboarding to customer service along the way. We are excited to continue improving the ServicePad software to better suit your needs.
If you are ready to create your company’s custom RTO contract, you can schedule a demo or get started immediately. If you have questions, our excellent team of support staff is here to help. For general inquiries, you can access our helpdesk or call us directly at (888) 618-1315.
ServicePad proudly supplies top of the market businesses like yours with high quality software. We look forward to providing your company with superior contracts and seamless management systems.
