Are you a carport or trailer dealer looking for ways to minimize the time to make a sale and the time you spend on paperwork for your business? ServicePad’s automated rent-to-own agreements may be the answer for you. Rent-to-own agreements can benefit all parties, allowing consumers to get the portable building they need when needed, even if they don’t have the funds to cover the total amount due upfront.
Read on to discover how ServicePad’s automated RTO contracts can help you capture sales in minutes.
Capture Sales in 5 Minutes or Less with 6 Easy Steps
Utilizing an automated RTO contract generation system allows carport and trailer dealers to complete agreements in record time. Once the dealer or renter has achieved the desired design in IdeaRoom, ServicePad’s chosen design software, the system will guide the dealer through the following steps to completing the agreement without error. Here are the six easy steps involved in RTO automation:
Step 1: Fill Out Payment Information
The rent-to-own term length options generate 24, 36, 48, and 60 months. The monthly payment for each is automatically displayed when selected. This is done by pulling information from IdeaRoom.
There is an option to input a purchase reserve amount to help reduce the overall price and monthly payments. Inputting this amount will automatically adjust the monthly payment amount in the contract. The tax will also automatically populate based on the dealer or renter’s location and the monthly rent amount.
Step 2: Complete Agreement Details
The agreement details are easy to complete, with fields customized to your company’s unique management process. These fields will determine the amount due to be collected from the renter.
There is a standard option to select the condition of the unit (whether it is new or pre-owned). The security deposit amount is automatically calculated at 10% of the overall amount. The renter can then select the day of the month, or payment date, that best works for them.
Step 3: Fill Out Renter Information
This step requires only a few pieces of information, such as the renter’s first and last name, phone number, email address, date of birth, social security number, and driver’s license number. The software also accepts visa and passport numbers. *Note: if the RTO company you are working with requires an address under the personal details, it is possible to add that field.
The renter’s delivery address information will then need to be entered, as well as an option to select whether the person completing the agreement is the owner or renter.
Step 4: Fill Out Co-Renter Information
If there is a co-renter, the information required will be the same as the type of personal details required by the renter.
Step 5: Provide Reference Information
During this step, you will provide the contact names and phone numbers for the renter’s references.
Step 6: Review and Sign RTO Agreement
The contract will be automatically created once all the required information has been entered in the previous steps. Dealers and renters can review the building details, descriptions, numbers, work order info, purchaser agreement, and disclosures.
Once the agreement has been reviewed, and the renter is ready to sign, they can click to e-sign once. The contract will automatically populate the signature wherever necessary throughout the agreement. The same goes for the renter’s initials.
If the renter wants to think about the agreement before signing, you can send a sign later link to their email. Also, if the renter is present to sign, but a co-renter is not present (if there is one), you can send the sign later link to them. You can also download and print a copy for the renter to take home.
Once the agreement has been signed and you click finish, the process is done! The agreement is completed and automatically sent to the manufacturer.
Learn More About How ServicePad Can Help Minimize Admin Time and Increase Revenue
Automated RTO contracts are just one of ServicePad’s several features provided to portable building dealers. If you are interested in finding out more about how our software can help your company automate processes and achieve goals, book a demo today!
