Rental Marketplace Features in YoRent Rental Software
Fuel your online rental marketplace with the most comprehensive set of features available in YoRentany rental software.
Managing rental dates and preventing double booking is a challenge for all online rental businesses. Our booking calendar effectively solves this problem by displaying product availability to customers and taking rental date inputs.
Manual invoicing in rental operations is tiresome. It includes calculating the rental fee x rental days, discounts, add-ons and more. Yo!Rent's rental invoicing algorithms are fast and efficient to generate 100% accurate invoices.
After verifying all necessary documents and information, rental businesses can conduct stress-free rental operations. Yo!Rent enables you to collect important documents during checkout and only process 100% verified orders.
Collecting rental security amount online is no longer a challenge. Instead of finding ways around, you can directly use Yo!Rent in-built rental security management module and reimburse any unprecedented damages.
Some rental products are used along with complementary products, such as child seats for cars, attachment bits for drilling machines, and ink for printers. To provide a more satisfying customer experience to your customers, Yo!Rent lets you provide various types of optional add-on products and services right on the marketplace.
The quality of the product delivered remains a primary concern in the consciousness of the consumer. To help the rental marketplace deal with this use case, Yo!Rent lets customers inspect the delivered products. After inspection, customers can accept the rental product, notify prior damages or faults, or request an exchange/refund.
All rented products require thorough inspection on return. During this period, the product cannot be rented out and should not be added to the inventory. Yo!Rent synchronizes this maintenance period with the online inventory.
Late returns occupy products for longer periods then specified and lead to lost opportunity costs. Yo!Rent helps you encourage timely returns and recover lost opportunity costs by defining custom late return periods.
Rental order processing may include cleaning, servicing, testing, packaging, shipping, and labor-related costs. In case of any cancellations, Yo!Rent's late cancellations management module helps recover any such order processing costs.
Customers may forget to alert rental businesses of delayed returns but Yo!Rent does not. It lets rental businesses keep track of overdue returns in real-time and send alerts for return or extending the rental period.
Encourage safe usage practices by levying your own rental terms and conditions. Along with saving store-level rental agreements, Yo!Rent comes with an eSign option that lets you sanction store terms & conditions at the checkout.
Access all user profiles in a single dashboard and view their transactions. For added assistance, Yo!Rent also lets you see their contact information, delivery information, user type, rewards, and remove fraudulent user profiles.
Order commissions are one of the primary sources of earnings for rental marketplaces. Now marketplace owners can define and collect differing commission rates for varying product categories.
For hassle-free vendor registrations, marketplace owners prefer collecting all essential details. Yo!Rent lets you create a custom vendor registration page and add custom registration fields as per your target niche.
To onboard vendors, rental marketplaces are required to give some sort of incentives, such as lower commission rates and free product listings. Yo!Rent allows you to create different subscription packages to incentivize vendors.
Vendors with heavily occupied schedules and limited technical knowledge may need some support in onboarding the platform. You can easily help them out by directly signing into their profiles for technical assistance.
To manage a proper cashflow for ensuring timely returns, marketplace owners are required to maintain a balance in the marketplace eWallet. This can be easily done by defining a minimum withdrawal interval period.
Another feature to assist marketplace owners in maintaining a healthy balance for processing refund requests is the minimum withdrawal balance. Vendors can only withdraw their earnings after reaching a withdrawal threshold amount set by the admin.
Filtering out genuine vendors from the rest is quite essential on a marketplace. With automated email verifications, you can confirm whether the email address provided is valid and if the vendor actually has access to the email.
Quality control helps establish a formidable brand image by enhancing the user experience. For quality assurance purposes, the admin can manually approve listings and vendor profiles before displaying them on the marketplace. The admin can also disable this option in the backend.
Safeguard your marketplace from spam profiles and unlawful activities by deciding the maximum number of attempts a vendor can register.
Ensure data protection & highest privacy standards throughout Europe with GDPR compliance. With Yo!Rent, you can easily receive, review, and take action on various types of user data requests.
As your business grows, it will become difficult for a single admin to manage all marketplace operations. It is also not recommended to give all controls to a single sub-admin account. Thus, Yo!Rent lets you create multiple sub-admin accounts & assign them up to 100+ read and write permissions.
Customers are now renting automobiles, equipment and other products for hours, days, weeks and months. To fulfill their diverse requirements, your rental marketplace requires a tiered pricing system as well.
Rental businesses can capitalize on the sales model as well and boost their profit generation. Via Yo!Rent's rent plus sell capabilities, they can put on clearance sales and also list sale-only items.
Some rental orders are very complex. They include bulk quantities and varying rental dates. To negotiate the pricing for these orders and save quotations on your system, you can use Yo!Rent's in-built Request for Quote module.
Many businesses prefer a custom checkout process that enables them to add or remove certain steps. With Yo!Rent, you can easily customize the checkout process and manage certain steps such as document verification and agreement eSign based on your business requirements.
Every vendor has their own rental terms and conditions. You can sanction all shop-level agreements on your rental marketplace by using Yo!Rent's agreement management and eSign module.
Collecting Cash on Delivery comes with its own set of advantages, such as improved cash flow, effortless payments to delivery partners, and improved conversion rates. Yo!Rent's COD management can provide you with these benefits.
Complying to all state and center taxation policies has never been this easy. Yo!Rent allows you to create custom tax categories that can be assigned at product level and help you generate accurate invoicing.
Users prefer the convenience and the multi-cart checkout feature provides them a highly satisfying checkout experience by invoicing, billing, and executing rental or sales orders from multiple vendors at once.
Rental niches like automobile rental and adventure gear rental have a diverse audience including tourists and migrants. To effectively target such an audience, you can display prices in their native currencies and checkout as well.
eWallets are essential on rental marketplaces to streamline various types of payments, including those for returns, refunds, reimbursements, and even managing vendor earnings and payouts.
Certain rental niches, such as car rental & equipment rental witness seasonal surges in demand. To ensure that the equipment is accessible to the customers who require it on an urgent basis, you can use Yo!Rent's price surge module.
Yo!Rent's vast payment gateway network ensures fast and reliable payments in more than 136 countries. You can also let customers pay in their preferred currencies and access features like payment hold and standard deductions.
Vendors often refrain from registering on new marketplaces due to the long and tedious cataloging process. With Yo!Rent, admin can create a master catalog that can be easily accessed by vendors to create listings. Additionally, the master catalog helps maintain a standard and consistency across all listings on the marketplace.
For those items that are not available in the master catalog, vendors can create their catalog or even request the admin to add new products to the master catalog.
Heavy equipment, electrical appliances, furniture, and even dresses may require supporting documents such as guides, manuals, and size charts. Yo!Rent lets you upload these supporting documents in product listings.
In the modern era, customers prefer complete access to their order history. Yo!Rent lets you keep a record of all previous orders, transactions, and other details such as rental dates, the amount paid, order fulfillment method, returns, refunds, & more.
Inventory management is crucial to prevent overbooking and improve order fulfillment rate. Yo!Rent lets vendors set custom stock-level alerts for inventory management, view pending returns, access complete inventory reports, & even sync offline orders with unavailability management.
Many customers make decisions based on the provided shipping methods, charges, and speed. Create custom shipping profiles with varying charges and assign them at a product level to provide more convenience to customers and maintain your conversion rates.
Many times, businesses rent out products via offline means. Doing so affects the online inventory & leads to overbooking & cancellations. By syncing offline orders with the online inventory with unavailability management, you can prevent overbooking & maintain a high order fulfillment rate.
Another way to prevent overbooking & stockouts is by setting custom stock-level alerts. These can be set by the vendors & give notifications every time the stock levels fall below the defined threshold.
To prevent the misuse of the return policies, marketplace owners can set a custom-defined return window for sales orders. Once the return window is closed, customers cannot initiate a return request for any sales order.
Vendors can process their orders on a timely basis with quick and fast notifications. Similarly, customers also prefer to receive timely payment confirmation & order confirmation alerts.
Searching products as per user preferences has never been easier. Yo!Rent's highly intuitive search module helps customers find specific products based on various attributes such as category, price range, location, available dates, and features.
Due to the wide range of rental equipment, it is not possible to provide a default list of filters that suit all products. Thus, the admin can also create category-level custom filters and assign them to various products to provide better search results.
Customers often face the challenge of choosing between several excellent product options. To help them in making a well-informed decision, Yo!Rent comes with an automated product comparison feature that can compare up to 4 rental products at once.
Many times, customers prefer to rent products from their close vicinity. This approach saves a lot of time and can assure same-day delivery. To help customers find products and vendors in their nearby areas, you can add Yo!Rent's GPS-based map view filter on your marketplace.
To provide a better search experience across all screens and devices, users can view Yo!Rent results in both Grid View and List View layouts. While the Grid View offers a better visual experience, the List View provides efficiency in search by displaying more listings.
Apart from the Map-View filter, you can also provide location-based product sorting in Grid View and List View layouts as well. This sorting option is highly useful in regions or instances where good internet connection or GPS service is not available.
Marketplace homepages that are personalized for the target audience and meet industry standards look more professional and help in conversion. Yo!Rent allows you to personalize your homepage as per your rental niche and business preferences.
Digital marketing experts often recommend using a combination of paid and organic marketing for long-term sustainability. SEO-optimized blogs are the most recommended organic marketing strategy that helps you show your expertise and gain top rankings on search engines.
To help customers find relevant products you can curate and display various rental product collections depending on brands, category, popularity, discount, etc. These collections and their positions can be easily managed from the admin dashboard.
Navigation plays a major role in providing a satisfying user experience to customers and vendors. With Yo!Rent, you can customize and manage both header and footer navigations and provide quick access to all important pages of your marketplace.
Provide concise answers to all common questions without requiring any manual communication. Yo!Rent supports both dynamic and global FAQs that can be displayed on various pages or stay consistent throughout the platform.
Create a well-organized and informative rental website with up-to-date content. Useful webpages also increase visitor engagement and help improve the overall conversion rate.
Gain more visibility on the internet with well-developed meta tags, including meta titles, meta descriptions, and URLs. With accurate meta tags, rental business owners can attract a significant amount of traffic to their website without any additional investment.
Utilize schema markup to provide search engines with structured data that can be displayed in the search results. This further results in higher click rates and gives consumers a better idea about your business.
Social media followers are crucial for a rental business. Direct customers to your official social media handles easily by integrating them into your rental marketplace. Furthermore, social media followers can also help you build your social proofing.
Update the entire sitemap with a single click. Ensure all new and existing pages are indexed by search engines, and improve site navigation and SEO performance.
Your rental marketplace can also rank on image search with well-optimized images. Yo!Rent allows you to add alt tags to all images for better SEO optimization.
A webpage's loading speed is essential for retaining customers and securing SEO rankings. Yo!Rent is pre-optimized for ensuring quick loading speeds by limiting any third-party requests, minimizing heavy CSS sheets, and with optimum image compression that does not compromise image quality.
Due to various reasons, customers tend to abandon their carts right before checkout. Yo!Rent lets you send custom alerts and notifications to all customers with pending items in their carts.
Discount strategies are highly useful to gain a competitive advantage and increase conversion rates. Yo!Rent supports various types of discounts and promotions including rental duration discounts, bulk order discounts, flat rate discounts, percentage discounts, reward points, homepage banners, featured listings, and collections.
The homepage slider is the main attraction of a rental website. To make it more engaging, Yo!Rent lets you upload high-definition banner images and customize the slider settings.
To increase bookings for certain products, the admin can show them in the most viewed sections & product collections of the website. Additionally, the admin can charge vendors for featured listings.
To provide a more personalized experience and increase bookings for related or rented-out-together products, the admin can display custom product recommendations to all visitors.
To help marketplace owners set up featured listing revenue model, Yo!Rent allows owners to manage their CPC rate and view vendor budget, impressions, and clicks.
In rental niches, where equipment is rented for longer durations, such as automobile, adventure gear, & equipment rental, the admin can increase the sales volume by giving rental duration discounts.
Provide a personalized experience to customers by creating custom email templates. Yo!Rent also comes with various in-built templates for the welcome email, order confirmation email, abandoned cart management email, and more.
In rental niches where equipment is rented out in bulk, such as party supplies, audio-video equipment, and furniture rentals, the admin can increase the overall sales volume by giving bulk order discounts.
Poor inventory stocking options affect the overall leads and conversions. You can avoid this by making data-driven restocking decisions by exploring periodic top-performing and non-performing products. Along with these, you can view most refunded products and most wishlisted products as well.
Track your online inventory in real time to prevent any overbooking and understocking issues. Moreover, Yo!Rent also helps vendors calculate their total inventory costs and sales in USD.
Identifying your top-performing vendors and helping underperforming vendors is essential for strengthening your rental marketplace network. With Yo!Rent's vendor reports, you can identify these vendors & also view vendor reviews, ratings, order status, refunds, cancellations, & more.
Understanding your users and customers is important to make well-informed marketing, management, and business growth decisions. Yo!Rent provides you with comprehensive reports of all new and old users, including their total orders, purchases, registered email, and eWallet balance.
For diversifying revenue channels and capitalizing on changing market demands, Yo!Rent supports sales operations as well. You can access all sales reports in Yo!Rent's admin dashboard and view insights such as total sales and top-sold products.
