Getting started with the Rental module in ChecKmate

The Rental module keeps track of anything you rent out, like tents, chairs and tables, sound systems, tools or machinery. You set your rates and deposits once. ChecKmate then works out the price of each rental, prints the agreement, and works out late fees and the deposit refund when the item comes back.

Before you start

• On your Dashboard, go to the Property & Services section and open Rental Management. It is part of the Enterprise plan.
• Use the business and branch selector at the top to choose the location you are working in.
• You don't need to switch anything on in Settings.

The module has six tabs: Dashboard, Items, Transactions, Reservations, Overdue and Reports.

Step 1: Add your rental items

1. Go to the Items tab and click Add Rental Item.
2. Enter the Name (for example, Folding Chair). Add a SKU, Category and Description if you like.
3. Set the Total Quantity, meaning how many of this item you own.
4. Under Rental Pricing, fill in the rates you charge: Per Hour ($), Per Day ($) and/or Per Week ($). Leave the others at zero.
5. Enter the Security Deposit ($) you take for each item, and its Replacement Value ($).
6. Under Late Fee, choose the Fee Type: Flat Fee, Percentage (of the rental price) or Per Day Overdue. Then enter the Amount.
7. Leave Active switched on so the item can be rented, and click Create.

The Items list shows each item's quantity, pricing, deposit, late fee and status. Use the search box to find an item by name, SKU or category, and the edit button on its row to change it. Switching Active off hides an item from new rentals without deleting it.

Step 2: Book an item out

1. Go to the Transactions tab and click New Rental.
2. Pick the Rental Item.
3. Choose the Duration Type: Hourly, Daily or Weekly.
4. Pick the Start Date and End Date, and enter the Quantity.
5. Enter the Customer Name, Phone and Email. If you leave the name blank, the rental is saved as Walk-in.
6. Add any Notes, such as delivery details.
7. Check the summary. It shows the Rate, Duration × Qty, Subtotal, Security Deposit and Total Due.
8. Check Available for these dates. If you ask for more than are free, ChecKmate shows a red message and won't let you complete the rental.
9. Collect the Total Due from the customer and click Complete Rental.

The rental shows in the list as active, and the deposit as collected.

Step 3: Print the rental agreement

On the Transactions tab, click the small document button on the rental's row. The Rental Agreement opens with your business details, the customer, the item, the money summary, standard terms and conditions, and signature lines. Click Print, then have the customer sign before the item leaves.

Step 4: Process the return

1. When the item comes back, find the rental on the Transactions tab and click Return.
2. ChecKmate tells you whether it was Returned on time or how many days overdue it is. Late fees are worked out for you from the item's late fee setting.
3. Set the Return Condition: Good — no damage, Damaged or Lost / Unreturnable.
4. If it is damaged or lost, enter the Damage / Replacement Charge ($). This comes out of the deposit.
5. Add any Notes and check the Deposit Refund amount.
6. Click Confirm Return, then give the customer the deposit refund shown.

The rental changes to returned. The deposit shows as refunded, partly refunded or forfeited, depending on the condition.

Step 5: Keep an eye on things

• Dashboard shows Total Rental Items, Currently Rented, Available, Due Today, Overdue, Upcoming Reservations and Revenue This Month.
• Transactions has a status filter. A rental shows as Due Today on its end date and Overdue after it. The Overdue tab lists every late rental.
• Reservations lists rentals booked in advance. Tap New Reservation to book one ahead. When the customer collects, click Convert and the New Rental form opens already filled in. Click Cancel if they don't come.
• Reports shows Revenue This Month, Late Fees Collected, Damage Costs, Most Rented Items, Utilization Rate and a Status Breakdown.

Tips

• Set the late fee on each item before you rent it out. The fee used at return comes from the item's setting.
• Set a Replacement Value on every item. Then you know what to charge if something comes back lost.
• Check the Overdue tab each morning and call those customers first.
• Always take a phone number. It is the quickest way to chase a late return.
• Print and sign the agreement every time. It lists the deposit, late fee and damage terms the customer agreed to.

Related

• Customers & Invoicing: keep your regular renters on file, or invoice for large event orders.
• Reports: your overall sales and business reports.
• Hotel Management and Gym Management: other modules in the Property & Services section.