YoRent Introduces New Set of Features to Streamline Rental Operations

Since its launch in 2015, YoRent has been the game changer for many rental businesses. It has not only helped them undergo complete digital transformation but has also been the guiding compass for many entrepreneurs who wanted to launch unique rental businesses. As a result, YoRent became the technology behind first-of-their-kind online rental marketplaces in many countries. 

However, as new consumer trends emerged and the rental industry evolved, it was our responsibility to provide rental businesses with the best-in-class software. For this reason, we always kept updating YoRent with next-gen features and further enhanced the renting experience for both customers and businesses.

Now to add more versatility to YoRent and take your rental business management experience to the next level, we have rolled out some exciting new features. These features are aimed to improve the user-intuitiveness of the software, simplify the product catalog, and also assist in damage control. 

Exciting Upgrades in YoRent 2024

Let’s take a closer look at the new features that make YoRent even more versatile and accessible for everyone. 

Single Form Product Catalog 

For enhanced user-friendliness, we have added the option to enable Single Form Product Catalog in YoRent. Till now, YoRent’s product catalog followed a tabular design that divided the entire catalog into multiple tabs like basic product details, attributions and specifications, options and tags, custom fields, and more. 

This tabular design helped business owners understand the various elements of the catalog. Also while making any changes in a product, they could simply move to a specific tab and easily change the required details. Many business owners found the tabular form to be highly useful.

However, some business owners also preferred a Single Form Product Catalog update. To fulfill their requirements, we have introduced a new and fast Single Form Product Catalog in YoRent.

After enabling, the admin/vendors will only see a single-page product update form with essential fields. They simply need to fill in all the details and can upgrade the catalog without switching to different tabs. For many business owners, this new process will immensely improve the product upload speed. 

The admin of the marketplace can also switch back and forth between the Tabular Product Catalog and Single Page Form as per convenience. 

Days-plus-Hours Booking

In rental businesses with product pick-up and drop-off as their primary order fulfillment method, for example, car rental businesses, and equipment rental businesses, the exact time of pick-up and drop-off can vastly streamline operations.

To ensure this, YoRent has introduced a Days-plus-Hours booking feature. Customers now can specify not only the desired rental duration in days but also the preferred pick-up and drop-off times for their rentals. 

With precise information on pick-up time, business owners can conduct the necessary inspections and preparations in advance and ensure smooth pick-ups. Moreover, as drop-off time is also available, businesses can accept new bookings for the product without worrying about order fulfillment failures. 

Lastly, in contrast to day-based booking, the updated Days-plus-Hours booking system streamlines inventory for business owners. For example, if in case an equipment becomes available mid-day after a booking, it will be added back to the inventory and the business owner can start accepting bookings on the very same day. 

Telr Payment Gateway Integration

YoRent is one of the only few rental software that supports global-level rental operations with its 25 pre-integrated payment gateways. These payment gateways provide multi-currency support and ensure there are no currency-related barriers to your business expansion.

A new addition to our extensive list of payment gateways is the award-winning Telr Payment Gateway. It is a highly cost-effective payment gateway, more affordable than Stripe Connect Intent and other similar gateways with payment hold capabilities. 

Telr is highly popular in the Gulf Region (UAE and Saudi Arabia) and is also available in countries like Singapore, India, Pakistan, and Egypt.

Rental Problem that Telr and Related Payment Gateways Solve: 

A key functionality of the Telr payment gateways is payment hold, which can help rental businesses in damage control. For proper elaboration, whenever a rental booking is placed through Telr, the gateway can authorize the transaction and hold the amount for certain days before settling it. 

This payment hold provides rental business owners with enough time to inspect the rental vehicle or equipment, for any damages or other issues, such as traffic rule violations and challans. In case of any reimbursements, the business owner can deduct the reimbursements from the amount and return the rest to the customer even after a week passed.

Checkout YoRent’s complete list of pre-integrated payment gateways:

Some other damage control features available in the latest build of YoRent are:

• Rental security management

• Rental agreement management

• eSign

• Document verification

Master Catalog

To further streamline operations for both admin and vendors in the rental marketplace model, two types of catalogs can be prepared on YoRent, the first one is the Master Catalog, created by the admin and the second one is the vendor catalog created by individual vendors for their shop. The benefit of using Master Catalog is that it can immensely speed up product listings for vendors.

To add a new product listing, new vendors just need to register on the marketplace and select a product item already available in the Master Catalog. After selecting, they can add product inventory or create their own catalog as well. Lastly, to further simplify operations, vendors can request custom product catalogs from the admin.

For product verification, the admin can mandate admin approval for every vendor-created catalog in the main dashboard. 

Overall, the Master Catalog not only simplifies catalog management for admin and vendors but also ensures a satisfying vendor onboarding experience.

Final Words

The rental industry is growing at a pace never before seen. It is also sprouting into various niches that one couldn’t have thought of years ago, for example, heavy equipment, automobile rental, plant rental, dress rental, scaffolding rental, baby equipment rental, eBike rental, and more. While venturing out into these rental niches, many entrepreneurs will come across several challenges.

We at YoRent are here to help you overcome those challenges with data-driven digital solutions. Our every new version or feature updates are based on real-life rental use cases and thus, help rental businesses add more value to their business. Book a personalized one-on-one demo session with our expert and see everything YoRent can do for your rental business.