Successful renewals begin with effective rentals. The time spent at the beginning of the customer relationship can greatly impact your rental success. Here are a few areas of focus to help build the customer relationship and ensure on-time renewals.

The Customer Interview
Upon completion of the rental order, review the information with the customer. Ask questions to determine the best possible renewal options for the customer (i.e. - pay day, pay frequency, etc.). It is your responsibility to make the renewal dates convenient for the customer. This also serves as your first opportunity to explain your expectations when it comes to on-time renewals.

The Rental Agreement Close
Successful renewals begin with a good agreement close. First, explain the agreement in the store, rather than the home, whenever possible. Find a place in the store that is quiet and free from interruptions. Secondly, take your time, be thorough and ask questions to ensure understanding. But most importantly, don’t be afraid to make your expectations clear. It is your responsibility to ensure the customer fully understands the agreement.

The Delivery Follow-up
Take time after the delivery to ensure customer satisfaction. A follow-up phone call or letter can serve as an opportunity to sell the customer on renewing the agreement when their initial rental period ends. Consider having delivery personnel call from the home upon completion of the delivery. The earlier you are aware of service related issues, the sooner you can rectify any such issues. Remember, the customer will only renew their agreement if they feel that both the product and service are worth the payment.

The time spent explaining the transaction, terms, and expectations at the beginning of the rental process can greatly impact your renewal success. Your responsibility, as a rental professional, is to ensure that the customer is receiving the level of service they deserve and that they understand your expectations of them. Follow these steps and you will see just how easy renewal success can be.