The demand for construction equipment, gardening tools, and earthmoving machinery is increasing exponentially. Since most heavy equipment is required for shorter periods,  purchasing them becomes a costly affair for businesses of any level. Therefore renting from online marketplaces for a fixed time is a suitable option for equipment procurement. Pertaining to the growth and demand in heavy equipment rentals, starting an online heavy equipment Rental marketplace can be a suitable business idea for aspiring entrepreneurs. In this article, we are sharing some best Equipment Rental Softwares platforms.

Heavy equipment rentals involve a complex process of equipment inspection, inventory management and rental security deposits, and so on. To operate a heavy equipment rental marketplace, having an efficient platform to streamline the day-to-day rental operations becomes imperative for the marketplace admins. Such platforms are generally developed by a custom software development company or launched using off-the-shelf solutions.

Custom software development takes a lot of time and money to build an equipment rental marketplace platform. However, ready-made solutions can easily help businesses in launching a heavy equipment rental marketplace within a short span of time.

In this article, we list out 7 best equipment rental software solutions to launch and manage the heavy equipment marketplaces.

What Are Some Essential Features Of An Equipment Rental Software?

Depending on business complexities and workflows, the features required to manage the marketplace may differ. Though there are some basic functionalities that you can look for in a rental software

You can go through this features checklist before finalizing the heavy equipment rental software for your business:-

• Agreement Management
• Inventory Management
• Advanced Rental Security module
• Payment Gateways Integration
• Multilingual And Multicurrency Support
• Equipment Inspection And Tracking
• Equipment comparison
• Tiered Pricing And Price Surge Modules
• Support For Multiple Revenue Channels
• Should Be Customizable And Self-Hosted

List of Top 7 Equipment Rental Software in 2023

1. YoRent

YoRent is a readymade equipment rental software to launch and manage equipment rental marketplaces. It comes with several functionalities including inventory management, rental security deposit, order management, document verification, etc.

The rental solution currently serves more than 70 countries across the globe and has successfully built more than 1000 rental marketplaces. To support a diverse audience across the world, Yo!Rent comes with multilingual, multicurrency, and multiple payment option capabilities.

With all the functionalities required to operate a heavy equipment rental business, Yo!Rent comes at a one-time cost and free tech support to avoid any post-deployment issues. Additionally, you can also attend a free personalized demo to visualize your equipment rental marketplace operations with Yo!Rent.

2. Booqable

Booqable is an all-in-one rental software for equipment rental businesses. The software provides everything required to accept bookings and manage regular rental operations. Booqable comes with a  14-day free trial for new businesses. Booqable, being a SaaS-based solution, offers its services at monthly charges ranging from $35 to $299 per month. This rental platform can be a good option for small and local rental businesses as it doesn’t involve higher one-time costs.

While you start your equipment rental business with a platform that has limited scalability options, there are high chances that you will have to migrate your rental business when it starts experiencing growth.  So, it is a better approach to select an efficient rental software to build your rental business.

3. RentRax

Rentrax is a cloud-based rental software that initially started as a ski and bike rental solution and then shifted into a complete rental solution for multiple categories including equipment. Rentrax comes with a multitude of features but needs to include some crucial rental modules including agreement management and advanced rental security. The software also comes with an android app for the customers.

4. EzRentout

EZ Rentout is a rental software built for equipment rental businesses to save time with its built-in functionalities. The software has plenty of features including bookings management, easy invoicing, customer and inventory management, etc. The software is available in form of a subscription that can be selected depending on the features you require. EZ rentout also comes with mobile apps for customers and admins for ease of business. Business owners can avail a free trial without any credit card.

5. Point-Of-Rental

Point of Rental is an efficient rental management software that helps businesses launch their rental websites by providing solutions such as inventory management, order tracking, ID verification, and so on. The software was developed by a rental business to ease their businesses but later they started selling the software solution to other rental businesses as well. The point of rental software also comes with mobile apps.

6. HireHop

HireHop is an equipment rental software company based in London. The software has subscription-based pricing where the basic package can be availed for free to test business operations. The premium package for an equipment rental business can be availed at $22 per month with 5GB storage and customized user permissions. HireHop can be used in efficient inventory management, invoice generation, and multilingual support.

7. Rentman

Rentman is a readymade audio-video and event equipment rental software built for small business owners. The company has advanced functionalities that help small equipment rental businesses improve their workflows to prevent revenue losses and reduce operational costs. With Rentman, equipment rental business owners can create and send quotes, manage inventories, and schedule availability for the resources.

Conclusion

Businesses that rent their equipment online face difficulties while managing inventory, inspecting equipment, tracking the equipment, etc. This also involves manpower and capital to manage the day-to-day operations. Dedicated equipment rental software can help businesses in automating business workflows at multiple stages, which can help in reducing operational costs. This article listed out 7 best equipment rental software with efficient functionalities on the internet. You can choose the most suitable to launch your equipment rental marketplace after considering various factors such as user-friendliness, costs, features, scalability, and security.

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