How to automate your rental business
Automate bookings, payments, access, inventory and maintenance to cut labor, prevent fraud, and run rentals 24/7 with real-time tracking.
Running a rental business can be overwhelming, with tasks like managing bookings, handling payments, and tracking inventory. Automation simplifies these processes, saving time, cutting costs, and improving efficiency. Businesses using automation report a 90% boost in productivity, saving $100 daily on labor and avoiding $80 in manual errors. Customers also benefit from faster service, 24/7 access, and contactless options.
Here’s how automation transforms rentals:
- Bookings: Online systems handle reservations 24/7, reducing double-bookings and saving up to 50% of processing time.
- Payments: Automated platforms manage secure transactions, invoices, and deposits, reducing fraud risks.
- Access: Digital locks enable self-service pickups and returns, eliminating the need for on-site staff.
- Inventory: Real-time tracking ensures availability and prevents theft.
- Maintenance: Automated workflows flag damaged items and schedule repairs.
Tools like Lockii combine these features, streamlining operations while reducing labor costs. Ready to modernize your rental business? Automation is the key to scaling efficiently and meeting customer expectations.
Rental Business Automation Benefits: Cost Savings and Productivity Statistics
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What You Can Automate in Your Rental Business
How much you can automate in your rental business largely depends on your operational model. Traditional rental businesses with on-site staff often use automation to handle routine tasks, giving employees more time to focus on marketing, maintenance, and resolving complex customer issues. On the other hand, contactless self-service models rely almost entirely on automation, allowing 24/7 operations without the need for on-site personnel. In staffed setups, automation typically takes care of repetitive tasks like billing reminders, while employees handle high-value interactions such as upselling or assisting customers with equipment choices. Meanwhile, self-service models automate the entire customer experience - from booking to pickup and return - capturing rentals even during holidays or after hours when traditional offices are closed.
"Automation isn't just for unmanned scenarios. It's really to improve the overall process and experience not only for the customer, but also for the self-storage manager and free up time... to focus on other things." – Travis Morrow, President, National Self Storage
No matter your business model, there are some key areas where automation can make a big difference. With 80% of travelers expecting to book services entirely online and over 60% of rental customers preferring digital payment methods, automation has become more than just a convenience - it's now critical to staying competitive. Let’s dive into the main areas where automation can transform your operations.
Booking and Reservations
Automated booking systems eliminate the hassle of managing phone calls or manually updating calendars. Customers can check availability, choose their rental dates, and confirm their reservations instantly - any time, day or night. Real-time syncing ensures there are no double-bookings across platforms.
This can save a lot of time. For example, automation can cut booking processing time by up to 50%, freeing your team to focus on more important tasks.
"Now, an online booking happens automatically 24 hours a day. We don't have to answer the phone and it works when we're not available." – Curtis and Cheryl, Owner-operators, Paradise Motel
You can also integrate embeddable booking widgets directly into your website. This allows customers to complete the entire reservation process without leaving your page, creating a smoother experience and reducing the need for phone calls or email confirmations.
Identity Verification and Payments
Manual ID checks and handling cash often slow things down. Automated identity verification systems streamline this process by allowing customers to upload their ID and a selfie for instant verification through global databases. This reduces fraud risks and eliminates the need for in-person checks.
Payment automation is another game-changer. Integrated gateways like Stripe or PayPal handle secure transactions, generate instant invoices, and issue receipts automatically. Systems can also manage security deposits, recurring payments, and multi-currency transactions while producing real-time financial reports. For staffed businesses, this reduces the workload for employees, while self-service models benefit from completely unattended, secure transactions.
24/7 Contactless Pickup and Access Control
Digital locks provide customers with unique, time-sensitive codes for secure access to their rentals. Instead of coordinating key handovers or staffing a front desk, customers receive their access codes via SMS or email, allowing them to pick up their rental whenever it’s convenient. Currently, about 24% of short-term rental managers use keyless entry systems, and this number is growing as customers demand more flexibility. These systems automatically activate codes at the start of a rental and deactivate them when the rental ends.
For businesses with multiple locations, this setup eliminates the need to staff every site, while still giving customers instant access and allowing you to maintain full control remotely.
Inventory and GPS Tracking
Managing inventory manually can be chaotic. Automated systems use barcodes to track each item's status - whether it’s available, rented, or undergoing maintenance. These systems can even alert you when stock levels fall below a set threshold, ensuring you’re never caught off guard.
For mobile assets like bikes or trailers, GPS tracking provides live location data. You can monitor where each item is, get alerts if something moves unexpectedly, and confirm returns without being on-site. This visibility helps prevent theft and ensures smooth fleet management. Additionally, automated inventory systems block items under maintenance from being rented, ensuring customers only book equipment that’s ready to go.
Return Inspections and Maintenance Tracking
The return process is often where businesses lose time and money. Automated return forms allow customers to upload photos and complete condition reports before finalizing their rental. This creates a timestamped record of the item’s condition, reducing the need for manual inspections.
Maintenance tracking integrates seamlessly with inventory systems, automatically updating service histories and scheduling reminders for regular upkeep. If damage is reported, the system flags the item, removes it from availability, and generates a work order. This speeds up turnaround times and reduces disputes, as customers can’t claim pre-existing damage once they’ve confirmed the item’s condition at pickup.
How Much Money Automation Saves
Automation doesn’t just make processes smoother - it also plays a big role in boosting profits by cutting labor costs, improving how assets are used, and reducing losses. The amount you save depends on whether you operate with staff or run a fully self-service model, but both options see notable financial benefits.
Labor Cost Reductions
Labor is often the biggest expense in rental businesses. Automation helps reduce these costs by saving 15–20 staff hours every week. This translates to daily savings of about $100 by eliminating manual tasks like responding to emails or fixing calculation errors. For staffed operations, automation acts like an extra set of hands. For example, a part-time employee can manage tasks that used to require a full-time manager, such as billing, sending delinquency notices, and following up with leads. Self-service models save even more since automation can replace the need for on-site staff entirely.
Interestingly, over 90% of workers have reported that automation tools make them more productive, allowing them to focus on higher-value activities like marketing or building customer relationships.
But the savings don’t stop at labor - automation also ensures better use of assets and reduces revenue losses.
Increased Asset Utilization
Automation keeps things running efficiently by enabling 24/7 access and real-time inventory updates, which minimizes downtime and keeps assets in use. In fact, in fully automated setups, 95% of customer bookings don’t require any human involvement. Features like real-time tracking and automated returns free up assets immediately, reducing idle time. Automated pricing tools also adjust rates during peak demand to maximize earnings, while self-service options let customers extend bookings online, keeping assets in circulation longer.
While better asset management increases revenue, protecting that revenue from fraud is just as important.
Fraud and Loss Prevention
Fraud and asset loss are major concerns for rental businesses. Around 80% of rental property owners and managers have dealt with applicants misrepresenting their information, and losses from a single fraudulent tenant can exceed $10,000 due to missed rent and eviction costs. Worse, 73% of property managers say that 59% of renter fraud isn’t discovered until after move-in.
Automation helps tackle these issues by using digital identity checks, GPS alerts, and machine learning to spot suspicious activity. This has cut fraud-related losses by up to 70% and made dispute resolution faster and less costly. Automated systems can detect forged documents through anomaly detection, while GPS tracking and digital locks provide instant updates on asset status. These tools can even lock out non-paying customers automatically. For chargebacks, automation shifts the burden to card issuers, which is crucial since merchants can lose 2.5 times the transaction amount when fees and manual dispute resolution - taking 2–5 hours per case - are factored in.
These examples highlight how automation can save rental businesses money while improving efficiency and security.
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How Lockii Automates Your Rental Business
Lockii simplifies rental business operations by combining essential automation tools into one easy-to-use platform. Instead of juggling multiple systems, you get everything you need in one place - booking widgets, identity verification, digital locks, GPS tracking, and automated return processes. This integration not only saves time but also allows you to focus on growing your business. By streamlining each step of the rental process, Lockii reduces inefficiencies and labor costs, making your operations smoother and more efficient.
Lockii Booking Widgets and Reservations
Lockii's booking widgets integrate directly into your website, letting customers browse your inventory, check availability in real time, and make reservations - all without needing staff assistance. The system handles pricing calculations and generates digital contracts automatically. With 24/7 booking capabilities, you can secure revenue even outside business hours. To avoid double bookings, the widget syncs seamlessly with your inventory management system. Plus, customizable forms collect all the necessary customer details upfront, eliminating the need for manual follow-ups and ensuring customer data is updated instantly.
Identity Verification and Payments with Lockii
Lockii partners with Stripe Identity to verify customer identities during bookings, while Stripe Billing manages secure payments and invoicing. Automated SMS and email notifications guide customers through verification and payment steps, making the process straightforward. Customers can also manage bookings, request extensions, and access documentation through a self-service portal or "find my order" pages. These features not only enhance the security of your transactions but also make the rental process faster and more reliable.
Digital Locks for 24/7 Self-Hire
Digital locks take contactless rentals to the next level by enabling 24/7 self-service. Lockii integrates with IglooHome digital locks, allowing customers to pick up and return items without any in-person interaction. The system generates and sends unique lock codes via scheduled SMS and emails, ensuring a seamless experience. Once an item is returned, GPS data confirms its location and flags any issues instantly. Thanks to this setup, 95% of customer bookings with Lockii require no human intervention.
Lockii GPS Tracking and Asset Management
Lockii’s GPS tracking provides real-time visibility into your rentals. Interactive maps and geo-location tracking ensure you know exactly where your assets are at any moment. The system updates asset statuses automatically when customers confirm returns and sends immediate alerts if an item goes missing or is returned to the wrong location. This not only minimizes theft but also boosts accountability.
Hire End Processes and Maintenance Tracking
Lockii streamlines returns with hire end quizzes and photo uploads that customers complete through their portal. This information feeds directly into maintenance logs, automatically flagging items that need repairs. The platform keeps detailed records of damage history, maintenance schedules, and issue resolution. If a customer reports an issue during the return process, Lockii triggers maintenance workflows immediately, ensuring the asset is repaired and ready for the next booking.
Conclusion
Automation has undeniably revolutionized the rental process, simplifying tasks and driving efficiency at every turn. By automating repetitive duties like email responses and reducing calculation errors, rental businesses can save an impressive $100 per day while increasing productivity by over 90%. These savings go beyond just cutting costs - they free up resources, allowing teams to concentrate on high-value, strategic initiatives. Plus, automation facilitates 24/7 operations, boosting asset utilization and revenue without the need to extend hours or hire additional staff.
The benefits don’t stop there. Over 90% of workers report that automation enhances their productivity, freeing them from mundane tasks so they can focus on growth opportunities. Customers also reap the rewards, enjoying the speed and convenience of modern self-service options. Features like real-time GPS tracking, automated maintenance workflows, and contactless pickup streamline the rental experience, removing common pain points.
Lockii brings all these automation advantages together in one seamless platform. From embeddable booking widgets and identity verification to digital locks and GPS tracking, Lockii offers a comprehensive solution tailored specifically for rental businesses. It handles everything - from booking to return inspections - so you don’t have to.
Ready to take your rental operations to the next level? Try Lockii today and see how automation can help you scale your business, cut labor costs, and deliver the frictionless experience your customers expect - all while minimizing the need for traditional staffing.
FAQs
How can automation streamline my rental business operations?
Automation makes running a rental business easier and faster by handling repetitive tasks like bookings, invoicing, inventory management, and scheduling maintenance. This shift allows your team to focus on what truly matters - delivering great customer service and driving business growth - rather than spending hours on data entry or chasing overdue payments. Plus, tools like automated email and SMS communication, identity verification, and GPS tracking help reduce errors, speed up workflows, and keep operations running smoothly.
With Lockii, automation reaches a whole new level. This contactless platform lets customers pick up and return rentals anytime, day or night, using digital locks - no need for on-site staff. Its features, including embedded booking widgets, automated invoicing, and real-time GPS tracking, simplify every stage of the rental process. By cutting down on manual tasks and avoiding expensive errors, Lockii enables you to manage more rentals, expand to new locations, and increase revenue - all while keeping your operations streamlined and efficient.
How does Lockii automate rental businesses?
Lockii takes the hassle out of rental operations by automating every step of the process. With digital locks using one-time codes, customers can pick up and return items whenever it's convenient for them - no need for on-site staff. Once an item is returned, the system instantly records its condition and location using real-time photos and GPS tracking.
Communication is effortless with automated email and SMS notifications, keeping customers informed about booking confirmations, payment reminders, and return instructions. To ensure security, Lockii includes online identity verification for driver’s licenses or passports, offering peace of mind when dealing with high-value rentals. Customers can easily manage their bookings through a self-service portal, which offers features like order extensions, hire-end quizzes, and photo uploads.
Lockii is built to scale across multiple locations, thanks to integrations with tools like Stripe for payments, Zapier for workflow automation, and IglooHome for smart locks. At just $12 per item per month, it’s a cost-effective way to simplify operations, cut labor expenses, and improve the overall customer experience.
How can automation help reduce fraud and protect assets in rental businesses?
Automation plays a key role in cutting down fraud and asset loss by replacing manual processes where mistakes or dishonest actions might slip through. For instance, automated identity verification ensures every customer is thoroughly checked, while tools like single-use lock codes and GPS tracking keep assets both traceable and secure. These steps work together to prevent issues like theft, equipment misuse, and fraudulent bookings.
With Lockii, rental businesses can simplify their operations through features like real-time identity checks, automated notifications, and digital locks - eliminating the hassle of manual key handovers. Add-ons like hire-end quizzes and photo-based return checks help spot problems, such as damages or missing parts, early on. By automating these tasks, businesses not only safeguard their assets but also save time and boost efficiency.