How To Keep Track Of Rental Equipment?

How Do I Keep Track Of My Equipment Using EQM Rental Management? | Q&A

How To Keep Track Of Rental Equipment

Are you looking for ways to keep track of you rental equipment? You are definitely not alone. Many business owners find it difficult to track all of their rental equipment, but it’s essential to keep accurate records of the items they have rented out. Knowing which pieces are currently in use and which have been returned is key to staying organized and efficient. So, how do you keep track of your rental equipment? Here are some tips to help you manage your rental equipment in the most effective way possible.

Maintain Accurate Records

Keeping accurate records of your rental equipment is the most essential part of managing your inventory. For each rental, you should record the piece of equipment, the client who rented it, the rental time period, and the rental fee. These records should be kept in an organized and secure manner, and all updates should be noted promptly so existing records stay current.

Using a software such as EQM Rental Management can help you streamline the process of recording and managing your rental data. This software is designed to help you keep track of your rental equipment and optimize the management of your rental process, both in the office and in the field.

Moreover, using a software can make it simpler to track the history of the rental equipment, such as who rented it and for how long, which can be crucial for tracking down any discrepancies. If something doesn’t seem to match up or someone returns an item that wasn’t previously checked off, you’ll easily be able to refer to the records and figure out what’s going on.

Use Barcodes

When it comes to managing rental equipment, barcodes are key. Labeling each piece with a barcode, or even a QR code, can make tracking and inventorying your gear much easier. Each barcode should be associated with the rental information of the piece, so it will always be easy to look up who grabbed it, when and for how long.

Using barcodes also makes it possible to create a check in/check out system. By scanning the barcode, you’ll know whether a piece is currently in use or not. You can designate multiple individuals in your office to manage the check in/check out process. This way, you’ll be able to know which piece is currently in use or available.

Using barcodes for managing your rental equipment also eliminates the need for manual record-keeping, which can be time-consuming, and prone to errors. Barcodes provide an efficient and reliable way to store and access rental equipment.

Track Maintenance

Regularly tracking and reporting any maintenance for your rental equipment is a must. This includes documenting any and all repairs, replacements, and upgrades. Keeping a highly organized maintenance log for each piece of equipment is key to knowing how your rental equipment is being used and maintained.

If you use a software, such as EQM Rental Management, maintenance tracking can be as simple as making a few clicks. This type of software is designed to help you manage your rental inventory, and ensure that each piece is up to date. A rental management software can also be a huge help when it comes to scheduling and tracking maintenance.

Update Operating Instructions

Your customers should know how to use your rental equipment properly and safely. Providing clear and updated operating instructions is a must for each piece of equipment. When it comes to safety and liability, you can never be too careful.

Often, manufacturers provide operating instructions and safety guides for their equipment. Having these readily available for each item you rent will ensure that everyone is on the same page about how to operate the equipment. If you use a rental management software like EQM Rental Management, you’ll be able to store all of your operating instructions in one place.

Stay Organized with Checklists

Using checklists is a great way to stay organized and ensure that all of your rental processes are running smoothly. Create a checklist for each piece of equipment that includes details like the condition of the equipment before it is sent out, equipment cleaning and servicing instructions, should the equipment fail, replenishment of consumables, and so on.

Moreover, use a checklist to stay top of the cleaning and safety process. Make sure to inspect each piece of equipment before you send it out to a customer. Creating a checklist of items you need to run through before you send out a rental can help keep all of your rental equipment in tip-top shape and reduce the likelihood of any accidents or damages.

Keep Track of Your Insurance

If you are renting out any kind of equipment, you’ll want to make sure you have the proper insurance coverage. Insurance can help to protect you against any costly damages or accidents. Be sure to review your insurance policy regularly to make sure you have the coverage you need for your rental equipment.

If you ‘re using a rental management software like EQM Rental Management, you can store your insurance documents online and easily access them whenever you need to. This way, you can be sure you always have the documents you need on hand.

Conclusion

Renting out equipment can be a very profitable venture, but it can also be incredibly overwhelming if you don’t have a plan in place for how you are going to manage your inventory. However, with the right approach and the help of powerful rental management software, like EQM Rental Management, you can manage your rental equipment in an organized and efficient way.

Maintaining accurate records, utilizing barcodes, tracking maintenance, updating operating instructions, staying organized with checklists, and keeping track of your insurance are all steps that you can take to ensure you know what’s happening with your rental equipment at all times. In this way, you’ll be able to ensure that your rental business is running smoothly and efficiently.