The Rental Industry is renowned for bad experiences, mistrust and conflict. Why is that? In this blog we want to try and unpack some of the underlying and totally misunderstood issues. To get some discussion going, to improve the service levels and hopefully the general standing and perception of the industry.
I decided to venture into the realm of self-employed Business owner after 25 years as a professional in the Information Systems industry. I knew I had an intrinsic need to find what industry I could zone into where I would be able to make a difference bringing my specific passion and skill set into the equation. I stumbled upon the Rental Industry and my initial research revealed some big flaws, that I initially attributed to lack of process and structure in the Industry.
Since I did not know a thing about Rentals, I thought it would be pertinent to buy a franchise to at least get some input on the basics. I was in for a surprise, after spending some good money I quickly got a reality check. It turns out that the franchise I bought was not much more than a branded, empty shell.
Coming from an Engineering background and finding myself with my back against the wall, I decided to give it a go and figure it out on the job. Over the next 5 years from 2005 we built a Rental Business from scratch, implemented business processes and software systems that we developed ourselves because we could not find suitable solutions in the market that meet our needs. During this period we honed our own rental processes and procedures to such an extent that we could provide a Rental Outsource Service to Real Estate Companies who wanted to offer a Rental Service, but did not have the time, patience or infrastructure to do that. We also experimented with various business models and systems. We used Spreadsheets, PayProp and our own internally developed solution called RPMS (Rental Property Management System).
In 2012, we saw an opportunity to commercialise some of our internally developed solutions and since we were in the industry ourselves, we had a very good grasp on the mechanics of what works and doesn’t in a Rental Company. We used this knowledge to produce what is now known as rpmsOnline.com, a full blown Rental Management Business solution followed by RedRabbit.zone, South Africa’s number one inspection and maintenance management software solution. In 2013 we sold the Rental Business to focus solely on offering our Software to the Rental Market on a SAAS basis.
This blog is about giving back to the industry some of the hard earned knowledge that we have acquired over more than a decade and to get some discussion going on the combined effect that these issues have on the Industry as a whole. It is time to challenge the status quo and to be honest with ourselves.
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