With the shifting business culture, the rental company is a potential one. Many industries rely on rental products to manage their operations rather than investing large sums of money in the purchase of expensive machines and instruments. Construction, agriculture, transportation, and a variety of other industries rely heavily on the rental industry to run their operations successfully.
The rental business is flourishing across the world as the need for rented products for managing different business operations is on the rise.
Renting space for parties and events, renting furniture support for event organization, construction equipment rental, vehicle rental, clothing rental, and many other rental ventures are flourishing in different parts. The latest in the stores is office space for rent for individuals and freelance workers.
Odoo Rental is the lone Rental business management software system that will meet all your needs. It is befitting to your requirements and can manage different tasks and orders easily. This will support us to manage all aspects of the rental business from rental quotation management, rental order creation, and invoice and payment management. Odoo Rental can be considered as the finest tool that will bring in all your rental operations to a single platform. Odoo Rental can be used to manage different types of rental operations including space renting and product renting.
For easy management of the business, proper channels for accepting rental bookings from clients, managing the pickup of rental products, and managing the return of rental products must be organized. This will assist the company in tracking rental products and managing orders depending on product availability.
Customers may quickly pick up things, and the rental manager can keep track of pickup and return times. It also allows us to reserve the item and have it ready for pickup on the specified date. The return status can also be observed, which will assist us in planning the future transaction. It also controls delayed returns and delay costs, in addition to assisting with goods returns. With the help of this instrument, the extra charges for later hours and days will be automatically added to the rental amount.
This app will work for all kinds of Rental business/Industry. You can use this app to rent any kind of Products/Items, Home, Car, Bike, Service on Rent, AC, TV, Office Rent, and many more. It is made generic so it can fit all industries.
Feature of Rental Module : We can check in all the features in a brief format so that you will get a comprehensive idea of the software tool.
- Allow Sales Manager to create Rental Products.
- Allow custom notes to add on rental products which will be shown on Website shop/Ecommerce. You can also use Odoo Website to market your properties with the help of Odoo other apps. This enhances your online presence.
- Every rental payment, outstanding, and balances are recorded therefore you can easily track your payments and schedule notifications for the reminders to the tenants for the rent due. If you are using Odoo invoicing you can easily generate invoices too.
- It will allow product stock availability on website shops for rental products.
- Customers can buy rental products directly using Odoo Shop/Ecommerce. This will create a Rental order (Odoo Orders) in the backend and contract automatically. Allow your customers to select the start date and end date for rent of that product.
- Rental contract/agreement will be created per rental/order lines. For example if you are having 3 rental lines in order then the system will create three different contracts/agreements by considering start and end dates.
- Handle maintenance and unexpected repairs within the issue management where you can easily put the issues your tenants are facing through which quick actions and issues can be addressed.
- Odoo Rental Module is a tool that has been designed in a user-friendly manner. With a modern and user-friendly interface, this tool will help the users to manage and organize all required information the best way.
- You can further customize this Odoo rental management app as per your business requirements by integrating and customizing workflows and processes based on your business.
- With Odoo Rental we can manage all the operations with the help of a single platform and everything can be tracked simultaneously. As we can store and manage the details of the customers and the payment terms and methods, data entry work is minimal for completing the rental process.
- Odoo Rental Module can be integrated easily with Odoo Inventory, Odoo Field Services, Odoo Helpdesk, Odoo Subscription, Odoo Repair, Odoo Accounting, Odoo Quality, etc
- Odoo Rental Module allows the users to generate Order Analysis. This will help us to assess daily order quantity based on different dates. We can also generate a graphical or pivot report of daily amount generation, pick up the quantity, and return the quantity. The analysis can be made based on invoicing data, serial number, customer, rental period, and product.
- We can track the product from the creation of the quotation. Odoo Rental allows us to ensure that the rental product is available even before allocating rental orders. We can also track the picked-up products, returned products, delayed returns, and other information.
We must first generate a rental order with Odoo rental module order to coordinate pick-up and return. Let’s look at how to make a rental management order and keep track of the pickup schedule.
To use this module, first you have to install the Rental Module from the Odoo Apps. Then click on the Rental Module, now you can see the dashboard of this.
When you click on an order a new window appears with the details of the order. There is an option to edit and modify the order on the top-left. Moreover, we can create a new order directly from the dashboard or from the order details window. For reference you can see the screenshot below.
If you want to create a new order then click on the “Create button”, a new window will open and you have to fill in the details.
When we click on the create button, it will be redirected to a new page. We can enter all customer details like name, address, and such. We can also set an expiration date for the order. The payment term can be set as immediate payment or a given time scale.
In the order lines tab, we can add the products for the quotation. Click on add a product to select from the available products. We can also select the tax for the product from the tax options.
We must now proceed to Order Lines in order to input the product specifics. The order line can include the product name, description, quantity, unit of measure, packages, unit price, taxes, and discount %. The subtotal will be calculated automatically.
When I selected the rental product as Printer, a pop-up box appeared. Dates: From and to dates, or the rental time of the specific goods can be found here. The duration, amount, and serial numbers to be added can also be found here. The unit pricing was chosen automatically based on the price we set when the product was established. We can also discover a unit price per day underneath the unit pricing, as well as charges per extra hour and extra day.
The product must now be added to the Order Line. We can see that the order line’s details have been automatically filled in. After adding taxes to the sum, we can calculate the entire amount on the rental activity. For reference you can see the above screenshot.
We can add optional products in the following tab. The other info tab will feed sales and delivery-related info. Once finished we can confirm and send it by email. The new order created will then be available in the dashboard.
We may save the adjustments and then confirm the order now that all of the information has been included.
After confirmation you can see the following image.
Now when you click on the dashboard you can see the order available which we have created above. For reference you can see the screenshot below.
We can also pick up the product. This time, though, the status is changed to Sales Orders. We can also generate an invoice, cancel the order, and sign paperwork. When we check the Rental Order page after unlocking, we see that the rental order status is confirmed.
Let’s have a look at what happens when you click the invoice. A new window has been pop-up.
From the above screenshot you can see that there are three types of invoice you can create. So you can choose one of them and then click on the “Create and view invoice”.
Now we can confirm the pick up. Let’s see what happens when we click on the pickup button. For reference you can consider the following screenshots.
Now click on the Validate button. The status switches to Picked-up once we click to validate. For reference you can see the above screenshot.
Orders : The orders menu on the top bar has the option to sort and manage the orders and customers. We can also filter and view the pickup and return for the day from this menu.
The customer menu will give an overview of the existing customers. We can create new customers in this window. The existing customer details can be edited by selecting the customer.
And you can also create a new customer with the help of the “Create button”.
Schedule Rental : This window will display the schedule for rentals in the current month. The customer name and order quantity are displayed on the corresponding product column. We can shift between daily, weekly, monthly, and yearly views. This overview will also bring to attention the conflicts in orders.
In order to see the schedules: Go to Rental > Schedule
Elaborate Gantt chart view eliminates confusion in schedule and helps inefficient workflow of your business. Rows can be expanded and collapsed with the consecutively named buttons on the top right-hand side. In addition to filters like Quotations, Confirmed orders, To Do Today, Late one can add custom filters also.
Returns : When a rented product is returned, we can click on the return button from the sales order. This will display a pop-up with the details of the product. The return can be validated from this pop-up.
I hope this information is helpful for you to understand the Rental Module. For more information and enterprise-related services visit our website planet-odoo