Best way to protect myself from rental theft and/or damage?

Hi there,

I've got a recently validated business Idea and i'm now exploring the ins and outs of my new business. 

One of the first major hurdles is dealing with the potential of people not returning or damaging my rental equipment.

I know Checkfront does not pre-auth payments/save details so that leads me to my question... what is the best way to protect myself?

Thanks
Mike

Comments

  • BrittanyBrittany Checkfront
    Hi Mike,

    Thanks for your question!

    While we don't currently offer credit card holds/pre-authorized payments without processing some initial payment, I can say that it's common for equipment rental business to charge a small fee at the time of booking.

    For example, a 5%-10% security deposit at the time of booking along with a payment gateway that offers rebilling, such as Stripe or Square, would tokenize the credit card and allow for you to recharge the card on file within a certain window of time; relative to your payment gateway.

    It's also common that these damage deposit/fees be described in the policy so that customers agree to those terms.

    I hope this helps to point you in the right direction but please let us know if any questions come up.

    Take care,
    Brittany
    Technical Support Specialist
    Checkfront | www.checkfront.com/contact | Email: support@checkfront.com
  • Great Brittany, thanks for getting back to me!

    So if I was to charge (for example) £20 for a rental fee, I would then able to 'recharge' an amount? I my case it would be the price to replace the camera at around £300+.

    If yes, would this be done through Stripe? Or Checkfront?

    Thanks
    Mike
  • Hi Mike,

    Thanks for your reply!

    You should be able to add a 'damage fee' item to the booking in Checkfront (if applicable) and then recharge the card for the outstanding amount in Checkfront from the invoice.

    I'm glad to demonstrate this for you if you'd like. Just send us an email at support@checkfront.com with your account information and we can provide a step-by-step process in a test environment of your account.

    Looking forward to hearing from you.

    All the best,

    Kalem

    Technical Support Specialist

    Checkfront | www.checkfront.com/contact | Email: support@checkfront.com

  • Hello Kalem, Thanks for that. It sounds like that might be what I want to do.

    I do not have an account just yet as I'm just trying to find the right system to use for my business

    Whilst writing this, I have created a free trial account. Hopefully I can try it with this? I'll drop an email to support right now.

    Thanks
    Mike

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