Rental Management 301: Advanced Rental-Module 1: Rental Operations & the Role of the Rental Manager

Module 1: Rental Operations & the Role of the Rental Manager - Part 1

Video Transcription

Video Summary

A rental manager is responsible for the profitability and management of the rental department, ensuring the company's equipment is earning money. They are also accountable for fleet performance, analyzing which machines are performing well and which are not. They oversee departmental expenses, including payroll and maintenance costs. Daily operations, such as renting equipment and managing inventory, are also part of their responsibilities. It is important for a rental manager to have analysis skills and the ability to find solutions when operations do not run smoothly. They should also be a standalone department, reporting to a higher level within the company due to the significant value of the assets they manage. Additional responsibilities include decision-making on customer qualifications, rental rates, enforcing company policies, hiring and firing employees, implementing standard operating procedures, developing a culture of urgency, conducting training for employees, and ensuring customer satisfaction. The rental manager should possess administrative, people skills, and technical skills, including leadership, salesmanship, negotiation, mechanical aptitude, problem-solving, training, and understanding construction phases.

Keywords

rental manager

fleet performance

departmental expenses

daily operations

analysis skills

customer satisfaction