Rental Management 301: Advanced Rental-Module 3: Financial Management

Module 3: Financial Management - Part 1

Video Transcription

Video Summary

Being an effective rental manager involves effectively managing the financial aspects of the job. This includes managing people, processes, and products to drive revenue and create profit. In the rental business, it is important to focus on rent-to-rent as it yields higher profitability compared to machine sales. The average dealer's net before taxes is 3.9%, while high-performing dealers achieve 7.6% by having a different mix of revenue, particularly from rent-to-rent. The Cost of Doing Business survey by AED provides industry insights that can help dealers improve profitability. Therefore, it is crucial for rental managers to excel in their role.

Keywords

rental manager

financial aspects

revenue

profit

rent-to-rent