Rental terms, in plain English.
The words rental yards, and rental software, use every day. Each definition is short, and where Nexovil handles the idea in a specific way, it says how.
- Availability check
- Check-out and check-in
- Damage deposit
- Damage waiver
- Day rate
- Double booking
- E-signature
- Half-open time range
- Maintenance interval
- Pooled item
- QR tag
- Quote portal
- Re-engagement list
- Rental day
- Route sheet
- Row Level Security
- SHA-256 hash
- Sub-processor
- Unit item
- Utilisation
- Weekly rate
- Availability check
- The test that decides whether an item can be added to a quote or booking for given dates. In Nexovil it runs live against the database each time a quote or booking is created.
- Check-out and check-in
- Recording that an item has left the yard with a customer, and later that it has returned, including its condition.
- Damage deposit
- Money held against loss or damage, returned in full or in part once the item has been checked at return.
- Damage waiver
- An agreement that limits the customer's liability for accidental damage, usually for a fee. The terms are set by each rental business.
- Day rate
- The price to rent one item for one rental day.
- Double booking
- Two reservations for the same item over times that overlap. It happens when availability is recorded in more than one place, or is displayed but not enforced.
- E-signature
- A signature given electronically. A defensible record keeps evidence of who signed, when, and exactly what they signed.
- Half-open time range
- A rental period that includes its start and excludes its end. It lets one rental finish at noon and the next begin at noon without a false conflict.
- Maintenance interval
- How often an item needs service, measured in calendar days or in number of rentals. Nexovil supports both.
- Pooled item
- An item tracked by quantity, such as chairs, tables or linens. A booking reduces the quantity available for those dates.
- QR tag
- A printed QR code attached to an item. Scanning it with a phone camera identifies the item for check-out and check-in.
- Quote portal
- A page where a customer accepts or declines a quote online, usually with an expiry date and reminders before it lapses.
- Re-engagement list
- A list of past customers who have not rented for a set period, used for follow-up calls. Nexovil lists customers quiet for 90 days.
- Rental day
- The unit used to price a rental. In Nexovil each started 24-hour period counts as one rental day.
- Route sheet
- A single printable page listing a driver's deliveries and pickups for the day, in order, grouped by address.
- Row Level Security
- A database feature that decides, row by row, which signed-in user may read or change a record. It keeps one customer's data separate from another's inside the same database.
- SHA-256 hash
- A fixed-length fingerprint of a file. If the file changes by even one character the fingerprint changes, so a stored hash shows whether a signed document has been altered.
- Sub-processor
- A company that handles customer data on a software provider's behalf, such as for hosting, payments or email delivery.
- Unit item
- An individually tracked item with its own tag and history, such as a tent, a trailer or a generator.
- Utilisation
- The share of time an item is out on rental compared with the time it could be. Persistently low utilisation suggests the price or the stock level needs a second look.
- Weekly rate
- A reduced price that applies when a rental lasts several days. In Nexovil it applies from 7 days.
See these ideas working together on the features page, or read how to stop double bookings.
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