Rental Training Online Course Summaries

Introduction to Rent-to-Own

This course will introduce the student to the rent-to-own industry and the rent-to-own transaction. It provides a brief history of the industry, and explains how RTO transactions operate in the marketplace, who uses RTO, and what distinguishes rent-to-own transactions from retail transactions. Students will also receive an overview of the rules and regulations that govern rent-to-own transactions, knowledge about what products are typically carried in rental stores, and information on the different careers found within the industry.

After studying this course, students will understand...

  • The rent-to-own industry and the rent-to-own transaction
  • A brief history of the rent-to-own industry
  • How rent-to-own transactions operate in the marketplace
  • Who uses rent-to-own transactions
  • What distinguishes rent-to-own transactions from retail transactions
  • The rules and regulations that govern rent-to-own transactions in general
  • How rent-to-own products are priced
  • What products are carried in rental stores
  • The qualities of successful rental employees

Course lessons include...

  • Lesson 1: Introduction, History of Rent-To-Own, and Customer Intent
  • Lesson 2: The Rent-To-Own Application and Agreement
  • Lesson 3: Delivery, Installation, and Management of the Rent-To-Own Account
  • Lesson 4: Communicating with Customers; Rent-to-Own Service and Termination of the Agreement
  • Lesson 5: Collections in Rent-To-Own
  • Lesson 6: Rent-To-Own Pricing and Regulations
  • Lesson 7: Rent-To-Own Products, Customers, and Employees
 


 

Rental Delivery & Safety

Get those units out,” is a very familiar call heard in most rent-to-own stores. A key component of that call is getting the merchandise to the customer’s home and set-up safely and in a professional manner so the customer is completely satisfied. This is not the “delivery guy’s” job, but the duty of all employees in the rent-to-own store. This course is designed not just for the person who makes deliveries in the store, but for any employee tasked with providing ultimate customer satisfaction—that’s everyone!

Specifically, the course is designed to help employees...

  • Recognize the role that proper delivery, set-up, and demonstration play in customer satisfaction and the continuation of the rental relationship
  • Identify the key components of a proper pre-delivery audit
  • Identify proper techniques and concepts critical to delivering product to the customer
  • Recognize safety’s importance throughout the delivery process
  • Identify important concepts in providing technical service of the products offered through the rental-purchase transaction

Course lessons include...

  • Lesson 1: Customer Satisfaction and the Delivery
  • Lesson 2: The Pre-delivery Phase
  • Lesson 3: Delivery or Drop-off?
  • Lesson 4: Safety and the Rental Agreement
  • Lesson 5: Service after the Sale
 


 

Account Management in Rent-to-Own

Every rent-to-own store employs a varying number of men and women who are often referred to as Account Managers or Account Reps. They are every company’s front line link to their customers and their product, charged with the sometimes tough job of maintaining customer accounts. Although every store employee must communicate with customers for various reasons, the ongoing, daily maintenance of most customer accounts falls on the shoulders of the Account Manager.

This course will challenge the learner to...

  • Understand the critical nature of customer relations in a rent-to-own store
  • Relate that understanding to overall daily store operation
  • Develop the skill set required to maintain customer accounts

Account Management is a broad term that can include...

  • The explanation of the rent-to-own program of service
  • Delivery and set-up of the rented product in the customer’s residence
  • Repairing the rented product or switching it out with a replacement unit
  • Maintaining direct contact with every customer who fails to make the required renewal payment to keep their agreement active
  • Other related store duties

Since the customer does not obtain any ownership rights until they have made the specified number of renewal payments, account management is critical to the success of every rent to own store.

Course lessons include...

  • Lesson 1: Managing a customer’s perceptions of the store, the company, and the program
  • Lesson 2: Delivery and set-up of the product
  • Lesson 3: Renewal of the Rental Agreement
  • Lesson 4: Service and maintenance of the product
  • Lesson 5: What happens when the customer fails to renew the Agreement on time
  • Lesson 6: Repairing customer relationships when they go wrong
  • Lesson 7: The importance of consistent excellence in Account Management
 


 

Customer Satisfaction in Rent-to-Own

This course will help students learn what it takes to satisfy the needs of today’s rent-to-own customer.

All successful rent-to-own companies, through their employees, work hard each day to satisfy the needs of their customers. It is obvious that RTO professionals are doing something right—the industry has revenues of nearly $6 billion annually—and that’s a lot of satisfaction!

This course shows how the RTO customer service professional is called on every day to match products, services, programs, and policies with the needs of the customer. This module is designed to help the student do that in a way that satisfies the goals of the customer, the company, and the employee. It primarily focuses on the “sales” part of the rental purchase transaction; however, the student is shown how to apply the course concepts to the delivery and collection stages.

After studying this course, students will understand...

  • What creates customer satisfaction, and why it is important to search for win/win/win situations when satisfying customer needs
  • Who the “typical” rent-to-own customer is, and how to build valuable relationships with them
  • How companies build value for the customer, and what role a company’s reputation plays in its success
  • What role customer satisfaction representatives play in making a winning environment possible for the customer, the company and themselves
  • Different ideas and ways to create ultimate customer satisfaction

Course lessons include...

  • Lesson 1: Customer Satisfaction
  • Lesson 2: The Rent-To-Own Customer
  • Lesson 3: The Rent-To-Own Company
  • Lesson 4: The Customer Satisfaction Representative
  • Lesson 5: The Satisfaction Process
 


 

Communications in the Rent-to-Own workplace

What are you communicating right now? Even if you aren’t speaking or writing words—you are communicating through your current and past actions, your expressions, your body language and the way you dress. Wouldn’t you like to improve your message?

This course is designed to provide the rental store-level employee with communications skills that will allow him or her to effectively interact with customers and co-workers. The development of these skills will allow the individual to grow as an employee and have a greater impact on their store’s growth and profit.

Specifically, the student will learn the following...

  • The difference between verbalizing and communicating
  • The role listening plays in becoming an effective communicator
  • How credibility as a communicator translates into the “trust factor” critical for an RTO employee
  • How to listen for feeling as well as fact; the message of body language and voice inflection
  • How to increase rentals by more effective rapport with customers
  • Communication and its impact on your future in RTO

Course lessons include...

  • Lesson 1: The Essence of Communication
  • Lesson 2: The Power of Listening
  • Lesson 3: Communication and Closing the Transaction
  • Lesson 4: Establishing Credibility as a Communicator
  • Lesson 5: Non-Verbal Communications
  • Lesson 6: Communications in the Workplace
  • Lesson 7: Communications and Customer Complaints