Are you interested in using HyreCar to create a passive income stream that could easily be worth hundreds of dollars a month or even more?
While the service was designed to be as simple as possible, this success guide geared toward users will make it even easier to begin profiting right away.
1. Sell Your Listing
First and foremost, don’t take for granted that, because you’re the one with the car(s), you’re the one with all the options.
Are you familiar with Airbnb? Hosts with a profile that includes nice images, a detailed description, and added benefits to their home/apartment tend to attract more travelers, resulting in more passive income once they list their spare room/apartment. The same concept applies to being a car owner on HyreCar.
HyreCar is becoming extremely popular. That probably won’t change anytime soon, especially as more and more people use HyreCar to drive for Uber, Lyft, and other delivery services.
So, present the best possible profile and you’ll have an easy time getting your car rented quickly so you begin making money with HyreCar.
- Use high-quality photos of your vehicle
- Keep your description short and simple (but accurate) – sell drivers on why they should rent from you instead of other owners
- Upload the documents HyreCar requires (e.g. registration, insurance, driver’s license, and 19-point inspection)
Note: If you haven’t inspected your vehicle yet, you can use services like Rideshare Mechanic to get your vehicles inspected remotely. This service conducts a video vehicle inspection, which eliminates the inconvenient process of going to a Jiffy Lube or local mechanic. No more getting stuck in traffic, wasting money on gas, or dealing with a mechanic who wants to upsell you on other parts. Their cost is comparable to your local mechanic, and you don’t pay unless your car passes the inspection.
Click HERE to sign up with Rideshare Mechanic and get your vehicles inspected quickly and efficiently.
2. Analyze Your Local Market
Here’s a secret that will help you better position yourself as an attractive option for HyreCar drivers: look at what their other options are in your local market.
Otherwise, you may be pricing yourself far too high. You could end up waiting days or even weeks before you realize your mistake, so check for this right away.
That doesn’t mean competition is cutthroat among owners, though.
In fact, many owners report a certain amount of comradery among each other. So, don’t be afraid to reach out to owners with a lot of approved bookings for tips to help grow your business.
3. Your First Application
After you’ve analyzed your market, you should have a much better idea of how to position yourself to start earning money right away.
This includes your payment structure. When starting out, be patient with this metric. Right now, it’s important to get bookings. Keep in mind that payments are made to owners 3-7 days after the driver is charged.
4. Prep Your Vehicle
Owners must make sure to have all current and up-to-date vehicle documentation prior to renting. This includes vehicle registration, inspection, and insurance.
When prepping your vehicle, we also recommend using services to protect your assets with tools like PassTime GPS Solutions, which includes ignition interrupter capabilities. We also encourage you to check out Period X Insurance to cover your vehicles when they are not rented out.
Car cleanliness is also a huge factor to stay on top of. A surefire way to struggle with HyreCar is to have a dirty, poorly-maintained car waiting for your driver when they show up.
So, make a habit of cleaning your vehicle and keeping it in good condition.
You should definitely do this before you take that photo for your profile that we mentioned earlier. You want to put your best foot forward, but you also need to make sure that’s how the vehicle actually looks, too. Make sure to take clear photos of your vehicle prior to pick up to ensure your vehicle is returned in the same condition you rented it out in!
You won’t earn many fans with false advertisement.
A lot of owners simply take 10% of their monthly profits and put it toward their car’s upkeep. You may not need to set aside as much, but the point is, if you have a passive form of income, you should spend some of that money on keeping it. Otherwise, you won’t be enjoying those regular checks for very long.
5. Building the Relationship
There’s no expectation that you and the driver will become best friends, but it’s not a bad idea to build a bit of rapport with them.
Send them a text to introduce yourself, but also make sure that you go over your expectations early on, too. By no means should you allow someone to drive off with your car until you’ve made your expectations crystal clear.
It is also important to clearly communicate with the driver the process you’d like to take if your car is involved in an accident or mechanical issues arise.
Staying in Communication with the Driver
It’s not a bad idea to remain in contact with the driver while they have your vehicle, either. You don’t want to bother them, but you do want them to feel comfortable contacting you back if they need anything or have a question.
Being able to reiterate the importance of paying on time can become very beneficial to owners as well. Although the HyreCar team will also be contacting late drivers, you should not hesitate to explain the late fees they can accumulate during a rental.
Drivers are financially responsible for moving violations, tickets and tolls incurred during the rental period, so feel free to remind them at any point prior or during any rental. For more information on this, please see our policy here.
The driver is also responsible for keeping in touch with you as the end of the rental draws near. They have the option to extend their rental, but if they choose not to extend it, they should confirm that the predetermined drop-off time and place is still acceptable.
6. End of Rental
When the driver drops off your vehicle, you must click “Confirm Drop Off” to formally end the rental.
At that point, examine your vehicle to make sure there wasn’t any damage done to it.
At the end of the rental, we encourage owners to have constructive conversations with the drivers about what they liked or disliked about their rental experience. It is also a good time to provide a business card (or something similar) to increase the likelihood of drivers rebooking your specific cars in the future.
When the rental is over, it is also a great time for owners to track revenue and expenses with tools such as Hurdlr.
How to Handle Issues
If you do notice something is wrong, don’t be timid about bringing it up with HyreCar.
For example, say the driver is late returning your vehicle. You can submit a complaint to support. Even if the driver readily acknowledges an issue, it’s still important that you report it to HyreCar.
Be sure you do so right away, too, and, whenever possible, document it.
As another example, if the driver returns your vehicle with an empty tank or has scratched the bumper, you want to take photos as proof for the HyreCar Support team.
Expanding Your Vehicle Inventory
If you are looking to grow your rental business by adding more vehicles to your fleet, we have the perfect solution for you. We created the HyreCar Fleet Buying Program, powered by TrueCar, to help you get the best prices on vehicles that you can buy and rent out to drivers on our platform.
The HyreCar Fleet Buying Program will give you access to thousands of new and used cars in your area at great terms, perfect for you to continue profiting from your fleet rental business.
As you continue to scale a larger fleet of vehicles, you may also become eligible for HyreCar for Business. Feel free to contact our team for more information and guidance for growing your rental business with HyreCar.
HyreCar is designed to be as user-friendly as possible, but if you run into problems, the good news is that the company has created a very intuitive process for resolving them.
Try going through our Help Center first, as you may be able to get the answers you need with very little effort.
How to Submit a Ticket
That said, sometimes, it may be necessary to request individual attention for your specific problem. In that case, submit a ticket through your portal account. You can do this by clicking the ‘Contact Support’ button at the bottom of our Help Center.
Once you submit your ticket, you should hear back within 24 hours. While that may not necessarily include the actual resolution, HyreCar will be sure to help resolve your issue as quickly as possible.
Of course, you’re free to follow up whenever you want, but you should be able to track the status of your ticket through the portal, too.
Treat HyreCar as a Priority
As you can see, succeeding with HyreCar is a pretty straightforward process. It’s all about taking steps early on that make it easy to enjoy passive profits later.
If there’s any secret to success with HyreCar, though, it’s treating these initial steps as a priority. Give it your full attention. Treat each one as a priority. Do this and you’ll soon have a reliable side income paying you every month.