HyreCar’s Marketplace helps vehicle owners create a new revenue stream from their idle inventory. Whether you own one spare car or have a fleet of cars on your lot, you are in control of your destiny!
This Success Guide is designed to help Owners understand key processes and policies while also advising you on the best practices so you can become profitable right away.
We’ve focused on the top 10 areas listed below to help you get your HyreCar rental operation streamlined.
- Creating Your Account
- Car Guide, Potential Earnings & Pricing
- Steps to Starting Your Rental
- Protection Plans Explained
- Protection Plan – Periods of Coverage
- Accidents – Claims Process
- Owner & Driver Communication Advice
- Ticket Management
- Tolls – Suggested Procedure
- Late Rentals – When a Driver Goes Delinquent
1. Creating your Account
In order to create your HyreCar account, you must first log into the owner dashboard website and follow these key steps to ensure everything is compliant.
Key points to remember – Account Set Up
- From your dashboard, be sure to review the following information:
- The ‘ACH’ tab is required to be fully completed so we can automatically send you your rental revenue
- This is where you add your vehicle pick-up location and add your profile image or company logo
- Set up your ‘quick replies’ messaging templates for your Driver communications under the ‘Inbox’ tab
- You can find a few guides, blogs, and HyreCar affiliate information to make your rental operation run smoother.
Key points to remember – Inventory
Trackers & GPS
- Trackers are a requirement for the HyreCar platform. Our physical damage protection plans require a telematics device; otherwise, the coverage afforded will not be valid.
- Telematics are also the strongest available tool to help you maximize your revenue and manage your vehicle or fleet.
- Passtime offers a tracker that has a suite of features to help you protect your assets. You can inquire here.
- HyreCar’s protection plans offer temporary coverage during an active rental.
- Vehicle owners are required to provide proof of insurance for vehicle coverage when your vehicle is NOT rented out on HyreCar.
- The insurance is required to cover the vehicle to your State’s required minimum coverages and also allows you to register the vehicle against this coverage.
- Period X is a company that offers a tailored policy that you can find out more about here.
- Proof of insurance is required to be uploaded with your listing in your HyreCar dashboard.
To be rented out and approved for use in the gig economy, the vehicle must be compliantly registered. Proof of registration is also required in order to be uploaded with your listing in your HyreCar dashboard.
Vehicle Rideshare Inspection
Uber requires a vehicle inspection in some states (not all) to be completed by a certified mechanic. You can access that inspection form here.
2. Car Guide, Potential Earnings & Pricing
Listing your first car is simple and only takes a few minutes. Check out our step-by-step video instructions.
Suggested Inventory Guide
Optimizing your vehicle listing is one of the most important factors to becoming successful on the HyreCar platform.
As a vehicle owner, you always have the freedom to price your vehicle. However, based on our internal insights, we recommend listing vehicles at or below the median rented price in their location for platform success and high utilization rates.
For vehicle types, economical options with great MPG will go a long way!
3. Steps to starting your rental
Make sure you have your vehicle documents up to date, your vehicle cleaned, and the car is ready to go. Get in touch with the Driver to arrange a time and place to pick up the car. Check the Driver in, activate the rental, and start earning.
4. Protection Plans explained
HyreCar’s Protection Plans provide a variety of coverage options giving Owners the flexibility to conveniently choose coverage and reimbursement levels they would like to receive while their vehicle(s) are rented on the HyreCar platform. These Protection Plans include physical damage and liability coverages. There are additional ‘incidental coverages’ for rental-related incidents, such as cleaning fees and mileage overage fees.
5. Protection Plan – Periods of Coverage
HyreCar’s Protection Plans offer physical damage and liability coverages that are in effect during an active rental while the Driver is NOT working for their gig app of choice. A general rule of thumb regarding coverage is if the Driver is working for their gig app at the time of an accident, then their gig app’s insurance supersedes HyreCar’s protection plans. When accidents occur at a time when Drivers are not actively working, then HyreCar’s protection plan is the primary coverage.
6. Accidents – Claims Process
In the unfortunate event of an accident, please remember the following steps.
- Make sure all parties involved are ok.
- Work with your Driver to get all the details of what happened
- Obtaining as many pictures as possible helps, and a police report is required to be submitted if one is issued.
- Confirm if the accident happened while they were working for their gig app or not.
All upfront evidence and information will help the adjuster complete their claim investigation in a timely manner. Missing details or documents can hold up the claims process.
Check out this video for more info on how to report a HyreCar damage claim.
Please see the full, itemized, protection plan terms of service here.
7. Owner & Driver Communication Advice
As soon as you successfully accept a rental request, the simple first step is to reach out to your Driver to arrange your pick up time and location. The pick up stage is the perfect time to establish strong relations with your Driver. Most rentals, if successful, could last for several weeks, so it’s best to walk through all the aspects of the rental as itemized below.
Similarly, it’s a good idea to check in with your Driver throughout the rental to see how they’re doing and remember to touch base with them when oil changes and maintenance may be required.
8. Ticket Management
Drivers are financially responsible for moving violations, tickets, and tolls incurred during the rental period; including tolls incurred while using an Owner’s transponder device. Drivers are not liable for tickets related to vehicle compliance or registration. For example, tickets for tinted windows, “fix-it” tickets, or tickets for lapsed insurance.
9. Tolls – Suggested Procedure
HyreCar Protection Plans do not provide coverage for toll fees incurred during HyreCar rentals. However, we would like to provide some best practices for our valued Owners and Drivers to best resolve these costs as they arise.
10. Late Rentals – When a Driver is Past Due on Rental Fees
Communication is key. Reaching out to the Driver immediately if they are ever late on payments is important. Should their extension payments fail, determine how and when they can catch up with those payments or return the vehicle.
Below is a suggested procedure to adopt in the case of a late rental.
We understand that as an Owner, you want to feel confident and secure about renting out your vehicle. We hope that this guide has provided some clarity and guidance on how the HyreCar platform works and how you can best protect your vehicle while it’s being rented..
To Summarize, key takeaways to consider are:
- Establish good communication with your driver from the start
- Review the checklist above of things to go over with your driver during pick up
- Check-in with your driver periodically throughout the rental
- Have a plan in place for late rentals in terms of payment or returning the vehicle
- Review HyreCar’s Protection Plans to determine what coverages are right for you
- Be aware of ticket management and toll procedures
As always, our team is here to support you every step of the way – please don’t hesitate to reach out should you have any questions or concerns.
Thank you for being a part of the HyreCar community!