One of the best features of the Rent to Own module is its automated nature. Your Rent to Own contracts are likely to be made up mostly of customers wanting the payments to be automated, so every month, the Rain system will keep track of each Customer's payments and run charges in the background, automatically, so you don't have to. From time to time, you will have need to work with an in-progress RTO contract, so for those instances and for completing one, this article will detail everything you need to know.
You can access any Rent to Own contract by either clicking on the Register Button on the far left side of the blue Admin Toolbar and loading the Customer, or by going to POS > Rent to Own and clicking on the appropriate Rent to Own ID Number.
Working With Open Rent to Own Contracts
Whenever you need to access an active Rent to Own contract to make a payment or complete it, the fastest place to access your contracts is from the Rent to Own module. Here is what to do:
- Go to POS > Rent to Own to see your list of active Rent to Own contracts. Alternatively, you can load the Customer into the Register, then click on any of the icons above the Date and Time in the upper right to open the Customer Actions panel, then you will see the customer's active RTO Contracts in the left column.
- Click on the Rent to Own ID number if you wish to view the contract terms, a panel will open showing you the full details. Items in this list will not have terms you can edit, as seen below:
- From this window, there are several functions you'll need to know how to use:
- Exchange - (Please Note: this function is only available when viewing the contract from the Register) There are two ways to Exchange an existing RTO contract; you can Exchange to A New Rent to Own Contract, which will merge the existing contract and allow you to add more items and adjust terms. Or you can Exchange to A New Sale. Please note that the contract must be Active (it can't be a Draft) and this function is currently only visible from the Register.
- Return - If the customer backs out, you can click to Return the RTO. When you do so, just for your safety, the system will pop up a confirmation prompt asking you if you really wish to return it and close the RTO contract. It is your option whether or not to return a pro-rated portion of the current period's rental payment or if that payment is non-refundable. This operation will close out the RTO contract and you can print a receipt for the customer that the contract is ended.
- Upload Signed (Contract) - If you wish to use pre-printed contracts, or if you use the Print button below, after you have completed the signatures, you can scan or photograph them, then click this button to upload them to the Rain system cloud for secure storage.
- Print - If you wish to print out the dynamic contract you configured in the Rent to Own Settings area for signature, all fields you entered in that form contract will be auto-filled with the terms you have entered in this panel. You can have the customer initial and sign, then you can either scan the document or photograph it and then it can be uploaded to the Rain system cloud for secure storage.
- Delete - If you wish to start over or if you just need to remove the RTO contract from the system, the Delete button will remove it for you. When you click it, a warning will pop up asking you to confirm that you really want to delete the contract.
- Save - If you changed something, for example, the Auto Pay can be toggle OFF or ON, or the Primary or Secondary Card could have been changed, you can click Save to finalize those changes to the contract.
- Make Payment - This button will load a line item in the Register along with the Customer for whatever payment is next due / past due on the contract. You can also use the Pay button directly from the Rent to Own module (POS > Rent to Own), or if you load the Customer into the Register, you can click on the Customer Actions icons and click the Pay button in the Rent to Own section for the contract they wish to make a payment toward.
- Purchase - Clicking the Purchase button will close the RTO contract and load the remaining principal and any appropriate fees into the Register, where the customer can purchase the item. Please note that if the customer changes their mind after you have done this, the contract remains open until paid out completely, so it will remain in your Active list in the Rent to Own module. This option is not available in a Rent to Rent contract.
Accessing Rent to Own Contracts from the Register
If you already have the Customer loaded into the Register, the fastest way to access their RTO contract will be through the Customer Actions icon in the upper right. Here is what to do:
- In the Register, load the Customer.
- On the far right side of the Register, click on any of the Customer Action icons. If the Customer already has a Rent to Own contract saved in the system, you will see the handshake icon highlighted in gold.
- Find the section for Rent to Own in your Customer Actions panel and click the Rent to Own ID Number to open the contract. Please note that from this area, you can also click the Pay button on any existing RTO listed for the customer.
From this point, you can work with the RTO contract in the ways outlined at the top of this page in step 2 of Working with Open Rent to Own Contracts.