Why Car Rental Companies Insist On Credit Card For Obtaining Reservation?
All the major car rental companies insist on payments
by credit card. This is a standard practice because
credit cards are fast, secure and reliable.
Almost every company in the field of car renting
demands a credit card while renting the car. Apart
from seeking credit card, an authorization is also
This is basically done to cover any expenses related
to potential damages that may be caused due to a
number of factors. In short, the credit card is a kind
of security deposit against damage or loss that may be
In case the car is returned in perfect condition, no
charge is levied by the car rental company. In such a
case, the only fee charged is the rental fee.
If there is any damage to the car, the car rental
company will instantly charge the damage cover. This
is done as per the terms and conditions of the
The car rental company does not add up to the credit
immediately after renting the car. The only amount
that is charged is an advanced charge approval.
This means that some amount is reserved by the car
rental company from the credit card. This amount is
reserved as an amount that you may have to pay in case
of damage to the car.
The car rental companies do not accept debit cards or
a check card. The main reason is because it is not
possible for the car rental companies to process
advance charge approval for the car damage.
The Ins and Outs of Europe Car Rental
Cha-Ching! It's the first week of the month and time to cash these checks. It is not always easy, but I love owning rentals; especially now when rents are through the roof. The challenge now is finding property to buy. If you were lucky enough to pick up a few properties the last few years you are likely doing very well, but maybe you could be doing even better! Here are four ways to do even better on your rental portfolio.Consider renting extra space separately. There is a tremendous amount of upside in this. Garages immediately come to mind, but I have also rented storage sheds separately and have heard of people renting sections of the lot for horse boarding or additional storage.I have a property now that I rent the garage out separately. It is a two car garage that I rent for $200 a month. This one strategy increases my revenue by 10% and there is little to no expenses with the garage lease, so it actually increases profits by more than that!Rent extra items. I have heard of rental property owners renting out items such as TVs, computers, or furniture to increase revenue. I have not done that, but I have rented washer/dryers separately. Washers and dryers tend to break down so I will never include them with my rental units. If I buy a property with a washer/dryer or I get one from a tenant that has moved out, I will typically either offer it to the tenant for free or rent it to them. Obviously, renting the washer and dryer will increase the monthly cash flow, but you will be responsible if something goes wrong. It could increase your headache, but it will also increase your profits. If the tenant does not want to rent them from you, you can offer it to them for free or you will want to remove them. The last thing you want is the responsibility of insuring the washer and dryer works without any income for the additional hassle.Maintenance - I just had my maintenance team go out to a rental to unclog a shower drain. I got a bill for the service for $125. On the invoice it mentioned that he found hair in the drain. Why is it my responsibility to clear a drain that the tenant clogged? Well the answer is... it's not. My lease states that I am not responsible for any clogged drain, so when I got the invoice I created an invoice that I sent to the tenant with a copy of the lease and a copy of the invoice I received for the maintenance call. I just got the $125 check in the mail today. Now the tenant is conditioned to take better care of the unit because I am not paying for issues they create.The other thing about maintenance that has worked really well for me is to take care of items that I am responsible for right away. I do not delay at all. When I get a maintenance call, I will get my team on it right away. The tenant will normally hear from the person scheduled to fix the issue the same day. This has really helped me keep tenants. I have had tenants tell me several times how much they appreciate that. It is not uncommon for a tenant to ask me to rent them another place when they decide to move, and it is also not uncommon for me to hear that a tenant stayed longer than they wanted simply because I took care of them.As I mentioned, buying rentals is challenging right now, so this is the perfect time to work on increasing profits on your current portfolio. This will help you exponentially down the road as you do find additional properties.
Car Rentals For Alicante, Benidorm And Torrevieja
"My time's limited... how do I choose?"Car rental is a hot topic for vacationers headed to Costa Rica. Recent research conducted by the Costa Rican Institute of Tourism (ICT) indicates that, after accommodations, renting a car is the largest expense, averaging $702 for an eleven-day vacation.The Internet is buzzing with negative reviews discussing overcharging, poor customer service and mechanical breakdowns. You might have even written one yourself!A typical midsize (3 - 4 adults) 4X4 rental runs between $58 and $65 daily with third party insurance and rates can vary as much as 20 percent among car rental companies, so reading a quick review will be time well spent once you calculate the savings.So the question is; which rental company offers the best balance of fair price, capable customer service and reliable vehicles? I've researched it all for you, so keep reading!Disclosure: This research was conducted in May - July 2013. The following companies were selected because they are the most widely used in Costa Rica. Some are local companies; others are international franchises of recognized brand names. Comparisons include: customer service, pricing and the reservation process. The companies are listed alphabetically and not based on personal or online preferences. Consider this information before renting:InsuranceOne of the biggest causes for complaints is from the stack of unforeseen charges presented to the renter once standing at the rental company's counter. Vacationers are typically tired after a long flight and then are confronted by costs that were not anticipated, explained or budgeted.Topping the list of grievances is the non-disclosure of fees associated with the mandatory third-party insurance at the time the reservation is made.According to Costa Rican law, every driver is required to carry liability coverage to insure against injuries to third parties. Car rental companies generally refrain from disclosing the cost of this policy in the quoted rental rate to appear more competitive. Mandatory third-party insurance can sometimes be as much as double the vehicle's rental cost. The only guarantee against insurance confusion is to inquire if your estimate includes the third party insurance and insist on a written quotation.Cost of Mandatory Insurance (also called Third Party or SLI)Expect to pay between $12 and $15 daily for this insurance, depending on the make and model of the rented vehicle and the rental car agency. This is a legal condition of your rental agreement and is generally not covered by credit cards and cannot be waived. It's a fact of renting a car in Costa Rica.Collision Damage Waiver (CDW)As the name suggests, this isn't insurance, but a waiver, which relieves the renter from any liability for damage to the rental car after the deductible is paid (usually from $750 to $1,500). Some agencies require renters to purchase their CDW policy; thereby negating any credit card program. For an additional fee, many agencies do offer a zero liability option where the renter will be freed from paying for any damage to the car. Some companies may put pressure upon renters to purchase the zero liability coverage; however, it is entirely optional, unless it is in the fine print of their rental agreement.Credit card insurance programs may cover the CDW for a rental vehicle. Check with your chosen rental car company to find which proof of insurance is needed and then request that from your credit card company prior to arriving. If you use your credit card's CDW policy, expect to pay a higher deposit on the vehicle; around $1,500 to $2000 is common. The higher deposit ensures that the credit card holder has enough financial reserves to cover damages if needed. It is important to consider that if using CDW coverage provided by a credit card (in lieu of the rent a car operator), all damages will be billed to the renter's credit card. The credit card company will then reimburse the card holder for damages.More InsuranceTires and windshields are rarely included in insurance policies, although additional policies may be taken out for covering these frequently damaged items. Neither the interior nor the underneath of the vehicle may be covered. Always read the fine print.Standard ProcedureYour credit card will be charged, or a 'hold' placed, for the rental vehicle during the time of the rental agreement; i.e. from picking up the rental until you return it. Debit cards are generally not acceptable.Additional ChargesMost companies have surcharges for additional drivers, car seats/boosters, cell phones, coolers, GPS and/or roof racks. The costs vary from company to company, but since these extras are billed at a daily rate, it is worth checking the total cost -- additional options can add up very quickly! A GPS is around $8 to $10 per day; however, some operators may offer discounted units. Expect to pay around $5 daily for a child seat and a few dollars a day for all the other 'niceties'. Vamos is notable for offering most of these options and, during some promotions, even the GPS rental complimentarily. Alamo, Budget, Hertz and National charge the most for such additional options; whereas the other companies listed, charge more reasonable prices.Toll-free U.S.A and Canada phone number. No Live Chat. 4 offices nationwide Mandatory insurance: $19.99 daily Additional charges: GPS $10/day, child seat $5/dayVamosWebsite is clear and easy to use. Mandatory insurance costs are not given along side the list of vehicles and rental charges, but are clearly displayed on the following page as the customer moves towards booking a reservation. Anibal, a representative, is frequently mentioned in online reviews for his high level of customer service skills. General Manager, George Schwarzenbach is known on Trip Advisor for his upfront and honest responses to customers' posts.In recent years, Vamos has received very positive reviews online. Email response is less than 24 hours. Live Chat has instant response time to inquiries.Toll-free U.S.A and Canada phone number. Live Chat. 3 offices nationwide Mandatory insurance: $11.95 daily Additional charges: GPS $8/day, child seat freeWild RiderWebsite is clear and easy to use. Mandatory insurance costs are given next to the list of vehicles. Wild Rider is the only car rental firm in Costa Rica with no visible bad reviews online. Owner, Thorsten, is often praised for his efficiency and customer service, despite the very limited resources the company has at hand. Emails receive very prompt and detailed responses in less than 12 hours.No toll-free phone number or Live Chat 1 office -- no Liberia airport office Mandatory insurance: included Additional charges: GPS $8/day, child seat $5/dayComparison ReviewCustomer ServiceVamos and Wild Rider respond quickly and efficiently to email or live chat inquiries. Adobe, Alamo, Dollar, Hertz, National, and Service respond to email inquiries in less than 24 hours, but Adobe and Service did not provide all the information requested (possibly a language barrier). Budget offers a free phone service, but it appears to be always busy. Hertz's live chat appears to be constantly offline. During the past year, customers who posted to online review sites expressed a particular satisfaction with the customer service offered by Service, Vamos and Wild Rider.ClarityAdobe, Alamo and Budget have different rental prices posted on their websites than those quoted over the phone. Telephone prices were lower than that quoted on the website in the cases of Adobe and Alamo, but yet higher in the case of Budget. Adobe also offers different vehicle models over the phone as compared to their website. International car rental firms with both a Costa Rican and international website appear to have pricing differences between the two sites.Budget and Wild Rider include the mandatory insurance in their rental prices, but Budget states that 'other charges' which will be presented at the counter in the small print on their website. Rental prices for car seating had to be verified on the phone as they are not listed on the Budget website.All other companies with the exception of Thrifty (a U.S. website), clearly show the mandatory insurance cost with the quotation given. Thrifty's Costa Rican website is simply unusable.PricingService, Vamos and Wild Rider consistently offer the best rates for both Green and High seasons, although Dollar has one of the lowest Green season rates available, while Adobe has a cheaper High season rate. Vamos offer the best "all inclusive" rates, given that most options are offered for free.Adobe, Dollar, Service, Thrifty and Wild Rider remain competitive with their pricing of items such as child seats. Alamo, Hertz and National are the most expensive companies to rent from and their additional option costs are also more expensive."So, what's your rental recommendation?"Overall, the Costa Rican companies seem to trump the multi-nationals with better pricing, service and clarity. Service offers a generally high-level of customer service and fairly competitive pricing at both international airports. Vamos can offer efficient booking and continued high-level of customer service with competitive pricing, as well as free additional options at both SJO and LIR airports. Wild Rider is very highly rated for a rental with clear and economical pricing and excellent customer service, but they are only in San Jose."Now you're ready to book your rental car after seeing how the competition compares. Good luck and happy travels!"
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