A small thing that can save you a lot of trouble in the rental business is having a spare key for every vehicle. Keys get lost, damaged, locked inside the car, or sometimes renters simply don’t return them when they’re supposed to. Replacing a key on short notice can also get expensive depending on the vehicle. Having a spare already made means you’re not scrambling to find a solution while the car is sitting somewhere. Keep the spare somewhere secure and separate from the rental vehicle. It’s a small expense upfront that can save you time, money, and a lot of unnecessary headaches later.

One thing that can hurt a rental business is being unprepared for unexpected repairs. Even if a car is running great today, something can still go wrong tomorrow. A starter, alternator, tire, brake job, or transmission issue can take money out of your pocket fast. That’s why I like keeping part of the rental income set aside for maintenance and repairs instead of treating every dollar collected as profit. You don’t need to know exactly when a repair is coming. You just need to be prepared when it does. The goal isn’t to avoid every repair. It’s to make sure one repair doesn’t stop your whole business.

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