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cheyenne.__s

@cheyenne.__s

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Car rental owner & mentor
CEO @keyride.rentals @keyriderentalsluxe
Personal page @__cheyenne.s
More information on starting a rental business:

POSTS STORIES REELS TAGGED

Officially open 🎉

@keyride.rentals x @svautospa

#carrentals #carrentalservice #carrental #carrentalbusiness taken in West Hempstead, New York by @cheyenne.__s

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8 months ago

Like wine 🍷 taken in Miami, Florida by @cheyenne.__s

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4 months ago

I promise you I’m no overnight success story.

Everything comes from years worth of experiences and trial and error.

Link is in my bio!

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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9 months ago

Truths ⬇️

- GMI does give insurance policies for this industry but NOT if you rent to those who do delivery services
- You cannot just rent on an off-trip policy. It’s illegal, unethical and this is being cracked down on. Have people gotten away with? Yes. Do you want to roll the dice?
- Personal policies are last resort and you should be fighting to get your full coverage policy
- Full coverage commercial policies aren’t always expensive. Compared to off trip policies they will obviously be more but several people including myself have and they are under $200. This also depends on your state and vehicle selection and amount of cars in your fleet
- No one can guarantee you a commercial policy (not even me) it’s dependent on your history, state requirements and underwriting.

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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39 minutes ago

You have 3 options for your rental fleet

1. Off trip
2. Liability
3. Full coverage

Off trip tends to be the most abused and as of lately companies are cracking down on it.

If you are using an off trip policy your renter must purchase liability insurance. This was commonly used to save money on insurance because platforms like Turo have insurance but it is NEVER okay to rent a car with off trip insurance.

Commercial liability- which most states require. They will step in regardless of who is driving if no additional insurance was purchased. However this does not cover your vehicle.

Full coverage- The best option that way all parties are covered. It’s still best to protect your policy and have renters purchase insurance.

Looking for help? Link is in my bio

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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4 hours ago

You have to get really good at analyzing potential clients and after enough time you be able to spot things like this out easily.

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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4 days ago

What ROI?

The easiest way to make money off someone is to sell hope.

Do your research make informed decisions.

You want to build something long lasting, you can’t cheat success.

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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7 days ago

Tolls and tickets can break your rental business!

THE BEST TIME TO RECOVER TOLLS AND TICKETS IS WHILE YOUR RENTER IS STILL IN YOUR CAR AND WHILE YOU STILL HAVE A SECURITY DEPOSIT.

✅ Have tolls taken out while renter is going through them
✅ Charge Security Deposit
✅ Keep card on file

The goal is to have multiple cars.
Multiple cars ➡️ Multiple renters ➡️ Multiple tickets and tolls… and we’re going to wait for these in the mail? We’re going to print out rental contracts for each one? Get affidavits for each? Mail each one in? And follow up to confirm it was actually transferred? All while it can be denied and interest can be accruing?

Work smarter, not harder. Having the right processes, requires you to do less work!

Tolls and tickets will eat at profits if you have to cover them. If you don’t pay they end up accruing fees resulting in your cars being towed and possible registration suspensions.

Need help? Link is in my bio

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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a month ago

Gross is not net.

Every business you have to keep reinvesting but there is a difference between reinvesting to grow and just cycling money.

You have expenses as an operator and this is one business where you will see money continuously but does it make sense.

Some of the things that eat at profits :
- Maintenance
- Car note
- Tolls
- Tickets
- Damages caused my renters
- Overhead

Everyone is quick to show what cars make but what were the expenses?

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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6 days ago

Joint Ventures is a good way to get started.

If you are taking a car in:
- The person has no outstanding tolls, tickets or late payments
- Expectations and the money split is clear
- Responsibilities are agreed and signed to
- Give them an understanding of the rental industry, everyone is happy until something goes wrong. Sometimes things will be out of your control
- KEEP THEM IN PLACE THEY ARE NOT YOUR BOSS

If you are giving your car:
- The person is trustworthy
- You get a baseline understanding of the industry there’s a bunch of ebooks online or you can book a call to get advice before handing your car over
- CHECK IN, make sure things are actually getting paid and see your car once in a while

Need help? Link is in my bio

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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8 days ago

So many fail with financed vehicles and when I hear the reason why I am never shocked.

❌ Getting cars without market research and having any motion
❌ Renting them on your personal policy
❌Renting to high risk clients
❌ Renting on Turo
❌ Renting with unlimited mileage
❌ Not paying off the loan sooner with profits

✅ Start off small especially if you are not familiar with your market
✅ Pay for marketing to get you qualified leads
✅ Rent to those who are qualified no exceptions
✅ Get a true rental commercial policy
✅ Use Turo as a stepping stone not as your entire business plan
✅ Make sure you can afford the car note for atleast 3 months (if something went terribly wrong you are prepared)

I started with financed cars and if I had to start over I’d do it the same exact way.

Want to learn more? Link is in my bio!

#carrental #carrentalservice #carrentals #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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2 months ago

Mentorship is so important, getting help from someone who has had success in the same field you are entering is priceless!

Mistakes will happen but they can be minimized.

Find someone’s who business model reflects the path you are choosing, do research and decide.

If you are running a business and look at everything you invested and nothing was put into your knowledge that’s your biggest mistake.

Want help with your rental business? Click the link my bio

#carrental #carrentals #carrentalservice #carrentalbusiness taken in Miami, Florida by @cheyenne.__s

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11 days ago