Entrepreneurs are showing a huge interest in car rental marketplace development since the demand is phenomenal. But some entrepreneurs are not aware of the end-users needs and also the problems they are facing to build your car rental marketplace. If you are one of them, then this blog post may help you out. I’m going to share the must-have features which should be available in any of peer to peer car rental marketplace. These features may help you get more customers by providing a better experience and stand out from the crowd to become a successful one in the competition.
Peer to peer car rental marketplace
It is also known as people car sharing and the process whereby existing car owners make their vehicles available for others to rent for a short period of time and also earn some money out of it. It removes an intermediary who connects consumers to product or service providers. This serves as a lower cost, enables faster transactions, and also makes convenient for both the providers and also users.
The business model of car rental marketplace
Choosing the right business model helps to make good revenue and also business growth.
1.Commission-based
In the car rental marketplace, it is the most common feature that the commission-based on fixed or percentage of the transaction value to be cut from the amount paid by the renters. Website owners can charge a nominal fee for every booking from the car owner and also the renter.
2.Featured listing
Another simplest way to earn revenue is featured listing. Car owners who want to get more bookings can brand their listing on the homepage of the website. It helps them to earn more revenue by highlighting the product in top search results. It attracted most of the users and also helps to drive more bookings.
3.Subscription model
It is an essential business model that makes steady monthly revenue by charging car owners a recurring fee. It is most helpful that allows paying a fixed amount of money on fixed time intervals like a monthly or yearly basis. Subscription is a reliable model that doesn’t charge a commission on car owners for every single rental they are getting. This model will lead to higher revenues and also customer retention in the marketplace.
Must-have features in car rental marketplace
Advanced search filters
It is one of the most essential features that help users to search the rental cars according to their preferences, needs like location and also dates. This feature makes them convenient to process the bookings faster and easier too.
Stripe connect
Guests can make a secure payment through Stripe that helps them complete transactions quickly in a hassle-free manner. Its friendly approach provides more reliability for the users and it is also widely accepted in many countries.
Calendar & seasonal pricing
This feature helps to set pricing for a particular day or season. It can be done by choosing the specific days in the calendar and also setting up the different pricing in the session price. The seasonal pricing option also enables car owners to maximize their revenues at a short interval.
Manage cars
This feature helps to edit, view or upload listings according to the car types, descriptions, and also price without hassle so that the customers can able to search, filter according to their convenience. Anyone without technical skills can easily manage the dashboard in an easier way.
Document verification
This is an essential feature that helps to collect and verify all the required documents like driving license, insurance, and also vehicle-related documents. It has been one of the most trusted concerns for both the car owners and also renters which will avoid illegal problems.
Internal Messaging
Messaging helps to communicate with car owners and also renters during the booking process. It is also helping the user to track the previous conversations.
Manage reservations
It helps to keep track of all reservations and also control the process. With just a click, you can modify any booking details related to the booking date, time and also related to reservations.
Tech stack needed
Technology has the greatest impact on how our product works and also how it will perform in the future. The tech stack also influences the scalability of the product and also dealt with the investment of money and time. Choosing the right tech stack will lead you to the successful path in the car rental marketplace development,
Front end interface -ReactJS
If you are doing a car renting marketplace development with the idea of adding numerous features in the future, then the reusable UI component should be your pick. For that reusability, javascript frameworks like ReactJS, Redux and also React Apollo works very well. React is the front end javascript library for making performance-oriented user interfaces and also boosts the primary web page load speed, provides a smooth user experience too.
Back end interface -ExpressJS
What users see as a visual interface is the result of the powerful involvement of back end technologies. Frameworks like expressJS, GraphQL, Sequelize will handle the heavy load easily. It is a js run time environment that allows you to run an application and it is light, scalable and cross-platform to execute code. It uses an event-driven I/O model which makes it extremely efficient
Database- MySQL
The data storage platform should be efficient, scalable and also easy to maintain. The main thing you have to be clear about is whether it is a non-structured query because of easy use and can also store data. It is open-source, reliable, compatible with all major hosting providers, cost-effective and also easy to manage. Many online businesses are leveraging the data security and also strong transactional support offered by MySQL to secure online transactions, enhance customer interactions.
Conclusion
In this blog, I hope you had a better understanding of the peer to peer car rental marketplaces development and the features necessary to build car rental marketplace. There is really a huge demand in the car rental market. If you choose the right business model and tech stack to build a car rental marketplace, it will help you to scale up the marketplace globally. Still, have queries on this? feel free to contact our experts at support@radicalstart.com