FAQ

Frequently Asked Questions:

What is the minimum rental period?

PayRentz products can be rented for a minimum period of 3 months.

Is there an agreement?

Yes, you need to sign the Terms and Conditions provided along with the application form.

How can I terminate the rental agreement?

The rental contract gets terminated on completion of the original rental duration agreed (subject to minimum rental period of 3 months) . The contract can also be terminated by either of the parties by  giving  15 days notice .  Notwithstanding the above, if the rent amount payable and due remains unpaid for more than 15 days from the due date, the rental contract stands automatically terminated. In such a case, the client is expected to arrange to return the products forthwith and facilitate PayRentz team to take possession of the products so given on rent. 

How much rent do I need to pay and when?

Clients are encouraged to pay rent for the products on or before 7th of every month. Kindly refer to the product categories listed along with rent details in the website. Rent will be communicated without any ambiguity at the time of delivery and it will be documented in the application form.

Are there any late payment charges applicable?

Clients are encouraged to pay rent for the products on or before 7th of every month. Any delay in payment of rental amount would attract late payment charges of Rs.10 per product for each day of delay, to be levied at the discretion of PayRentz.

How much should I pay as advance?

Clients will pay a refundable deposit which is normally equal to 3 months rent of the product chosen (varies according to each product) and Onetime non refundable processing charges of Rs. 500/- per product.

Are there any other charges apart from rent, processing charges and refundable deposit?

No.

When will I get my refundable deposit?

Refundable deposit will be returned to you after the end of contact period or return of the product as the case may be. The returned products are subjected to quality check either at your place or at our office depending on the availability of our engineers. Upon clearance from quality team the rental deposit will be transferred to your account within 4-5 working days. Any cost arising out of damages other than normal wear and tear will be deducted from the deposit.

How can I pay the rent?

You may choose to pay Online (NEFT/IMPS) into our bank account details shared with you. You may also visit our website and chose to make payment thru various options available including e-wallets. Alternatively , you may inform us to send our collection executive to visit your place on or before 7th of every month to collect cash or cheque at your convenience.

When can I expect the delivery of the product?

Once you submit the application along with required information and supporting documents, speedy credit verification and approval process is initiated. Our average delivery timeline is 3-5 business days from the date of application.

Who will take care of the installation?

PayRentz team will take care of standard installation. Any additional effort (no lift etc.) towards delivery and customization on installation will be at additional cost to be borne by the client. Please speak to the executive while submitting the application for more details.

What are the documentation requirements?

PayRentz requests clients to submit copy of standard KYC documents covering ID proof, address proof (permanent and current address) and company ID card along with duly completed application form. We request you to show the original document to the executive while signing the application which enables speedy verification and approval.

Can I continue the service when I relocate?

Kindly check with PayRentz team to get the latest list of locations we operate. Relocation of products is to be handled only by PayRentz team. Clients are advised to inform us 15 days in advance to help you in relocation. Kindly note appropriate documentation requirements and relocation charges will apply.

Can I rent your products for a short period?

The minimum rental period of products is 3 months. On a standardized basis, you may choose to terminate the agreement during this period. In such an event, PayRentz would retain the initial deposit. Pro-rata rent for the month and onetime processing charges as applicable would be charged. You may choose to call us for any specific requirements. We will be happy to explore other possibilities.

Is there a penalty applicable for any damage?

In the event of an unintentional damage to any of our products, please do call us and lodge a service request with details of damage. We advise you to not engage any other service engineer which is considered as breach of the agreement. Cost of repair / damage to be borne by the client at actuals. Cost of product will be recovered in the event of any irreparable damages or at the sole discretion of PayRentz. 

Can I buy the product from PayRentz during the rental period?

Yes. As a distinct advantage with PayRentz, you can choose to own the product after a minimum rental period of 3 months. Exercising the option to buy provides you continuity of product and at a price that is reasonable and attractive. As an additional benefit, we would continue to provide service support for a period of 6 months from the time you buy the product.

How do I register a complaint or feedback?

Please call us at +91 89395 81818 (or) 044 4863 8090 from 10am to 7pm on all working days or email us at rent@payrentz.com

Can my friend or nominee take over my rental product?

Yes, please inform us 15 days in advance to execute necessary documentation and activate the new client profile.

What should I do in case of a service / maintenance request?

Please visit our website for registering a service request. Ongoing service / maintenance will be managed by us at no additional cost. Cost of spares and damage to be borne by the client at actuals. Depending on the lead time for service in case of a repair, we will attempt to provide a replacement until your product is ready.

Are my personal details maintained with you safe?

Yes, we deal with your details with utmost confidentiality. Your personal details will not be shared with anybody.

What is my deliverable on maintenance of the product?

We expect you to handle the products with care as it avoids issues and provides uninterrupted service. Please note our clients also choose to buy the same product during the rental period and hence a proper care helps.

What is the average time to complete your approval process?

We would endeavor to complete the approval process and deliver of the product within 3-5 working days upon receipt of your application complete in all respects.

I want to rent more products, what should I do?

We will be happy to process your request. We will be able to deliver the products faster for existing clients. Kindly note onetime Processing charges of Rs. 500/- apply per product.

What is your Refund/cancellation policy?

At PayRentz, customer satisfaction is of paramount importance. We strive to ensure that quality products are provided to all clients at all times. In the unlikely event of you not being satisfied with our services/ products,  you may chose to cancel the rental contract and we would be happy to process your cancellation/ refund request. However please note that such refund/ cancellation would be subject to below terms:
-  At the time of initial delivery of products pursuant to your application, in case you are not happy with the products,  the same has to be highlighted at the time of delivery itself. In that scenario we will just deduct  only the handling charges and refund the deposit amount paid by you. The refund would be processed with 5 working days.
-  After delivery of products and during the tenor of the rental contract, in case you wish to cancel the contract , you are requested to provide 15 days notice for termination of the contract. A minimum  rent equal to that of 3 months would be payable by you. The deposit amount will be refunded after aforesaid adjustment. Deposit paid cannot be adjusted towards rent or arrears of rental amount overdue
-  Such refund would be processed only after a clearance report is received from our quality team who would check for any damages/ proper functioning of the products provided on rent.
- Any such refund made pursuant to cancellation of the contract will be made only to the Bank Account of the applicant and no cash payment request will be entertained.