Manage Rental Rates
You may add standard rental rates to each of your rooms. The rates are added to a specific price schedule (for more information about price schedules, see Creating a Price Schedule).
If you haven't created GL codes or taxes yet, it may save you some time to have those in place before you get started. For more information:
To add or edit pricing for rental rates:
- Click your name in the upper left.
- Click Inventory & Prices.
- Click Price Schedules.
- Click the price schedule you want to work with to open its slider.
- Click Rental Rates.
- The Rental Rates tab has three sections: Taxes, GL Code, and Rental Rates. Each section has a edit pencil icon to open its slider.
- Click the edit pencil icon by Taxes. Select the taxes that apply to your rental rates and click Save. The taxes you apply here will automatically be added to all of your rental rates for all of your rooms. You can also add separate, additional taxes to individual rooms. This is done at the room level.
- Click the edit pencil icon by GL Code. Select the GL code that applies to your rental revenue and click Save.
- Click the edit pencil icon by Rental Rates.
- Click the venues field to expand a list of the venues you have access to.
- Check the venues you want to add rental rates for. For venues with a large number of rooms, we recommend editing one venue at a time.
- By default, none of the rooms have rental rates. Click + Rate next to a room to add a rate to that specific room.
- A new rate will default to the Standard rate type, Day unit, $0 rate, and not having additional taxes or a GL code override.
- You can name the rate types whatever you would like. This is what will display on your proposals, contracts, invoices, etc.
- You can select a different unit. Rental rates can be calculated per day, per hour (calculated from the amount of time the space is booked for), or by area (calculated from the square footage/meterage added to each room when it was created). If you have a half day rate, use the Day unit and add the appropriate rate type and rate.
- Enter the currency amount of the rate. This is what will be charged per unit for this room.
- Choose the additional taxes you would like to apply to this room. If a tax is already applied to the rental rates as a whole, it will be grayed out and you will not be able to select it.
- You can select a different GL code from the dropdown for each rate individually to override the default GL code you set.
- If you've added more rates than you need, click the X icon by a rate to remove it.
- Once you've added or updated all the needed rental rates, click Save.
- The updated rental information will display.