Manage Rental Rates

Permissions needed: Inventory & Prices > Edit

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 Create a Price Schedule.

If you haven't created GL codes, taxes, or service charges yet, it may save you some time to have those in place before you get started. For more information:

This article will give step-by-step directions to:

  1. Click your name in the upper-left corner.
  2. Click Inventory & Prices.
  3. Click Price Schedules.
  4. Click the price schedule you want to work with to open its slider.
  5. Click Rental Rates.
  6. The Rental Rates tab has four sections: Taxes, Service Charges, GL Code, and Rental Rates.

Manage Taxes, Service Charges, and GL Codes

  1. To add taxes, service charges, or a revenue GL code to your rental rates, click the pencil by the appropriate section.
  2. Select the taxes, service charges, or revenue GL code you would like to apply to your rental rates. Some notes:
    • The taxes and service charges should be ones which are applied to all rental rates. If there are additional taxes or service charges for specific rates, those can be added on to those rates.
    • The revenue GL code should be the one for most rental rates. The GL code can be overridden on individual rates, but cannot be removed from individual rates.
  3. Once you selected the appropriate taxes, service charges, or GL code, click Save.

Add Rental Rates

  1. Click the edit pencil icon by Rental Rates.
  2. By default, none of the rooms have rental rates. Click the + add icon next to a room to add a rate to that specific room.
  3. A new rate will default to the Standard rate type, Day unit, $0 rate, and will not have additional taxes or service charges, or a GL code override.
    1. Name the rate type. This is what will display on your proposals, contracts, invoices, etc.
    2. Select a 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 in the System Admin area). If you have a half day rate, use the Day unit and add the appropriate rate type and rate.
    3. Enter the amount of the rate. This is what will be charged per unit for this room.
    4. Choose the additional taxes you would like to apply to this room. If a tax is already applied to the rental rates on this price schedule, it will be grayed out and you will not be able to select it.
    5. Choose the additional service charges you would like to apply to this room. If a charge is already applied to the rental rates on this price schedule, it will be grayed out and you will not be able to select it.
    6. Select a different GL code from the dropdown for each rate individually to override the default GL code set for rental rates on this price schedule.
  4. If you've added more rates than you need, click the X icon by a rate to remove it.
  5. Once you've added all the needed rental rates, click Save.
  6. The updated rental information will display.

Edit Rental Rates

  1. Click the edit pencil icon by Rental Rates.
  2. The Edit Rental Rates slider will open.
    • Existing rental rates will load in view mode. Click a row to switch it from view to edit mode. (The edit pencil icon is there to show it can be edited, but you can click anywhere on the row to begin editing.) When editing a rental rate, you can use the Tab key to move through its fields. If you Tab to the next rental rate, it will automatically switch to edit mode.
    • Update rate information as needed: rate type, unit, rate, taxes, or revenue GL code.
    • Click the + add icon next to a room to add a rate to that specific room.
    • Click the X icon by a rate to remove it.
  3. Once you've made the needed changes to the rental rates, click Save.