Rental charges determine how you charge for your rental gear. OnRent Events comes with a few rental rate definitions set up out of the box, but you can set up additional ways of charging in System Setup > Rental Charging Setup.
Examples of rental charging
Daily rate
A daily rate is generally the price x quantity x chargeable days. For example, 2 x product at $10 for 5 days would be $100 since $10 x 2 x 5 = $100. If a product is set to a daily rate, the charges will be calculated based on the number of chargeable days defined. For instance, setting 7 chargeable days with a daily rate will calculate the billing for exactly those 7 days, as the rate permits per-day billing.
Three-day week rate
A three-day week is common in some industries. The maximum charge for a week’s rental is three days, so 2 x product at $10 for 5 days would be $60 since $10 x 2 x 3 = $60. Products using customizable 3-day week plans will adhere to the rate’s predefined cap even if set for longer chargeable days, ensuring the charge remains within the limits of the rate definition.
Fixed rate
With a fixed rate, chargeable days are ignored and a rental product works in the same way a sale product might. E.g. 2 x product at $10 for 5 days would be $20 since $10 x 2 = $20.
Chargeable Days: Understanding Their Role
Chargeable days dictate the billable period for rentals and can override the natural duration of calendar start and end dates. By configuring chargeable days effectively, you ensure billing accuracy and alignment with predefined rate structures.
A rental rate definition is made up of a rental charging engine and some options that you can set up against it. Chargeable days are a key component that can be defined within a rental rate definition, allowing you to specify the billable duration independent of calendar dates.
To create a new rental rate definition, head to System Setup > Rental Charging Setup and click Add rate definition.
Rental charging engines
An engine determines how a charge should be applied. For example, some engines use days, some use weeks, and some work on percentages. Chargeable days can also influence how engines compute billable amounts, providing additional flexibility in customizing rental charges.
Here’s a list of the rental charging engines you can use in OnRent Events:
We’re here to help
Getting your rental charging set up correctly is a key part of running a rental business, so if you’re struggling, then just let us know and we’ll be happy to help!
Our team has been writing software for the rental industry for years, so please do draw on our experience. Start a conversation using the green help bubble at the bottom-right ↘️