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What is rental charging?
What is rental charging?

Define how you charge for your rental products, e.g. daily, weekly, or three day week.

Matthew James Finkel avatar
Written by Matthew James Finkel
Updated over a week ago

Rental charges determine how you charge for your rental gear. Current RMS 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.

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.

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.

Rental rate definitions

A rental rate definition is made up of a rental charging engine and some options that you can set up against it.

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.

Here’s a list of the rental charging engines you can use in Current RMS:

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 have 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 ↘️

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