Many rental companies offer special pricing the longer the term of the rental. For instance in the Audio-Visual Equipment Rental industry, the most common rental scheme is the 3-day week. If you rent a piece of equipment for 1 day, the charge is 1 times the daily rate. Rent for 2 days, and it is 2 times the daily rate, but rent for 3 calendar days up to 7 calendar days, the charge is only 3 times the daily rental price. Some companies may have a 4-day rental week, where renting something for 4 days up to 7 days will charge 4 times the daily rate. Some companies may charge each day individually, whereby you rent something for 6 days, and the customer is charged 6 times the daily rate. RentalDesk comes pre-configured with three standard price schemes which you can edit; or simply add new price schemes to suit your requirements.
When you are setting up your price schemes, the number you enter is the multiplier for that number of calendar days x the daily or hourly rental rate. If you have a rental that starts on March 1, and ends on March 5, RentalDesk will count this as 5 rental days and look up the multiplier for 5 rental days.
So if your grid looks like this:
RentalDesk would charge 3 times the daily rate for a 5 day rental. If the rental was for 10 days, RentalDesk would multiply the daily rate x 6. These multipliers can be any number you wish, including fractions and/or negative numbers.
It is very important to understand the numbers in the right column are multipliers for the number of calendar days on the left. It is also important that you understand how this works before you begin setting up your own price schemes.
