In this article
Here you enter the
- Currency: chose amongst the currency supported by BookingSync. If you don't find your currency, please contact your Customer Care team to have it added.
- Base Rate
- Base rate kind: you can have nightly or weekly rates. Note that it's totally independant from the length of the stay. For weekly rates, if the stay is lower than 7 days, the rates will be applied as: weekly rate / 7 x number of days.
- Minimum Rate: The minimum rate corresponds to the ceiling price you authorize, even if there's a combination of several discounts. Is that clearer?
Ex. You have a base rate = 100/night and a minimum rate = 80/night. If you are in a season that is 90% of base rate and you have a rule to discount 15% for more than 7 days, the rate per night won’t be 76,5 (100 x 90% - 15%) but 80.
- Damage deposit
- Rounding Kind: The rounding kind allows you to apply a rounding to your INITIAL PRICE. Here are the different options:
- No rounding
- Round up: rounds to the integer that is just above.
- Closest exact: rounds to the closest tens.
- Closest Marketing: rounds to the closest marketing, number (i.e ending by 9)
- Balance due
Don't forget to click on
Save each time you change these information.
Seasons and Periods
Easily set up the rental rates for different seasons and define the periods (the date range) for the corresponding season.
All you have to do is to click on
- Define the period (Start Date,End Date)
- Add the Season Name of your choice (Low Season, Middle Season, High Season…)
- Set up the Ratio -percentage to influence the Base Rate
- Minimum Stay (3 nights, 5 nights, 7 nights…)
- The Rate is automatically calculated when the Ratio is defined. Also, if you would like to enter the Rate amount straight away, the Ratio will then be automatically calculated.
- Click on
To add more periods or seasons, simply click on the
New Period button, repeat the steps above and add as many seasons as you would like and define different periods that those seasons apply to.
If you like, you can also leave a certain number of days without the setup rate. In this case, the property will not be bookable.
You can always easily edit any of the seasons, edit the periods, or delete by clicking on the proper Edit or Destroy icons.
As you’ve just setup your Rental Rates, maybe you would like to apply some Rates Rules to them. Those rules allow you to manage dynamic pricing based on several criteria (length of stay, advanced booking, etc…).
Here you can enter public notes. These public notes will appear on your BookingSync website, under the rates.
If you have several languages defined in BookingSync, the public notes need to be translated in the different language tab.
If you share the same seasons (i.e. periods and ratio) and rate rules between several properties, you can create a rate table to centralize the rate management.
Note that as soon as you have one rate table created, a new section Rate Tables appears in your main menu.
You need to make sure you activated the midterm pricing and defined a different price per night for your midterm reservations in the dedicated section.
Here are the steps you need to follow in order to define your midterm pricing:
- Go to your BookingSync account under the Rentals tab
- Select your listing and go to the Rates tab
- Go to the midterm section and click on “+New midterm period”
- Create a season and a nightly rate for your midterm stays
- Activate your midterm pricing by using the switch on button
For Airbnb and Vrbo/HomeAway, make sure you are using the LOS pricing model so the midterm pricing is synchronized. This is the default pricing model applied so if you didn’t request to change it, nothing to do here.
How to check my rates
Once you have your rates: seasons, rate rules but also special offers, taxes, fees set up in BookingSync, you can easily check that the rates are corrects.
- Go in the Bookings section
- Select a start date and a end date
- The pop-up opens with the booking details
- Select the number of adults and children
- You will see the prices calculated
- Initial price: rent amount calculated based on the season, the rate rules, the special offer and the rounding kind
- Final price: total amount calculated with the intial price - the discount + the fees + the taxes
- Click on
Cancelto close the window
TIP: you can see how each price is calculated by clicking on the ? on the left of the cell.