Rentals - Rates

In this article

• Basic information
• Seasons
• Public notes
• Rate tables
• Midterm rates
• How to check my rates

Basic information

Here you enter the

• Currency: choose from the currencies supported by BookingSync. If you don't find your currency, please contact our Customer Care team to have it added.
  
• Base Rate: this rate will be used to calculate the ratios for all other rates
  
• Base rate kind: you can have nightly or weekly rates. Note that it's totally independant of the length of 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 that you authorize, even if there's a combination of several discounts.

Ex. You have a base rate = 100/night and a minimum rate = 80/night. If you are in a season that is 90% of the base rate and you have a rule to discount 15% for stays of more than 7 days, the rate per night won’t be 76.50 (100 x 90% - 15%) but 80.00 (the minimum rate).

• Downpayment
• Damage deposit
• Rounding Kind: The rounding kind allows you to round 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 with 9)

• Balance due

Don't forget to click on Save each time you change this information.

Seasons and Periods

this is where you can easily set up the rental rates for different seasons and define the periods (the date range) that corresponds to each season.

All you have to do is to click on New Period

• 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. You can also leave this blank and enter the Rate amount. The Ratio will then be calculated automatically using 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 Create

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 corresponding Edit or Destroy icons.

As you’ve just setup your Rental Rates, maybe you would like to apply some Rates Rules to them. These rules allow you to manage dynamic pricing based on several criteria (length of stay, advanced booking, etc…).

Public Notes

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 tabs.

Rate tables

If you share the same seasons (i.e. periods and ratios) and rate rules between several properties, you can create a rates table to centralize the  management of your rates.

Note that as soon as you have one rates table created, a new section Rates Tables will appear in your main menu.

Midterm rates

For bookings of more than 30 days, the rates are defined using Midterm rates. To use this feature, you need to make sure that you activate midterm pricing and define 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:

1. Go to your BookingSync account under the Rentals tab
2. Select your listing and go to the Rates tab
3. Go to the midterm section and click on “+New midterm period”
4. Create a season and a nightly rate for your midterm stays
5. Activate your midterm pricing by using the switch on button

For Airbnb and Vrbo, make sure that 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, there is nothing to do here.

* Note that the Midterm rates feature is only available on the latest BookingSync pricing plan

How to check my rates

Once you have your rates, seasons, rate rules but also special offers, taxes and fees set up in BookingSync, you can easily check that the rates are correct. To do this:

1. Go to the Calendar section
2. Select a start date and an end date
3. A pop-up will open with the booking details
4. Select the number of adults and children
5. 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
6. Click on Cancel to close the window

TIP: you can see how each price is calculated by clicking on the ? on the left of the cell.