1. Pricing Model: You may set up your pricing model as “Linear” or “Incremental”
- Linear- When a customer pays the same price for each unit.
Ex: $15*2 hours rented= $30
Whatever the price set up on 1 to 2 hours price tier * Number of hours rented
- Incremental- An approach in which the price of all additional units produced after the fixed costs has been met is based on variable cost rather than on total cost.
- Another way to think about this is that the amount you put in each price tier is the incremental difference between the total amount and the previous total amount.
Ex: 0 to 1 hour price tier ($7) +1 to 2 hour price tier ($6) = $13
For 2 hours of the rental period, the price will calculate whatever the price setup on 0-1 (initial amount) hr & 1-2 hrs (incremental amount).
2. Duration Model: Describe the amount of time that a customer is booking an item under certain selected hours.
- Calendar Days: Duration is calculated based on calendar days.
Ex: Pickup anytime in (16 Nov) to return anytime in (17 Nov) is considered 2 days
- Integer Hours: Duration is total hours from Start to Finish
Ex: 0 to 23 hours is calculated as 1 day, 25 hours is calculated as 2 days
- Business Hours: Calculate hours only between start and finish of the business day
Ex: 9 am-5 pm
- Integer Days: Duration is calculated based on days.
Ex: 25 hours (24+1) it is considering as 2 days, 23 hours considering as 1 day.
3, Start Selector and Finish Selector: Calculation starts from actual time (when your customer received the item) and finished time (when a customer return the item as requested in the order)
-
Plan: Calculation starts from the requested pick-up time in the order and finished by the requested return time in the order.
-
Actual: Calculation starts from the actual time when a customer received the item and finished by the actual time when the customer drop-off the item.
- Minimum: Calculation starts from order time or actual receiving time which one is sooner.
Start Selector
Finish Selector
Description
Plan
Plan
Calculation starts from the requested pick up time in the order and finishes by the requested return time in the order. Plan
Actual
Calculation starts from the requested pick up time in the order and finished by the actual time when the customer drops the item back off.
Actual
Plan
Calculation starts from the actual time when the customer received the item and finishes by the requested return time in the order.
Minimum
Plan
Calculation starts from the time of order or the time the customer actually received the item (whichever is sooner), and finished by the requested return time in the order.
Actual
Actual
Calculation starts from the actual time when the customer received the item and finished by the actual time when the customer drop-off the item.
Minimum
Actual
Calculation starts from the time of order or the time the customer actually received the item (whichever is sooner), and finished by the actual time when the customer drops the item back off.
When the finish selector is in “Plan” mode, Grace period, or Late return threshold, then you need to set up both the Late return fee ($) and Over usage extra rate (%).
4. Late Return Grace period: Applies no late fee between plan finish and actual finish
Plan finish Actual finish
(No charge)
Plan finish Grace period
Ex: Plan finish- 5 pm, Actual finish-5:10 pm. If the grace period is set on 15 minutes, no late fee applies until it reaches 5:15 pm.
5. Late Return Threshold: If the actual finish is beyond the grace period and has reached the late return threshold, then the late return fee applies.
Plan finish Actual finish (Normal charge)
Plan finish Late fee threshold
Ex: Plan finish- 5 pm, Actual finish-5:30 pm. If it exceeds the grace period, the system will calculate the normal charge until it reaches the threshold.
6. Over Usage Extra Rate: If the actual finish is beyond the late return fee then the over-usage extra rate applies to the overall plan finish to the actual finish.
Plan finish Actual finish
(Extra rate + Fine)
Plan finish Actual finish
Ex: If it exceeds the late return threshold then it will add an Extra rate and fine if it is set up.
7. Reservation fee: Holding a deposit down when renting an item. It can be set up on No charge (or) Min rent (or) Percent (%) (or) Fixed Cost.
8. Cancellation fee: Sum of money that customers must pay if the order gets canceled after the cancellation deadline. It can be set up on No charge (or) Min rent (or) Percent (%) (or) Fixed Cost.
9. Early Pickup: Item can be able to pick up before the plan starts at a minimal cost.
10. Rounding Intervals: To round time to the nearest minute interval.Ex: An item returns @5:11 pm, if the rounding interval is set at 15 minutes it will round off to 5:15 pm.
11. Taxes: Add your taxes under Configurations -> Business settings. They will appear here and can be applied by checking the box associated with each tax.
12. Late Drop-off: The item is able to be dropped off after the planned finish at a configurable penalty.
13. Min Rent duration: Set up a minimum duration that customers must rent the item, it may be by minutes, hours, or days.