Vacation Rental Software Support: Online User Manual: Section 3 - Rates
About Rate Groups
TenantWIZ has a sophisticated system which allows you to create an unlimited number of rate groups and add an unlimited number of rates into each of those rate groups. A rate group houses all of the rates for one or more properties.
To create a rate group, simply login to your TenantWIZ Administration system, click on the Reservations drop-down menu, select Rate Groups Manager and click on Add a Property Rate Group. Upon accessing the screen you'll see a few settings which are described below:
- Property Rate Group Description - The description that you choose for the rate group should be unique. Some TenantWIZ customers like to use the same name for the rate group description that they use for the property in order to easily cross-reference the two, however, you can develop any type of naming system that you choose.
- Show Sold-Out Dates on Calendar - Showing sold-out dates indicates the dates in red & green that have either been already booked, or available for that property. The only time you may want to have this setting off would be if you're running a motel, hotel, bed & breakfast, or similar operation where you have several similar units say twelve one-bedroom motel rooms.
- Show Currency Symbol on Calendar - This setting will turn on or off the currency symbol display on the calendars.
- Allow Renters to Book Sold-Out Dates - This setting correlates with the Show sold-Out Dates on Calendar setting. If you're running a motel, hotel, bed & breakfast, or similar operation then you'll want renters to be able to book a property even if there is already an existing booking should there be several of the same units.
About Rates in the TenantWIZ System
Rates are at the heart of TenantWIZ's unique & intelligent vacation rental software engine. There are three types of rates within the system and they are:
- Weekday Rate - The weekday rate applies for stays from Sunday check-in through Friday check-out.
- Weekend Rate - The weekend rate applies for stays from Friday check-in through Sunday check-out.
- Weekly Rate - The weekly rate applies to stays that total 7 days (e.g. Saturday through Saturday)
Entering in Rates for the First Time
Rate groups and rates can and must be entered in the system prior to loading your first property. You can create unlimited rate groups and assign unlimited rates to each of those rate groups. Afterwards, you can assign your rate group containing all its rates to one or multiple properties. Please note that when creating rates within the rate groups that the beginning date is the check-in date and the ending date is the check-out date. Subsequent rates must match for the check-out and check-in.
For example:
- Jan 01, 2009 - Feb 04, 2009
- Feb 04, 2009 - Mar 20, 2009
- Mar 20, 2009 - Jun 15, 2009