One of the best practices to increase Reserves in the Vacation Rental business is to establish different prices in order to reach different guest profiles.
One of the resources to help serve this and other types of public is the Monthly Rate tool where you can register the amount you charge for those who book Reserves that last for long periods and the calculation is differentiated for Reserves closed through the website or by your Team of Reserves.
How does the Monthly Rate work?
Once you have entered the amount that you charge as a "closed month", the system will cross this information with your lowest nightly rate and we will have the minimum of nights that already covers the monthly amount.
Let's look at the example below:
Step 1 is the registration of the value of the daily rates in the system and, therefore, we will have the lowest daily rate.
Then, in the field below, enter the amount you charge per month. Unlike the other fields, in this you must enter the total value.
After entering this information, the system will split the amount charged per month and the lowest daily rate to generate the minimum number of nights.
In the example image we have 7000/275, which generated the total of 26 nights.
The Monthly Pricing
After setting the monthly amount in your Seasons, it is important to understand how the system will behave in the Reserves that include the monthly rate.
Reservations between the minimum of monthly nights and the duration of the month
For cases where the Reservation has a number of nights higher than the minimum stay of the monthly rate and is below the duration of the month (the default is 30 days), the rates above the minimum stay are a kind of "courtesy". In the example below, the minimum stay of nights that already covers the monthly amount is 26 nights and the stay lasts 30 nights, therefore the monthly amount closed, which was R$ 7,000.00, was charged.
Reservations above the minimum of monthly nights and longer than the duration of the month
In cases where the Reserve fits in the minimum of monthly nights and exceeds the duration of one month (the standard is 30 nights), the value of the month + proportional daily will be charged to days that exceed the month.
In the example below, it is a 36-night Reserve, so in addition to the monthly amount closed, you will be charged 06 nights with the proportional daily rate.
In this example above, for 30 nights we charged R$ 7,000.00 and for the 06 nights beyond the period, we charged a daily rate of R$ 233,00 to reach the total value of the Reserve.
Important: The above example was done with price rounding enabled, so there are small differences in value!
How activate the Monthly Rate?
While setting up your Seasons, simply check the "Yes" field in the [Monthly Rate] field.This will create the space to place the amount you charge for Monthly Reservations.
I work with Events, but in Long-term Reservations, I want to use the Monthly Rate. How can i do it?
When setting up your Event, there is an option called [Disconsider Event for Monthly Rentals].
Just check "Yes" and the system will use the Season structure to collect the Reserve.
I want to know more...
Does this proportional charging of daily rates in Long Reserves also work for Sales Channels?
No. The system will only create a tariff plan with minimum system nights and the proportional daily amount. However, if the number of nights is greater than one month, the daily rate will remain the same.
I work the month with a duration other than 30 days. Can I change the system default?
Yes. Access [Catalog> Settings> General Settings] and the [Season Monthly Size] option enter the number of days of your default. Do not forget to save the changes!