Your rental rates

To receive bookings, you must configure your rental's prices. As prices are essential for any rental owner in the vacation rental business, Lodgify allows you to set up, modify, and control your prices and booking rules through five simple sections: the Pricing, the Availability, the Policies, the Season rates and the Derived rates.

Read about:

Pricing types

The Pricing types are used to calculate the nightly cost of each booking.

Pricing

Nightly Price

To configure your Nightly price:

1. Go to your Main Menu in the top left corner and click on Rentals.
2. Choose the rental you want to edit and select Pricing.The Nightly price is composed of several elements:
   • The Base Price, which is the standard price per night and may vary depending on the day of the week;
   • The mark-up, which is the percentage adjustment that will be applied to the base rate sent to your OTA (Airbnb, Booking.com...). You can use the mark-up to increase or decrease the price sent to the OTA and to counterbalance, for example, the OTA commission.
     Example:
     Base price in Lodgify: $100 per night
     Mark-up: 15%
     ➡ Base price in the OTA: $115 per night
     
     
   • The Extra guest charge, which applies an additional cost if the number of guests exceeds a certain limit,
   • The Short stay price, which adds an extra fee for stays shorter than a specified number of nights.
3. Don't forget to click Save at the bottom of the slide-ins after modifying each element.

Length-of-stay

If you wish to offer a weekly, monthly price, or a price for a custom period:

1. Go to your Main Menu in the top left corner and click on Rentals.
2. Choose the rental you want to edit and select Pricing.
3. Click + Add and enter the rate for that period.
4. Don't forget to click Save at the bottom of the slide-ins.

Fees

Through the Fees, you can add multiple fees and taxes on top of your base price and season rate. These additions are calculated and applied automatically at the checkout.

To set up fees: 

1. Go to your Main Menu in the top left corner and click on Rentals.
2. Choose the rental you want to edit and select Pricing. Learn more on how to configure Fees
3. Don't forget to click Save at the bottom of the slide-ins.

Taxes

Through the Taxes, you can add multiple fees and taxes on top of your base price and season rate. These additions are calculated and applied automatically at the checkout.

To set up taxes: 

1. Go to your Main Menu in the top left corner and click on Rentals.
2. Choose the rental you want to edit and select Pricing. Learn more on how to configure Taxes
3. Don't forget to click Save at the bottom of the slide-ins.

Sales Tax/Vat display:

Lodgify offers two options for displaying your Sales Tax/VAT. Either the sales tax is included in each listed item (Gross) or is listed separately (Net).

1. Go to your Main Menu in the top left corner and click on Settings.
2. Select Sales tax / VAT.
3. Don't forget to click Save at the bottom of the page.

Here is the difference on the checkout page:

Promotions

Promotions can help you to create special offers for certain periods or give a discount to certain customers by using a promotion code. Promotions can be used in a variety of different ways.

To create promotions:

1. Go to your Main Menu in the top left corner and select Rentals.
2. Select the rentals that you want to create the promotion for and choose Pricing.
3. Now click + Add. Learn more about how to configure Promotions.
4. Don't forget to click Save at the bottom of the slide-ins.

Add-ons

Use Add-ons so that special services such as breakfast or airport pick-ups can be booked directly together with the room booking.

To create add-ons:

1. Go to your Main Menu in the top left corner and select Rentals.
2. Select the rental you want to edit and go to Pricing
3. Click + Add. Learn more about how to configure Add-ons.
4. Don't forget to click Save at the bottom of the slide-ins.

Other information

Add your tax information for Airbnb to collect, remit, and report taxes by clicking Add

Change the label of your nightly price that will be visible to your guests on you website by clicking on it.

Don't forget to click Save at the bottom of the slide-ins.

Availability

This section includes the restrictions you can add to your Pricing. It includes:

• The Minimum stay to set a minimum number of nights required for a stay,
• The Preparation time to automatically block one or two days before and after each reservation,
• The Booking window to restrict guests from booking too far in advance. Note that it will apply to the OTAs, but you can set different booking windows for each channel in the Channel Manager section.
• The Advance notice to limit how late in advance guests can make a reservation. Note that it will apply to the OTAs, but you can set different advance notices for each channel in the Channel Manager section.
• The Unavailable check-in/out days to unselect specific days where guests cannot check in or out.

To change these restrictions:

1. Go to your Main Menu in the top left corner and select Rentals.
2. From the left menu bar select Availability.
3. Don't forget to click Save at the bottom of the slide-ins.

Policies

This section includes the following elements:

• The Policy that defines payment schedules, cancellations, and security deposits for this rental. You can create as many policies as you like and then associate one policy to each rental.
  

  To create or edit your policies:

  1. Go to your Main Menu in the top left corner and select Settings.
  2. From the left menu bar select Policies, and in the top right corner, click the green button Create Policy. Learn more about how to configure Policies.
     
     • The Bookability setting that determines whether the rental uses instant booking, booking request, or booking inquiry,
     • The Check-in/out times.
     • The rates info allows you to add extra details visible on the rates page of your Lodgify website.
     • The Rental Agreement that outlines the rental rules.
  3. Don't forget to click Save at the bottom of the slide-ins.