Monthly rates are a great way to manage reservations for long term rentals. By using monthly rates, which generate just the one Room Charge line item for each monthly charge instead of one for each day, you can ensure the folios for your long term stays are clear for both guests and property staff, and help improve system performance by reducing the load time of the reservation.
In order for Monthly Rates to function, a few particular options must be selected:
- Under Admin > Client Info > Options, select 'Use monthly rates for stays longer than __ days". We advise '28' days as standard.
You can also denote here whether these monthly room charges should be posted on the First or Last day of each month, or on the monthly on the arrival date.
- Optional: If your local tax laws exclude Monthly Stays from taxes based off a certain length of time, this option can be found under Setup > Properties > Options:
Note, two options are present depending on how your locality exempts these taxes:
a. If guests staying longer than this number of nights are exempt from all taxes, choose 'All Nights'
b. If guests staying longer than this number of nights are responsible for taxes on nights prior to this limit, but not after, choose 'After limit is met'
- Lastly, you will need to build your monthly rates. For the most part, monthly rates function the same as creating standard rates, with the following exceptions:
- 'Monthly Rate' must be selected next to the 'Interval' box.
- 'Conditional Rate: Yes' must be selected, with a Length of Stay minimum equal to the option set in Step 1 above.
- The 'Base Amount' will be the monthly charge each month.
- For guests with extra nights in their stay that don't make an additional full month, you can also choose 'Pro Rate Interval: Yes' and enter what the nightly amount would be for these additional nights. If the Pro Rate option is not selected, guests who stay longer than the set framework of nights for the Monthly Rate will be charged the full price of an additional month.
You can set this rate on either your Rack Rate, or on its own rate plan, and can associate it to any seasons or room classes you'd like. These rates can be limited via promo code if you desire, or can be set up as 'reference only' and associated to packages as needed, and can include extra person fees just like any regular rate.
- Once your monthly rate is built, it will automatically show whenever front desk staff or guests viewing the booking engine search for availability over the minimum set in Step 1 above. If you chose your Rack Rate in Step 3, it will show instead of the nightly rates. If you chose a different rate plan, it will show under that rate plan for booking:
And the folio will look similar to this:
- Please Note: Monthly rates do not push out to OTAs, and many OTAs such as Expedia and Booking.com do not support stays longer than 28 days. For more information on what does and does not push out to OTAs, see this article.
- Please Note: If you do not have a seasons button in your inventory module please follow our other interval rate setup instructions here: Interval Rates
Let us know if you need any assistance setting up your rates - we're here 24/7 to help! Reach out to our support team anytime at 855.466.7623 / support@innroad.com.
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