Configuring leasing rates

You can use the Leasing Rates page to configure and maintain rates that are used for leases. The lease rate and its associated transaction codes and permissions are set on the Record View tab. Rate periods, associated room types, and rate amounts are set on the Rate Details tab along with the ability to copy rate periods.

Before you can create a new leasing rate, you must mark the standard rate plan to be used as a lease rate. See Creating standard rate plans. Multiple rate periods can be set up by date ranges, but cannot overlap. Rate periods must be added, and room types must be associated before rates can be defined.

You select to allow weekly rates and/or allow monthly rates. Optionally you can define daily rates.

To create a new leasing rate:

  1. Select Rate and Sales > Pricing > Leasing Rates.
  2. Specify the information that you require. See additional details about these fields:
    Rate
    Select a rate plan. Only standard rate plans that have been configured as leased rates can be selected.
    Rate Category
    Optionally, select a rate category. Rate category can be used as a group by filter option in revenue, occupancy forecast, and occupancy statistics reports.
    Room Charge
    Transaction code used for the charge for the room in the accounting folio. The transaction code defined here is filled with what exists in the Room field in the Leasing Configuration page.
    Vacant Room Charge
    Transaction Code used to post any vacant room charges. The transaction code defined here is filled with the what exists in the Vacant Room field in the Leasing Configuration page which is optional.
    Lease Charge
    Transaction Code used for the guest charge and may include lease fees. The transaction code defined here is filled with what exists in the Rental field in the Leasing Configuration page.
  3. Click the Rate Details tab.
  4. In the Lease Rate Period pop-up, specify rate period details, then click Submit.
    Click Close to return to the Leasing Rates page.
  5. Click Actions, and select Maintain Lease Periods
  6. Click Actions, and select Associate Room Types. Select one or more room type codes and click the arrow to move the selections into the Selection box, then click Submit.
    Click Close to return to the Leasing Rates page.
  7. Select a Rate Period, configure rate amounts for the room types that are associated.
  8. Click Save Record.