Pricing and Rates
Setting the right prices for your equipment is crucial for profitability. CloudRent Pro supports flexible pricing with daily, weekly, and monthly rates, automatic calculations, and GST handling built in.
Understanding Rate Periods
Equipment can be priced for different rental durations:
Rate Type |
Description |
When Applied |
|---|---|---|
Hourly |
Per hour of use |
Short-term hires, events |
Daily |
Per calendar day |
Most common for equipment hire |
Weekly |
Per 7-day period |
Week-long projects |
Monthly |
Per calendar month |
Long-term hires, contracts |
Setting Equipment Rates
Open the equipment item
Click Edit
Scroll to the Pricing section
Enter rates for each period
Save the equipment
Required vs Optional Rates
✓ Required
At least one rate (usually Daily)
○ Optional
Additional rate periods
Minimum hire period
Minimum charge amount
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Tip: Even if you mostly do daily hires, set weekly and monthly rates. Customers often ask for longer-term pricing, and having it ready speeds up quoting.
Automatic Rate Calculation
CloudRent Pro can automatically calculate rates based on your daily rate using standard industry multipliers:
Standard Multipliers
Weekly Rate = Daily Rate × 5
Monthly Rate = Daily Rate × 20
To use automatic calculation:
Enter the daily rate
Click "Calculate Rates"
Review the calculated values
Adjust if needed
You can always override calculated rates with custom values.
GST Handling
CloudRent Pro handles GST (10%) automatically based on your company settings.
Prices Include GST
When enabled, your entered prices are treated as GST-inclusive:
Example
You enter: $110/day
GST component: $10
Ex-GST price: $100
Prices Exclude GST
When disabled, GST is added on top:
Example
You enter: $100/day
GST (10%): $10
Total: $110
ℹ️
Note: Configure your GST preference in Settings → Company. This affects all new pricing but doesn't change existing equipment prices.
Best Rate Calculation on Rentals
When you create a rental, CloudRent Pro automatically calculates the best price based on the duration:
Duration |
Rate Applied |
Example |
|---|---|---|
1-6 days |
Daily × days |
3 days at $100 = $300 |
7-27 days |
Weekly × weeks + daily remainder |
10 days = 1 week ($500) + 3 days ($300) = $800 |
28+ days |
Monthly × months + weekly/daily remainder |
35 days = 1 month ($2000) + 1 week ($500) = $2500 |
This ensures customers always get the best available rate for their rental period.
Minimum Hire Settings
Minimum Hire Period
Set a minimum number of days for rental:
Minimum: 1 day — Standard, no restriction
Minimum: 7 days — Weekly minimum for large equipment
Minimum Charge
Set a minimum charge regardless of duration:
Equipment with $100/day and $150 minimum charge
Half-day rental still charges $150
Pricing Tips
💰 Research Competitors
Know what others charge for similar equipment in your area. Price competitively while maintaining margins.
📝 Review Regularly
Update prices annually at minimum. Account for inflation, maintenance costs, and market changes.
🎯 Consider True Costs
Factor in depreciation, maintenance, insurance, and transport when setting rates.
📂 Segment Your Pricing
Premium equipment commands premium rates. Don't undervalue quality equipment.
Bulk Price Updates
Need to update prices across multiple items?
Go to Equipment list
Select multiple items using checkboxes
Click "Bulk Edit"
Choose "Adjust Prices"
Enter percentage increase/decrease
Review and confirm
⚠️
Warning: Bulk price changes don't affect existing rentals or quotes. Only new bookings will use updated prices.