Miko Product Rentals supports three pricing modes that reward longer bookings. You must set at least a daily rate (or, for a free rental, a deposit). Weekly and monthly rates are optional overrides.
Where to find it
Open Apps → Miko Product Rentals → Rental Products, click the product, and use the Rental pricing section. For a product with variants, each variant has its own prices in the Variants section.
How to set it up
Open the product
In Rental Products, click the product.Set the daily rate
Enter the Price per day. It is required.Add longer-hire rates if you want them
Optionally enter a Price per week and a Price per month. Leave either at 0 to skip it.Save
Click Save settings. For variants, set each variant's prices and click Save variant.
Options
Pricing modes
- Daily rate: charged per day of the hire. Days are counted from the Rental start date to the Return by date, so a hire that starts on the 1st and comes back on the 4th is 3 days. A 3-day rental at $50/day = $150 total. The daily rate applies to all booking durations unless a weekly or monthly rate is also set.
- Weekly rate (optional): automatically applied when the booking duration reaches 7 or more days. Each full week is charged at the weekly rate and any leftover days at the daily rate. Set this lower than 7× your daily rate to incentivise longer bookings. For example, $250/week instead of $350 (7 × $50).
- Monthly rate (optional): automatically applied at 30 or more days. Each full 30 days is charged at the monthly rate and any leftover days at the daily rate. Set this to attract long-term rentals at a competitive flat rate.
If you only set a daily rate, that rate applies to all durations, and there is no automatic discounting. Weekly and monthly rates are entirely optional overrides that kick in only when the booking length reaches the relevant threshold. Miko always applies the longest rate that fits the booking, even if it would work out dearer than the daily rate, so keep your weekly rate below 7 days and your monthly rate below 30 days at the daily rate. When a customer rents more than one unit, the rental fee (and the deposit) is multiplied by the number of units.
Example
Example: kayak rental pricing
Daily rate: $50/day. Weekly rate: $250/week. Monthly rate: $750/month.
| Hire length | Price | How it is worked out |
|---|---|---|
| 3 days | $150 | 3 × daily |
| 8 days | $300 | 1 week at $250 + 1 day at $50 |
| 32 days | $850 | 1 month at $750 + 2 days at $50 |
Plan required
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