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Odoo Rental Sale Management: Rental products and services are becoming ubiquitous with contemporary demographics because they offer a frivolous choice of using the products without the precedent of buying them.
It provides the ease of obtaining the products on rent and using them for the specified time period.
If you are starting a rental products and services business, Odoo rental Sale module is the perfect solution to manage your resources and orders in Odoo.
Bringing Rental product management in Odoo, the module scrupulously creates a separate space to In Odoo manages rental products, rental orders, and rental contracts.
Manage rental product categories, UoM(s), rental agreements in a separate Rental Sale menu.
The rental tenure can be set to predefined Standard Tenure or Custom Tenure.
The Rental business these days is no cakewalk. It’s loaded with challenges & competition. Hence, presenting Odoo Rental Management to manage rental processes with ease.
Odoo Rental Sale Management Features
Manage your rental business in Odoo
- The module provides the structure to manage rental business from Odoo.
- You can create, rent and track your products using Odoo
Create rental products and manage their prices in Odoo
- You can now create rental products in Odoo. The pricing of the rental products is managed on a daily, weekling, hourly, etc basis.
- You can choose simple pricing or dynamic pricing mechanisms for products. (As mentioned above)
Set the uom for rental tenures and their prices
- Manage prices of rental products using appropriate UOM.
- You can create Uom such as hourly, daily, weekly, monthly, etc for your products.
- Use the Uom to set rental prices in your products.
Add security amount to each rental product
- A security amount can also be added to each product.
- The security amount is automatically added to the total of each sales order.
- This amount is refundable when the product is returned.
Track rental orders and contracts from Odoo backend
- Create sales orders to rent products to the customers.
- Each sales order automatically creates a rental order and also a rental contract.
Add rental agreements as policy to your rental products
- You can create different rental agreements for various types of products.
- Each product is associated with a product agreement.
- The product agreement is also added to the rental contract created while renting the product.
Details of each rented product in rental contract
- The rental contract shows the details of the rented products.
- See details like rent tenure, outgoing-incoming deliveries, unit price, security deposit, total etc
Renew expired rental contract
- The expired rental contract can also be renewed in Odoo with a click.
Manage categories of rental product to quick sorting
- You can create rental product categories in Odoo
- Sort the rental products according to the categories for better tracking.
Different types of tenures to place rental orders
- You can create and save standard tenures for each product in Odoo.
- You can then use these tenures while creating rental orders for the customers.
- You can choose the standard tenure or custom tenure while creating the rental order.
Types of Tenures
- There are two types of tenure that can be defined for a rental product - STANDARD & CUSTOM
- If standard Tenure is set for the product, the customer can only select from the options provided for the product.
- For custom tenure, the customer can select any applicable desired tenure for the product.
- The total rent cost is computed on the basis of calculation type selected in Odoo.
Different Rent Calculations Types
The module offers two types of rent calculation matrices. The user can set any one of the following for calculating rent on rental products for the specified tenure.
Simple Rent Calculation
- In this, the total rent for the tenure is calculated by multiplying the rent for one unit by the total tenure.
- For example: If the rental product is charged @ $5 for one day and total tenure selected is 7 days. Then, the total rent simply becomes 5x7 = $35
Dynamic Calculation
- This method breaks down the entire tenure in various segments and then calculate the tenure for each segment separately.
- Say, The Rent for one day is $5.
- Discounted Charges for renting for 4 days straight are $18.
- Discounted Charges for renting for 7 days are $30. - Now if the customer books for 13 days, the system first finds the rent corresponding to the longest period slab that fist in the mentioned tenure, then the next longest tenure and so on.
- Total Rent = (Rent for 7 days slab= $30 + Rent for 4 days slab= $18 + Rent for 2 days = 2 x $5)
Therefore, the total rent charged = $58
Create the Rental products from the Odoo Backend
- You can now create rental products in Odoo.
- You need to mark checkbox Available on Rent for such product.
- Every rental product may have several rental tenure scheme with corresponding rent price.
- The pricing of the rental products is managed on a daily, weekling, hourly, etc basis.
- Manage various rental invoices(like rental contract invoice, security refund invoice).
- The rental products created are published on the Odoo Website.
- Under Rental terms, the admin can set rental sale calculation method either Simple or Dynamic.
- On the Rental security refund product, the "Rental security payment refund” product is to be selected.
Set the Tenure type and Rental Scheme from the Odoo backend
- Manage prices of rental products using appropriate UOM.
- You can create Uom such as hourly, daily, weekly, monthly, etc for your products.
- Use the Uom to set rental prices in your products.
- You can create various agreements which will be further used for rental products accordingly.
- You have flexbility to add rental scheme for these Odoo Rental Products.
- Contracts can be drawn in Odoo for customers from their respective rental orders.
- Contracts can be renewed with a click upon expiration.
Other Rental Management Modules
Dedicated Support For Your Odoo Rental Sale Management Module
Webkul's dedicated support provides you with the customizations and troubleshooting solutions for your Odoo Rental Sale Management module.
For any query or issue please CREATE A TICKET HERE
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1. How to manage rental products in Odoo?
To manage rental products in Odoo you can check our Odoo rental sale management module. With the help of this module, you can manage your rental products, their tenure, rental orders, and a lot more.
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