INTRODUCTION
Rent products on the website with Odoo Rental Sale Management!
Customers are rational and buy only those products which they find cost-efficient. But there is another customer group, which instead of buying prefers renting. Renting products is a very profitable alternative for a business as you can rent products to different customers for different periods.
Further, when you rent products, you get the opportunity to earn multiple times the products’ original cost, increasing your profit manifolds.
But, how can you rent products on your Odoo eCommerce website?
Odoo Rental Sale management is a module specially designed for this purpose. The module allows you to manage rental products. Further, you can create and manage rental tenure schemes, rental orders, contracts, incoming delivery, outgoing delivery, etc.
FEATURES
- Admin can create rental products in the backend.
- Every rental product may have several rental tenure schemes with corresponding rent prices (like $20.00 for 15 days, $500.00 for 3 months, etc.)
- Admin can manage various Rental UOM (like hours, Days, Months, Years, etc.)
- Admin can add security amount functionality for each rental product.
- Moreover, you can create a separate rental agreement for each rental product.
- Create a Rental Tenure Type (can be Standard or Custom) for each rental product.
- The rental category is available for each product.
- In addition, create a rental contract for each rental order (or renewal order).
- Separately manage incoming and outgoing stock delivery.
- Manage various rental invoices (like rental contract invoices and security refund invoices)
- Also, renew the expired rental contract with just a click.
- Admin can create and save standard tenures for each product in Odoo.
- The security amount is automatically added to the total of each sales order.
- Further, the security amount is refundable on product return.
- You can create separate rental agreements for various types of products.
INSTALLATION
- Once you purchase the App from Webkul store, you will receive the link to download the zip file of the module.
- Extract the file on your system after the download finishes. You will be able to see a folder named- ‘odoo_sale_rental.’
- Copy and paste this folder inside your Odoo Add-Ons path.
- Now, open the Odoo App and click on the Settings menu. Here, click on Activate the Developer Mode.
- Then, open the Apps menu and click on ‘Update Modules List.’
- In the search bar, remove all the filters and search ‘odoo_sale_rental.’
- You will be able to see the module in the search result. Click on ‘Install’ to install it.
RENTAL RATE CALCULATION METHOD
There are two options in the rate calculation method.
1. SIMPLE CALCULATION:
The simple calculation method calculates the rental amount based on the shortest rental tenure scheme.
For example: If the product has the following rental tenure scheme.
- The rent for 5.00 days is $500.00, and
- the rent for 1.00 days is $150.00.
Now, if the customer will buy this rental product for 6 days then charges will be calculated based on the smallest rental tenure scheme of 1.0 days @ $150.00.
so rent price will 6✕150.00 / 1.0 = $900.00
2. DYNAMIC CALCULATION:
In dynamic calculation, the rental amount will be calculated dynamically. Moreover, this method finds the closest rental tenure scheme, then again for the remaining tenure, and so on.
For example: If the product has the following rental tenure scheme.
- The rent for 5.00 days is $500.00, and
- The rent for 1.00 days is $150.00.
Now, if the customer will buy this rental product for 6 days then the charge will be calculated as follows:
for 5.00 days, the applied rent will be according to the 5.00 days @ $500.00 rental scheme, and for the remaining tenure
for 1.00 days, the applied rent will be according to the 1.0 day @ $150.00 rental scheme.
Hence, the final rent price will be $650.00.
Webkul’s dedicated support provides you with the customizations and troubleshooting solutions for your Odoo Rental Sale Management module.
Read about – Apk Mody
