Split up payments between the time a booking is initiated and when the guest arrives. OneRooftop allows you to customize your payment schedule to work for your business.
A common practice among vacation rental hosts is to take an initial payment of 50% down, then charge the remaining balance 30-45 days before check-in.
Take a booking deposit
Log in to the OneRooftop Admin. Go to Properties > Select property to edit > Rates > Payment Schedule.
Begin setting up your booking deposit by editing the existing/default payment schedule labeled "First Payment."
- Click "Edit"
- Internal Label: A name for the schedule that is only visible to you.
- Flat or Percentage: Choose whether the first payment will be a flat amount or a percentage of the booking total.
- Amount: Enter the amount required.
- First Payment Due On: In the OneRooftop system, 0 Days Before Check-in is the default and translates to immediately upon booking. We recommend this for all first payments.
- Require Approval: Leave this feature enabled if you would like guests to submit their payment and booking request for your approval. To disable means guests can instantly book their reservations, just like booking a hotel.
- Hide Rate Breakdown: When booking through your site, guests will see a full breakdown of the rental rate, fees, taxes and deposits before paying. If your would rather not share this breakdown, select Yes on the drop down menu.
Note: The amount of the first payment due must be at least enough to cover any applicable security deposits and damage protection fees + Stripe's minimum processing fee.
For example, if you have a $500 security deposit and a $69 damage protection fee, the first payment should be at least $581.82 ($569 + 2.2% + $0.30). If you set the first payment to be any less than this amount, the system will override it.
Collecting the balance
If the first payment is less than 100% of the total, you will need to add a subsequent payment schedule to collect the remaining balance.
Bookings inside of the date that final payments are due will automatically require the full amount be paid upfront.
- Click the green "Add Subsequent Payment Schedule" button.
- Enter a label (Example: Final Payment).
- Select whether the payment will be a flat amount or percentage.
- Enter an amount: The default is set to 100% of the remaining balance. If this payment schedule is for the balance, leave as 100% - anything less will not collect the full balance.
- Due On: Enter how many days prior to arrival final payments are due. You may also select After Check-in, Before Check-Out or After Check-Out.
- Click "Add" to save.
Creating a payment schedule will not automatically notify guests when their balance is due. You will need to set up a payment reminder email to accomplish this. Learn more about scheduled messages HERE.