Rental Promotions

Rental Promotions settings allow you to add discounts to a tenant’s ledger for a single month, multiple months, or as an ongoing discount.

To set up rental promotions settings:

  • Click the Settings Tab in the lower left of your screen.
  • Under the Units section, click the Rental Promotions button. The rental promotions settings screen will appear.

Adding a New Rental Promotion

  • Click ⛭Edit Corporate Discount Plans. (You will be automatically redirected to the Corporate level and the Software Setting section.) Then click ⊕New Rental Promotion. The New Rental Promotion screen will appear.

Listed below are descriptions of the types of promotions that can be added on this screen:

  • Promo Code: Use this field to provide a shortened version of the promotion description.
  • Description: Use this field to provide a brief description for the selectable option when applying the rental promotion.
  • Discount Type:
    • Rate Modification: Rate Modification is an indefinite promotion that changes the rent rate of the tenant. For example, if a 10% military discount is set up as a rate modification promotion and applied to a tenant renting a $100 unit, when this promotion is applied to the tenant's rental, his rent rate is modified to be $90. His invoice will list his rent rate as $90. His lease and any other documentation generated by storEDGE will list his rent as $90. The Rent Roll report will list his rent rate as $90 and the Economic Occupancy for the facility will be calculated based on a $90 rent rate for this unit.
    • Promotion: Promotion is a discount that can be finite or infinite that does not change the rent rate. For example, if a 10% military discount is setup as a standard promotion and applied to a tenant renting a $100 unit, when this promotion is applied to the tenant's rental, his rent rate remains $100. His invoice will list his rent rate as $100 with a $10 discount applied netting a total amount due of $90. His lease and any other documentation generated by storEDGE will list his rent rate as $100. The Rent Roll report will list his rent rate as $100 and the Economic Occupancy for the facility will be calculated based on a $100 rent rate for this unit.
  • Discount active for
    • A number of months: Selecting this option will cause the rental promotion to only be available for a limited number of months. Choose this option if you want the promotion to be active on a specific month (ex: 6th month at 50% off). This option is only available for standard promotions.
    • Always: Selecting this option will cause the promotion to always be applied to a tenant’s unit for the duration of the tenant’s stay.
  • Requirements: You have the ability to enable requirements for each rental promotion:
    • Length of stay: Checking this box requires that the tenant stay for a set number of months before receiving the rental promotion. If the length of stay requirement is enabled and the tenant moves out prior to fulfilling the requirement, the discounted amount will be charged back to the tenant. Use the dropdown menu to choose the number of months.
    • Required prepay: Checking this box requires that the tenant prepay for a set number of months in order to qualify for the rental promotion. Use the dropdown menu to choose the number of months.
  • Availability: These fields allow you to select the date on which the rental promotion will become available. Note that a starting on date is required, but an ending on date is not.
  • Round to nearest: This dropdown menu allows you to choose the amount the tenant’s charge pre-tax will be rounded to. Choose from $0.10 to $10.00.
  • Additional Details: Checking the “Don’t show this promotion on the website” box prevents the promotion from being shown on your storEDGE website.
  • Facilities: Select which facilities are allowed to use the promotion.
  • Tenant Account Type Restriction: To limit which type of tenant is allowed to have this promotion, choose from the dropdown list. For example, if you create a 10% off military promotion and you want to hide the promotion from all non-military tenants, select Military from the dropdown list.

Creating Promotions for a Specific Number of Months

      • In the Discount active for dropdown menu, select A number of months.

An additional field will appear named Month #1. Next to it, you’ll see a dropdown menu allowing you to specify a dollar amount, a percentage off, or set the rent at a fixed price.

      • Select an option from the dropdown menu:
        • If you select $ off, specify the amount of the discount in the field provided.
        • If you select % off, specify the percentage of the discount in the field provided
        • If you select Fixed price, specify the new rate for this month in the field provided.

Note: Use the green + button to add as many additional months as you desire. If you want to apply the discount to a  specific month, such as the 6th month or the 12th month, add the number of months required but do not add a discount to the earlier months. Clicking the red X button will delete that month and the discount.

Creating Promotions that are Always Active

      • In the Discount active for dropdown menu, select Always.

Two dropdown menus will appear.

    • Select an option from the dropdown menu:
      • If you select $ off, specify the amount of the discount in the field provided.
      • If you select % off, specify the percentage of the discount in the field provided.
      • If you selected Fixed price, specify the new rate for this month in the field provided.
    • When you have finished, click the Save button to save your additions.

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