# Equipment rental price calculator: daily rate | WebKoding

What the item cost, how long it lasts, how often it is rented and your target margin in; the daily rental rate to charge out.

Source: https://webkodingtheme.com/tools/rental-price-calculator/

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Free tool

# Rental price calculator

For anything you hire out by the day: the rate that pays back the item over its life, covers upkeep, and leaves the margin you want.

Purchase cost of the item (USD) Useful life (years) Days rented per year Maintenance and insurance (USD) (per year) Target margin (%) Currency USD EUR GBP CAD AUD TRY INR AED SAR
Daily rate US$12.96
Cost per rental day US$7.78
Days to pay back the item 186.2 days

## How it is calculated

Yearly cost = purchase cost ÷ useful life + maintenance and insurance.
Cost per rental day = yearly cost ÷ days rented per year.
Daily rate = cost per rental day ÷ (1 − target margin).
Payback is the number of rental days whose income, after upkeep, adds up to the purchase cost.

## Questions

### What utilisation should I assume?

Be conservative. Few items are rented more than a third of the year, and an optimistic figure produces a rate that only works on paper.

### How should weekly rates relate to daily ones?

A week is commonly priced at three to four times the daily rate, and a month at around three times the weekly. Longer hires mean less handling per day.

### Should I add a deposit?

For anything valuable, yes. It is not income, but it covers damage and makes late returns less likely.

## If you run WooCommerce

RentFlow takes day-rate bookings in WooCommerce and blocks the dates, so the item you priced here can be hired without a second system. RentFlow is our plugin; the calculator above works the same whether you use it or not.

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