Most rental products are better off if you add a set of pricing rules, instead of having a flat pricing by hour or day. Which set of pricing rules make the most sense will solely depend on your product and business model.
For example if you have a product that is rented out over multiple days, it's advisable to reduce the price with growing duration. In case you rent our rather on hourly basis, it makes sense to also give discounts for less interesting times during the day like early in the morning or later in the day. Generally it is highly recommended to differentiate between working days and the weekend, since most people won't be able to spend a lot of time between Monday and Friday afternoon.
Pricing rule options
You can pick from either adding a surplus or discount as well as for cases define absolute prices for each day of the week.
Order of rules
You can alternate the order of the rules, which has an impact on the final price as displayed in this example:
Example set of rules
A classic is to combine a Temporal reduction rule (to lower pricing based on longer duration) with a Weekend rule (to rise prices for the weekend) and a Season rule (to increase prices in your prime season).
We currently work on a new system to provide you with preset templates for an easier setup process. Stay tuned!