Do you ever rent out space in your venue or share ticket revenue with another Promoter? Utilize a Ticketed Rental Event to manage costs and split ticket revenue.
Note that some of the language and design on Rentals was updated in December 2021, you can view a full list of changes in our release notes.
Create a Rental Event
To create a Rental Event, create a hold and toggle on "Rental" in the event builder. This toggle will also require you to enter a "Renter Name". This may be the name of the person or group renting the space or the promoter that you are working with to put on the show. Fill out the additional fields on the hold builder and then click Save.
Note that event templates can be used for Rental events that include ticket build information, costs, and promoter deals.
Note that you can change the Renter, if needed, in the Event Settings via the three dot menu in the top right corner of the event page:
In an Event on the Rental Tab
What type of event is this?: If the Promoter (or Renter) is responsible for all tickets sales or there are no tickets involved at all, select "Non-Ticketed". If you are responsible for selling tickets to the show select "Ticketed" and enter in the percentage of Net that the Promoter will receive in the Promoter % field.
**Check out our step by step guide to building a rental for a corporate event, a wedding, or any other event that does not involve tickets**
Room Fee: You have the ability to either "Enter a Flat Amount" as a Room Fee by adding a number to the Room Fee field or you can select "Calculate from Costs" to calculate the room fee based on costs entered on the costs tab. If you are looking to create an itemized list of the costs for the rental or show, we recommend to use the Calculate from Costs function.
On a Ticketed Rental Deal, the Promoter payout will be calculated as a percentage of Adjusted Gross minus either the manually entered room fee or the sum of expenses built out on the cost tab.
Bonus Terms ($ per ticket): Bonus terms will be added to the promoter payout based on the number of tickets sold.
Bar Minimum: Record a bar minimum in this category. Note that this field does not have an effect on your settlement, you will want to confirm this number with actuals when you settle.
Flat Deposit: If you are requiring a flat deposit for the room rental, add that number here. This will be factored into the settlement for the show.
**Click the purple Save button to save the information you added on the Promoter tab.**
Add Costs and Revenue
On the Revenue tab, update ticket tiers by editing the information inputted from the template or by adding new ticket tiers with the green plus button.
On the Costs tab, add a "New Cost Group" to add costs to your event. If you are using a template, update, add new, and delete costs on the Costs tab.
Generate an Offer
To generate an offer for a Ticketed Rental Event, your event will need to be in the 'Hold' Status. On the Rental tab next to the Save button, click 'Preview Offer' or 'Download Offer'.
Generate a Settlement
To generate an external settlement for a Ticketed Rental event, the show must be in the Confirmed or Settlement stages.
You have the ability to add an adjustment to the Settlement by clicking the blue "Add Adjustment" button on the Rental tab. Select if the adjustment is a bonus or a charge, enter the name, and enter the amount and click Add.
To generate the external settlement click 'View Settlement' on the Rental tab. Note that you also have access to your internal settlement with all of your actual internal numbers on the Internal Settlement tab on the event.
Note that on Rental Events:
You can save Rental events as a template just like Talent events, more information here.
To edit an Offer, the event must be in the Hold Status. If your show is already Confirmed or Settled and you need to edit the Offer, use the dropdown in the top right corner to change the status to "Hold." This action will unconfirm the show, but all actuals and previously entered event data will be saved.
To change a Regular/Talent Event to a Rental Event (or vice versa), you must create a new event.
If you have any questions please contact firstname.lastname@example.org.