Default Payment Schedule
When you navigate to Reservations>Settings>PaymentSchedules you'll see that there is a single, system default payment schedule already built into your MyVR account. The Lump Sum Payment schedule policy requires the entire amount of the reservation at time of booking. This is also the default schedule for instant bookings (which you can change when creating a booking policy).
Create A Payment Schedule
Click on the Add A New Payment Schedule button to create a new payment schedule and give it a distinct name that you will easily recognize when selecting it later.
1. Select the number of payments you want to schedule (from 1-3).
2. Select when you want each payment to be made. You can choose from at time of booking, a specific number of days after booking or a specific number of days before check-in.
3. Choose whether you want a payment to be a Flat Amount, Percentage of Rents & Fees or Remainder of Rents Fees + Optional Add Ons (+Deposit).
4. Click Create Schedule when finished to save your new payment schedule.
Note: to avoid the schedule getting too convoluted for easy tracking and communication with the renter you can only select a flat amount for your first scheduled payment.