Rental asset fee based on customer density

• US 20040111282A1
• Filed: 12/10/2002
• Published: 06/10/2004
• Est. Priority Date: 12/10/2002
• Status: Abandoned Application

• Current Assignee: Stelios Haji-Ioannou
• Original Assignee: Stelios Haji-Ioannou
• Inventors: Haji-Ioannou, Stelios
• Application Number:
  US10/316,225
• Publication Number:
  US 20040111282A1
• Time in Patent Office: Days
• US Class Current: 705/1
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions

Abstract

The rental price for a rentable asset, such as a car, at a rental facility is adjusted during the business day of the facility dependent upon customer density at particular times during the business day, with the rental price being higher at a time of higher customer density during the day and lower at a time of lower customer density during the day, with periodic readjustments to seek uniform density of customers throughout the business day of the facility.

Claims

1. A method of establishing the rental price of a rentable asset rentable from a rental facility, comprising:

setting a nominal rental price for the asset, based at least on the value or cost of the asset to an entity including the rental facility renting the asset to a customer, the total duration of the rental arrangement, and the nature of the time period of the rental;

initially estimating the density comprising the number of customers per unit of time during selected periods of time during a business day when the facility is renting the assets to customers;

selecting and adjusting a price of rental of the asset during a business day, with respect to the nominal rental price, dependent upon the initial determination of customer density for renting of the asset at the facility, wherein the rental price for renting the asset is adjusted higher when an asset is rented at a time of greater customer density and is adjusted lower when the same asset is rented during a period of lower customer density during a business day at the facility.

2. The method of claim 1, further comprising periodically adjusting the rental price for the assets at the facility dependent upon customer density for having a lower rental price for periods of lower density at the facility and a higher rental price for periods of higher density at the facility.

3. The method of claim 2, further comprising storing information over a period of time as to the customer density during periods of a business day at the facility and using the stored information to adjust the rental price based on customer density.

4. The method of claim 1, further comprising determining the time at which the rented assets are returned to the rental facility, determining customer density at the times of return of the assets and adjusting the rental prices for the assets additionally based on the densities at the times of return of the assets to the facility, such that when the asset is returned at a time of lower density, the rental price for the asset is lower, and when the asset is returned at a time of higher customer density at the facility, the rental price for the asset is higher.

5. The method of claim 1, wherein the nature of the time period of the rental includes a workday, a non-workday, a work period and a non-work period.

6. The method of claim 1, wherein the rentable assets are cars.