All Collections
How to create owner statements with Hospitable?
How to create owner statements with Hospitable?
Anmol Parashar avatar
Written by Anmol Parashar
Updated over a week ago

As a property manager, creating clear and accurate owner statements is crucial for maintaining a transparent and professional relationship with property owners. An owner statement offers a comprehensive overview of property income, expenses, and other relevant details. This article will guide property managers through the process of generating and sending owner statements to ensure effective communication and a smooth owner-manager partnership.

Step 1: Gather the necessary information

Before generating an owner statement, gather all the essential information required for accurate reporting. An owner statement generally includes property names, addresses, rental income, occupancy rates, expenses, taxes, and other deductions. However, some property owners may expect you to report on their entitled share for each property, maintenance or repairs, etc.

Step 2: Choose a Reporting Period

Decide on the reporting period for the owner statement, such as monthly, quarterly, or annually. Consistency is essential, so stick to a predefined schedule and ensure the owner knows it.

Step 3: Utilize Hospitable's integration with Clearing or Ximplify

Consider using our integration with Clearing or Ximplify to send reservation data from Hospitable and add other booking channels to ensure you understand your bookkeeping, accounting, and reporting.

Step 4: Format the Owner Statement

Softwares like Clearing and Ximplify provide built-in templates, track transactions, and facilitate easy customization. You can create a professional and easy-to-understand template for the owner statement by including some of the following sections:

  • Property Details: Clearly mention the property name, address, and any specific identifiers for each managed property.

  • Date Range: Clearly specify the period covered by the statement.

  • Rental Income: Break down the rental income for each property during the reporting period, including any additional income sources.

  • Occupancy Rate: Provide the occupancy rate for each property, indicating how often the property was booked or occupied.

  • Deductions and Fees: List all deductions or fees taken from the rental income, such as service fees, cleaning costs, maintenance expenses, and taxes.

  • Net Income: Calculate the net income for each property by subtracting all expenses and fees from the rental income.

  • Owner's Share: Clearly state the amount the owner is entitled to receive for each property after deducting all applicable expenses and fees.

Step 5: Review and Verify

Ensure all figures and details in the owner statement are accurate and error-free. Double-check calculations, booking details, and any other information that impacts the owner's financial standing.

Step 6: Send the Owner Statement

While Clearing and Ximplify allows you to share the owner statement directly from the dashboard, you can send the owner statement via email or with the help of a digital document-sharing platform like Google Drive.

Step 7: Maintain Communication

Encourage open communication with the property owner. Please address any questions quickly and professionally, and foster a transparent and trusting relationship.


Did this answer your question?