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Getting started with Owners statements
Getting started with Owners statements
Emily Tunggala avatar
Written by Emily Tunggala
Updated this week

Owner Statements are available on all plans for one property. If you're interested in using Owner Statements for more than one property, contact our Customer Success team about upgrading to our Mogul plan: [email protected].

Monthly Owner statements are automatically generated for every Property that has an Owner and Reservation commission.

Owner statements onboarding

To get started with Owner statements, a simple onboarding flow will bring you through all of the necessary steps.

  1. Click Operations

  2. Click Owner statements

  3. Click Get started

Add an Owner

An Owner is the Individual or Company that the Owner statement will be addressed to. Owner statements are generated automatically and sent manually, so you will always have an opportunity to review the Owner statement before you choose to share it with the Owner.

Add properties

Next, select the properties that belong to that Owner. You can select as many properties as you like, and an Owner statement will be generated for each.

Set up a Reservation commission agreement

The Reservation commission agreement is associated with the Owner's Properties, and has several components.

Agreement name

Give your agreement a name, so you can recognize it in case you need to apply it to new properties in the future. For example, you might have a few tiers of property management services you offer, and can name your agreements as such (e.g. Basic property management and Premier property management). This name is internal to you.

Payout direction

  • If you receive the reservation payouts and pay the Owner their earnings, we'll generate a monthly Statement for you. Select 'My Company' if you want to generate monthly Statements.

  • If the Owner receives the reservation payouts and owes you a commission, we'll generate a monthly Invoice for you. Select 'The Owner' if you want to generate monthly Invoices.

Configure your earnings

Earnings are determined per reservation, and can combine percentage-based commission, guest fees split between you and your owner, flat fees charged to the owner and pass-through taxes.

Commission

This is the percentage-based commission charged on the reservation, and can be made platform-specific. You can charge commission on accommodation after discount (recommended!), on the payout amount, or define a custom way that works for your business.

πŸ’‘ Helpful tip - If you subtract host service fees before you calculate your commission, we support that! Select Custom and include the 'Host Service Fee'. This will subtract the Host Service Fee from the Accommodation after discounts before calculating your commission percentage.

Reservation fees

Tell us how you split the reservation fees (or not!) between you and your owner. If you do something custom for each fee, choose 'Custom' and let us know the percentage of each fee you keep.

Flat fee per reservation

You can optionally charge the Owner a flat fee per reservation, and make that specific per platform. If you charge a flat fee to the Owner, click 'Include flat fee' and tell us the amount (in your property's currency).

πŸ’‘ Helpful tip - Consider charging a higher flat rate for Direct bookings, to help cover marketing costs.

Pass-through tax responsibility

Last but not least, let us know who is responsible for remitting any pass-through taxes. If any pass-through taxes are present on a reservation in a given month, we'll display that on the Statement if the Owner is receiving that as a part of their payment, and is responsible for remitting them to the tax authorities.

Statements

To view your Statements, go to Operations > Owner statements > Statements.

Once an Owner and Reservation commission are created for a property, Statements will be generated automatically. By default, we generate Statements for the previous calendar month, and the current and future months if reservations and transactions exist for that month.

Reviewing Statements

When a month closes, the Statement for that month moves to the In Review tab. Statements in this tab are done receiving reservation, but Transactions can be added and a new Reservation commission agreement can be applied if necessary.

When you've confirmed the Statement looks good, it's time to Publish! Publishing a Statement locks in all of the data and allows you to download the Statement in PDF form to share with your owners. Once you Publish a Statement, it cannot be modified.

πŸ‘€ Soon, Publishing a Statement will do more than just lock the data in place! Publishing a statement will eventually...

  • Trigger data to be sent to your account software.

  • Upload the Statement to an Owners Portal for your Owner to review.

  • Initiate payment to your Owner (or request payment from your Owner).

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