If you're interested in trialing Owner Statements before upgrading to our Mogul plan, please contact our sales team at [email protected].
Reservation commissions are used to calculate property manager commissions and owner income on an Owners statement. After your initial onboarding, you can set up new Reservation commissions to apply to a property that doesn't have a commission applied yet.
Set up a new Reservation commission:
Click Operations > Owner statements > Reservation commissions and click +Add New
Tell us who receives the payout, you or your Owner. This defines whether a monthly Statement is generated or a monthly Invoice.
Next, configure your Earnings based on your agreement with your owner.
Commission is a percentage taken on certain elements of the reservation, and can be set by platform if your rates differ. We recommend taking your commission on the Accommodation after discounts, but there's also an option to take commission based on the full payout or customizing it to met your needs. Your commission can be recognized in a way that aligns best with your business (read more about Recognizing revenue in our help article). We recommend prorated per night, but you can also recognize this revenue based on check-in or check-out date.
Next, tell us how you split Reservation fees with your owner. The manager or owner can keep all the fees, or you can further customize for each individual fee (e.g. the manager keeps 80% of the pet fee, and the owner gets 20% of the pet fee). Reservation fees can be recognized in a way that aligns best with your business. You can recognize all reservation fees the same way, or further customize at the individual fee level.
Flat rate per reservation is a flat rate applied per reservation, charged to the owner. You can configure one rate for all reservations, or configure a different rate for a specific platform. For example, you can charge a flat rate only on Direct reservations, to help cover additional marketing expenses required to increase Direct reservations.
Apply this Reservation commission to specific properties by checking the box besides the property that the commission applies to. You cannot have more than one active commission on a property, so only properties without existing commissions can be checked.
Click Save. Now, your Reservation commission will be applied to the relevant property's reservations, and PM commission and Owner income will be calculated accordingly.