Financials

As part of the management process, we will also manage all the income and outgoings on your behalf.

When a guest pays money, it is paid directly into our trust account and held in trust until the guest has departed and the stay is complete.

As and when any invoices associated with the property come in, such as a laundry bill or an invoice for having the lawns mowed, we will pay this invoice on your behalf from the money held in trust.

At the end of the month, we will reconcile your account, totalling up all income associated with your property deducting any bills associated with your property along with our management fee, and transfer you the balance owing. Along with the payment, you will receive a full statement at the end of each month.

At the end of the financial year you will receive a full statement showing all the income and all the outgoings associated with the property that you can take to your accountant. 

What an owner statement looks like

When an owner gets a statement, there are a number of different parts to the statement as per the example below.

costs that make up the total amount the guest pays and below is an example.

Description for examples below:

• Owner tariff(rent) - The amount of money that will be attributed to the owner from the booking.

• Platform markup - This is the markup that the platforms (Airbnb, booking.com etc.) put on top of the tariff as their commission.

• Cleaning fee - This is the amount the cleaners will invoice for the clean.

• Booking fee - This is the amount charged to the guest to process their booking.

• Commission on tarriff - The commission that is charged on your tarriff.

• Laundry - The cost of laundry.

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