Owner Management
The Owner Management facility in PMSPro allows management of accounts per OWNER. In many places around the world, this is specifically used for condominiums, rented apartments managed by a reservation agent, and vacation rental agencies. The module enables a user to add their owners and what percentage (%) of the revenue the Owner will receive from bookings to his/her Units.
A manager can add 'Cost Types' which are categories of expenses that are applied against revenue as 'debits' or expenses. An example below:
Cost Types
When costs are assigned to a unit (for example, a fixture repair) the entry is made as a 'Cost Disbursement' and applied to the Unit on the date the service was performed (or desired to be 'billed' to the Owner, back-dating and forward-dating is allowed). An example below:
To generate Owner statements, a manager chooses a date range and PMSPro automatically generates a Statement that does the following:
- Adds revenue for each Booking under the TOTAL header for completed bookings in the time period (based on departure date).
- Calculates how much of the revenue is credited to the Owner, based on what % is allocated to their Owner record, under the CREDIT header.
- Calculates how much money in Costs were disbursed for the Owner's unit(s) during the time period, as a DEBIT.
An example:
Each OWNER (associated with specific units or unit types) can also have the following analysis:
- Detailed bookings made, arriving, or departing between date ranges. This is perfect for providing a list of bookings per Owner. Click here to see an example.
- Print out specific Owner Details on the Booking Confirmation screen to override the system default. This enables the Confirmation letter to provide property-specific driving address/contact details so that a specific confirmation letter can be sent for each booking based upon the actual Room booked. This can be sent as a fax, letter, or via email with one-click. Click here to see an example.
- When used in conjunction with our Agents feature, the Discover Global Bookings Owners Module can be used to manage your payments to each Owner. Click here to see an example.
The Owners Module is an OPTIONAL module which can be added to your PMSPro system. It can be purchased and enabled at any time from our online shop.