Embedded Files
UNDERSTANDING YOUR OWNER STATEMENT
The owner statement details all of your property’s income and expenses and the net amount paid to you each month. Payment will be made to your bank account monthly by the 7th of the month. The following sections explain each part of the owner statement.
Please note: the "base rate" displayed in your owner portal is the total amount paid to PHH by the booking platform. It includes the cleaning & linen fees but not the platform fees. The platform fees are retained by PHH and paid to the platforms directly.
$500 FLOAT
PHH will hold a $500 float in your account at the end of each month. This is so that third parties can be paid if there are no bookings at the start of the month.
Example:
In Nov the owner has $5000 in their account at the end of the month. We pay the owner $4500 for that month and leave $500 in the account as a float. In December we use the float to pay the cleaner $200 in the first week of the month so the balance is $300. The property earns $4000 that month so the account balance is $4300 at the end of the month. We then pay the owner $3800, leaving the $500 float in the account again.
INCOME
Notes:
Bookings with zero value are owner bookings
PHH's Management Fee (commission) is charged on each booking payment received. It is displayed in the MngFee column. This includes proceeds from cancelled bookings.
Stayz & Booking.com commissions are set aside and are paid by PHH so are not displayed on your statement. Airbnb deducts its fees prior to sending the booking proceeds to the trust account.
EXPENSES
Expenses include cleaning, lawn mowing, maintenance, etc.
Copies of each invoice can be viewed in the invoices section of your owner portal.
Unpaid expenses contains invoices that have been loaded for payment but which have not yet been paid.
Invoices are paid to third parties every Thursday from the trust account.
TOTALS
The totals section displays a summary of the income, expenses and the net amount paid to you each month:
MONIES TO FOLLOW
The Monies to Follow section displays bookings which have checked in and have had funds received to the trust account but have not yet been disbursed to your account:
FORWARD BOOKINGS
The forward booking section displays all of your current confirmed future bookings. These are subject to modifications or cancellations by guests.
Booking Website Markups:
These are the amounts added to the prices on the booking websites to cover platform commissions and card processing fees.
Guest payments to Stayz (vrbo / Expedia) & booking.com are paid by the guest via credit / debit card via the HomHero system / our merchant facility to the trust account. The Stayz (vrbo / Expedia) & booking.com markups are retained by PHH and commissions are then paid to to them on your behalf.
Markups are set at 18% for all booking websites, therefore the price should be almost the same on each website (there may be slight variances due to discounts applied on the individual platforms)
For Stayz & Booking.com the 18% includes the merchant fees (for credit / debit cards)
On the PHH website we charge a 8% booking fee + card fee of 1.9%. There is no % markup.
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