Once on the New Owner Contract page, you'll need to fill out the following information:

Name - Name of Owner Fee.
Description - Optional description of Owner Fee.
Property Booking Commission Rate - Enter PM commission amount.
Travel Agent Fees - Using the dropdown menu, select how to handle travel agent fees. Take off the Top, Owner Pays, PM Pays. See the screenshot for a quick breakdown of that profit split.
Revenue Recognition - Using the dropdown menu, select how to recognize revenue. First Night, Last Night, Checkout, or Prorated.

Scrolling down to the Accounting section, you can change which Management Fee Vendor is associated with this contract, change the Manager Fee GL Account and add this to a Manager Fee Tax Group. It's advised to leave these all as-is.

In the Select Owner Fees section, add any fees that may apply. In our example we're creating a 15% contract with an additional 3% in credit card fees added on.

In the Statement Format section, click the box to Show travel agent commissions and leave blank to keep this information off owner statements (most clients use the latter option).

Once finished, click Save and repeat the process until you've created all necessary owner fees.

Create Owner Contracts

Introduction