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📣 We’re looking for feedback from property managers who use our Owner Statements / Invoices.

In our last Town Hall, ​@Marina Coimbra announced that our Markups will soon apply to all fees. Previously, Markups only applied to the nightly rate. Since this aligns with how platforms charge their service fees, markups will now be able to mitigate service fees across all platforms. 

We’ve heard a lot of great feedback from our Property Manager customers that this could have some unintended consequences on Owner Statements / Invoices, so we’re considering the following changes and want your input: On Owner Statements and Invoices, we’ll report all fees by their base rates and service fees.

For example:

  • You set a cleaning fee of $100 and have a markup rate of 18.3%, so Hospitable marks up the cleaning fee to $118.
    • Cleaning fee = $100
    • Cleaning fee service fee = $18
  • On Owner Statements/Invoices, Hospitable will display only the base rate of the fee to the Owner, and the service fee from that fee will roll into the ‘Host service fees' column.
    • Cleaning fee = $100
    • Host service fees = $18

The result is that the Owner still pays 100% of the service fee (if that is what you’ve configured) but they do not also pay the marked up on the fee, which was done for the purpose of covering said service fee. This means that you will not unintentionally give yourself a raise at your owners expense (as one of our users so eloquently put it!). 

In this video, I’ve gone over a specific example which illustrates what happens now, what would happen if we made no change, and what will happen if we make a change. Please watch this and leave feedback here in the community, or book a call with me to discuss face to face.

📞 Book a call: https://scheduler.zoom.us/emily-tunggala/markup-behavior-change-impact-on-owner-statements-invoices

 

 

 

I think this change would make the most sense.

Hi! Thanks for this video and the explanation! While I do overall like this change for Owner Statements, I do think it still requires one other tweak.  I believe there should be a column added where the Owner can see the markup charged so that all fees are transparently represented on Statements monthly.  I would recommend adding an additional column for service fees showing the mark up.  Maybe this could be labeled in a way that the owner understands why this is happening, but I do believe the full markup amount should be shown, along with the service fees we are now having to pay on that, with the end result still remaining the same (due to PM, Due to Owner etc).  I think it’s always important for the owners to transparently see all costs and for nothing to be “hidden”.  I feel this change essentially does hide the true cost the guest is paying without communicating to the Owner what is actually happening on the fee side.  In addition, I have always manually double checked the Math in the owner statements.  There have been several instances where I found errors in the system where the math did not truly “math”.  Showing these fees instead of “hiding them” on the PM side also allows us as PM’s to ensure that overall the math, maths each month.  Please let me know if I am misunderstanding something! That could be the case since this is such a huge change.  Thank you! 

I 100% agree with Kim Tarin.  I do double check the math each month and like it to be as transparent as possible.  Thank you for thinking about this for us.  

Hi! Thanks for this video and the explanation! While I do overall like this change for Owner Statements, I do think it still requires one other tweak.  I believe there should be a column added where the Owner can see the markup charged so that all fees are transparently represented on Statements monthly.  I would recommend adding an additional column for service fees showing the mark up.  Maybe this could be labeled in a way that the owner understands why this is happening, but I do believe the full markup amount should be shown, along with the service fees we are now having to pay on that, with the end result still remaining the same (due to PM, Due to Owner etc).  I think it’s always important for the owners to transparently see all costs and for nothing to be “hidden”.  I feel this change essentially does hide the true cost the guest is paying without communicating to the Owner what is actually happening on the fee side.  In addition, I have always manually double checked the Math in the owner statements.  There have been several instances where I found errors in the system where the math did not truly “math”.  Showing these fees instead of “hiding them” on the PM side also allows us as PM’s to ensure that overall the math, maths each month.  Please let me know if I am misunderstanding something! That could be the case since this is such a huge change.  Thank you! 

 

Hey ​@KimTarin & ​@mindi ! When you request we show the markup on the Owner statement, do you mean the Host service fee? The Markup and the Service fees are often used to offset one another, and so they’re typical the same or close enough, but ultimately it’s the Service fee that has the impact on the final amount you receive. 

What if we add a column for the Host service fee percentage charged? Even though you can technically “math” without it (Gross reservation income - Net reservation income = Host service fees), this would make it much more explicit for Owners and perhaps easier to explain. 

Or did you truly want the Markup rate shown here, that Hospitable uses to mark up the set prices before pushing them to the platform? 

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