Owner and commission agreements
🇳🇱 Nederlandse vertaling
In this article you can find anything about the different commission agreements that can be set with accommodation owners.
When you rent out an accommodation for an owner, you will want to receive a commission on the rent. To do so, you can enter various commission agreements in Booking Experts.
2. Checkout moment
3. Pay with respect to the start date of the appointment
4. Types of commission agreements
5. Fixed return
6. Fixed commission rate of a reservation per night
7. Commission percentage
8. Pool system
9. Percentage depending on difficulty
10. Percentage with minimum advance payout
11. Percentage with lower limit settlement
12. Fixed amount per night depending on length of stay
13. Settling costs with the owner
Settlement method
There are 4 different ways to settle with the owner, namely on departure, on arrival, with overflow and on confirmation.
On departure
The Departure settlement method ensures that reservations are settled based on their date of departure. If you create a settlement from September 1 to September 30, all reservations with a departure date in September will be included on this.
On arrival
The Arrival settlement method ensures that reservations are settled based on their date of arrival. Suppose you want to make a settlement to the owner some 14 days before the date of arrival. If you create a settlement from September 1 to September 30, then every reservation from September 15 to October 14 will be settled. However, if a reservation is made with a date of arrival that would be within 14 days, it will not be included in this statement. Such cases will have to be settled manually. Under the Settlement method, you can set the number of days that you want to settle before arrival.
Checkout at the moment that there is something to settle
Some owners' agreements will be set up whereby the organization will make a payment on x number of days before or x number of days after a reservation.
For this the frequency is As soon as something has to be settled.
This allows you to set that a reservation, for example, has to be paid 14 days before arrival.
Watch out! When scheduling an appointment with this frequency, the system will assume that the 13 days after the start of the appointment have already been settled!
With overflow
If you want to settle the reservations spread across the entire settlement period with the owner, you can choose Overflow. If you create a settlement from September 1 to September 30 and you have a reservation from September 29 to October 3, it will be split. The period from September 29 to September 30 will be settled first. However, the period from October 1 to October 3 will be settled in the next statement.
On confirmation
The Confirmation settlement method ensures that the reservations are settled based on their date of confirmation. If you create a settlement from September 1 to September 30, then every reservation that is confirmed in September will be included. Please note that this may also include reservations for stays in the next year.
Checkout moment
Booking Experts sends out equal periods for the statements.
As a result, calendar months will always be paid for.
Suppose an owner becomes the owner of the property on the 15th of March, then the first settlement (if monthly) on 1 April will take place over the period from 15 but up to and including 31 March.
The next settlement will take place on 1 May and will cover the entire month of April.
Pay with respect to the start date of the appointment
Booking Experts sends out equal periods for the statements. As a result, calendar months will always be paid for.
If you do not wish to do so, but wish to pay in relation to the starting date of the appointment, you need to tick the box at . Calculate in relation to the starting date of appointments. In the example above, the system will then make a settlement from 15 March to 14 April.
Do you want invoices to run at the same time?
You always send the rent settlement per month, at the end date of the month. Now, a new owner is created who has a commission appointment per month starting on 18-01. In the overview you will see a group with 1 rent settlement for the period 18-01-2019 until 17-02-2019. You would like it to run parallel to the other settlements, namely on the last day of the month. You can then adjust the end date of the rent settlement to 31-01-2019. The owner then settles once half a month. From February, the owner will receive the settlement on every last day of the month.
Types of commission agreements
When determining the commission agreement, you can choose from these agreements:
Percentage of commission
The owner will receive a to-be-determined percentage for each reservation at the relevant accommodation:
- Standard reservations;
- Reservations through the owner's 'direct link';
- Reservations through channels.
It is possible to set a different percentage for each group. You can also calculate a different percentage for each channel.
Percentage of commission with a lower limit
The owner will receive a fixed amount in advance (minus the specified commission) per specified frequency (monthly, quarterly, semi-annually, or annually). The total rental income for the owner's accommodation will be tabulated for each period. For the total amount, you can indicate how much, that is to say which percentage, the owner will receive for each reservation.
Per closed period (monthly, quarterly, semi-annually, or annually), a settlement is made based on the commission percentage whereby the paid advance is deducted from the to-be-paid amount. If there is less rental income than that which was paid in advance, a minus amount is automatically posted on the invoice with the invoice line: 'Supplemented by the park to reach the guaranteed lower limit'. If there is more rental income than that which was paid in advance, the owner is entitled to the difference between these amounts.
Pool system
You can add multiple accommodations to a pool system. For each day that an accommodation is not reserved by the owner, it receives one point. At the end of a period, the entire turnover is added together and the owner will receive a rental invoice. The calculation is as follows: Number of points / total number of points * total rental revenue = Amount on the rental statement.
Percentage depending on difficulty
You can make different commission agreements for each period in which you are booking. If it is difficult to book a certain week, you could make an agreement with an owner that you will receive a higher commission when booking in said week than you would receive for a weekend in a period that is easy to book. You can also agree on a different percentage when a guest specifically chooses to return to this owner's property.
Percentage with lower limit on advance
With this agreement, you can pay a fixed advance per period to the owner. You can then settle the advance later.
Percentage with lower limit settlement
For an agreement with an owner where an advance is invoiced, you can settle said advance through this agreement.
To create a commission agreement:
1. Go to the Owners tab;
2. In the right-hand submenu, select Commission agreements;
3. Click on New;
4. Select the desired commission agreement.
Please note! When you change a name in a commission agreement, the new name will be reflected on the rental statement.
Fixed amount per night depending on length of stay
Fixed return
The owner will receive a fixed monthly amount minus the commission. This does not include reservations for the accommodation.
1. Give the commission agreement a Name;
2. Select the desired Billing method;
3. Select the desired Frequency;
4. If desired, you can fill in the costs you want to settle with the owner;
5. If desired, you can change the name of the Fixed amount in, for example, 'Monthly payment'. This will also be reflected on the invoice line;
6. Select the General Ledger account to which you want to link the payout;
7. Enter the amount for the Fixed payment;
8. If desired, you can change the name of the Fixed amount to commission. You can set this name yourself and it will then be reflected on the invoice line;
9. Select the General Ledger account to which you want to link the payout;
10. Enter the amount for the Permanent commission.
When you have determined the name under the Fixed amountand Fixed amount to commission headings, you will see this reflected in the invoice lines of the rental settlement to which you have applied this commission agreement.
Fixed commission rate of a reservation per night
The owner will receive the revenue of every reservation of the accommodation after deduction of a fixed commission rate per reservation per night.
1. Set a Namefor the commission agreement;
2. Select the desired Payment method;
3. Select the desired Frequency;
4. If desired, you can fill in the costs you want to settle with the owner;
5. Name the rental revenue;
6. Select the Account ledger to which you would like to pair the commission;
7. If desired, you can deviate from the standard Percentage of rent paid out;
8. Name the commission agreement. This is the name that will show up on the invoice;
9. Select the Account ledger to which you would like to pair the commission;
10. Choose the Standard commission rate per night;
11. Choose the Maximum commission rate per reservation;
12. It is possible to set a different commission rate for a certain time period.
Example:
You set the standard commission rate per night to €15. You also set the maximum commission rate per reservation to €150. This means that a commission rate of €15 per night will be charged. However, it is possible that a reservation is made for a longer time period, such as 14 nights. This would mean a commission charge of 14 nights x €15 per night = €210. The maximum commission rate per reservation is set to €150. This means that no more than €150 will be charged for this reservation.
It is also possible to choose to set the commission rate to a higher fee, during peak season, for instance. Should a reservation overlap with the indicated period, the standard commission rate per night in combination with the different commission rate will be charged.
Commission percentage
The owner will receive a to-be-determined percentage for each reservation at the relevant accommodation:
- Standard reservations;
- Reservations through the owner's 'direct link';
- Reservations through channels.
It is possible to set a different percentage for each group. You can also calculate a different percentage for each channel.
1. Give the commission agreement a Name;
2. Select the desired Billing method;
3. Select the desired Frequency;
4. If desired, you can fill in the costs you want to settle with the owner;
5. If desired, you can change the Name of the rental revenue. This will also be reflected on the invoice line;
6. Select the General ledger account to which you want to link the to-be-paid rent of the agreement;
7. If desired, you can deviate from the standard Percentage of rent paid out;
8. If desired, you can change the name of the Percentage of the rent. You can set this name yourself and it will then be reflected on the invoice line;
9. Select the General ledger accountto which you want to link this commission agreement;
10. Enter the Commission percentages;
11. Check whether the commission should be calculated on the net rent or on the gross rent, after which the VAT rate is applied.
12. If desired, you can set a custom commission percentage for each channel. You can do so for multiple channels. Click on + Add another one if you want to enter a specific percentage for multiple channels;
13. To add another percentage click on + Add another;
14. If desired, you can remove a percentage of the rent by clicking on Delete.
Example: Suppose you want to process the following in the commission agreement
- Total gross rent: €1000
- Deduction of 3% maintenance costs = €970
- Commission of 20% on the remaining sum;
- (1/100% * 97%) * 0.2 = 19.4% commission on the rent (in this case €1000) to calculate 20% of €970.
You should then enter 19.4% as the Standard commission percentage, since this is the commission calculated on the rent minus the previously deducted 3% maintenance costs that are charged for each separate reservation.
Please note! If you have created multiple percentages of the rent, and you have saved this commission agreement, then it is no longer possible to remove that percentage from the rent.
Pool system
With a pool agreement, owners will share the turnover from the rental properties by means of a preset distribution key.
You can add multiple accommodations to a pool system. For each day that an accommodation is not reserved by the owner, it receives one point. At the end of a period, the entire turnover is added together and the owner will receive a rental invoice. The calculation is as follows: Number of points / total number of points * total rental revenue = Amount on the rental statement.
1. Give the commission agreement a Name;
2. Select the desired Billing method;
3. Select the desired Frequency;
4. If desired, you can fill in the costs you want to settle with the owner;
5. If desired, you can change the Name of the invoice line;
6. Select the General ledger account to which you want to link the payment of the rent;
7. Select the Pool that you want to link to this commission agreement;
8. Set the number of points per day. You can deviate from these standard points, during the high season for example, by adding an extra period;
9. To do so, click on + Add another one.
10. If desired, you can change the name of the Percentage of the rent. You can set this name yourself and it will then be reflected on the invoice line;
11. Select the General ledger account to which you want to link this commission agreement;
12. Enter the Commission percentages;
13. If desired, you can set a custom commission percentage per channel. You can do so for multiple channels. Click on + Add another one;
14. To add another percentage click on + Add another;
15. If desired, you can remove a percentage of the rent by clicking Delete.
Percentage depending on difficulty
This agreement allows you to use a specific commission percentage depending on the period of the reservations (week, weekend, night) You can make different commission agreements for each period in which you are booking. If it is difficult to book a certain week, you could make an agreement with an owner that you will receive a higher commission when booking in said week than you would receive for a weekend in a period that is easy to book. You can also agree on a different percentage when a guest specifically chooses to return to this owner's property.
2. Select the desired Billing method;
3. Select the desired Frequency;
5. If desired, you can change the name of the Rental Revenue, this will also be reflected on the invoice line;
6. Select the General Ledger account to which you want to link the payout;
8. If desired, you can change the name of the Percentage depending on difficulty;
9. Select the General Ledger account to which you want to link the agreement;
10. Enter the percentages for the relevant periods.
Percentage with minimum advance payout
For this agreement, you can charge a fixed advance per period. You can use this to settle the advance. The owner will receive a fixed amount in advance (minus the specified commission) per specified frequency (monthly, quarterly, semi-annually, or annually). The total rental income for the owner's accommodation will be tabulated for each period. For the total amount, you can indicate how much, that is to say which percentage, the owner will receive for each reservation.
2. Select the desired Billing method;
3. Select the desired Frequency;
5. If desired, you can change the name of the Fixed advance amount;
6. Select the General ledger account to which you want to link the payment of the advance;
7. Enter the amount for the Fixed payout.
Percentage with lower limit settlement
For an agreement with an owner where an advance is invoiced, you can settle said advance through this agreement. Per closed period (monthly, quarterly, semi-annually, or annually), a payment is made based on the commission percentage whereby the paid advance is deducted from the to-be-paid amount. If there is less rental income than that which was paid in advance, a minus amount is automatically posted on the invoice with the invoice line: 'Supplemented by the park to reach the guaranteed lower limit'. If there is more rental income than that which was paid in advance, the owner is entitled to the difference between these amounts.
2. Select the desired Billing method;
3. Select the desired Frequency;
5. Select the General ledger account to which you would like to link the to-be-paid rent for the agreement;
7. Select the General ledger account to which you want to link the deducted commission from the agreement;
8. Enter the Commission percentages;
9. If desired, you can set a custom commission percentage for each channel. You can do so for multiple channels. Click on + Add another one;
Fixed amount per night depending on length of stay
2. Select the desired Settlement method;
3. Select the desired Frequency;
4. If desired, set the costs to be Settled with the owner;
5. If desired, you can change the Name of the commission, this will also be shown on the invoice line;
6. Select the Ledger account to which you want to link the commission;
7. Set the Minimum stay and the night price. To add one more, click + Add another.
If a guest makes a reservation for 4 nights at the owner's accommodation, the owner will receive 4 nights x € 30 = € 120 in commission.
Settling costs with the owner
Some cost items can be collected on behalf of the owner. These cost items must be paid to the owner. As to which cost item this applies to, you determine this in the owner agreement (if different) or at the commission agreement (for all owners with this commission agreement). These costs will be transferred to the owner's rental account.
2. In the right sub menu, select Commission agreements;
3. Click on the relevant commission agreement to edit it or create a new one;
4. At Settle costs with the owner, select the relevant costs and enter the percentage to be transferred.
5. If desired, enter another general ledger account on which the settlement should be posted.
