A financial reconciliation tool that lets property managers create, customize, and finalize monthly statements for each property owner, showing rental income, commissions, expenses, and taxes in one place.

A Property Owner Statement is a monthly financial summary that you prepare for each property owner. It brings the numbers from a given period into a single document and, once finalized, is shared with the owner through their Property Owner Portal.

Each statement shows the following totals:

Every statement is tied to one property, one owner, and one period, typically one month.

When it comes to owner statements, the following roles have the permissions below:

Note: ‘Open’ / ‘In Review’ statements are not visible to property owners. Only when you finalize a statement does it become visible to the owner.

These are the items you'll typically want in place before creating your first statement:

Profile Business Settings are available only to the team owner under Profile > Business Settings.

This section contains the account-level settings used for Property Owner Statements, including:

The base currency is the main currency used for the account. It is also used as part of a statement-related financial setup.

Reservations and expenses can use a currency different from the statement currency. When this happens, conversion rates are requested from iGMS. For the conversion rules, including the last day of the period for finalized statements and close to the current day for open ones, see the Currency conversion section in the Property Owner Statement Calculation article.

The calculation method controls how reservations are allocated to statements. This setting determines which statement period a reservation lands in.

The available calculation methods are:

Brands let you group properties under different operating names. A typical example is a single account operating two brands, such as "Cozy" and "Fiddler."

Brands can be edited but cannot be deleted, so set them up thoughtfully.

Each brand can contain details such as the brand name, location, email, phone number, and logo. The selected brand appears on Owner Statements.

Tax profiles define which taxes apply to statement calculations. They are used when calculating taxes on PM commission, services applied to PM commission, and expenses.

A tax profile can later be selected in the property’s business model setup from the property’s Management tab.

Property-specific statement setup is managed from the property editor, under the Management tab.

Each property can have one property owner assigned to it.

A property cannot have two property owners in the same team. If real-world ownership is shared, the property must be created in a separate team with a different owner.

The current contract start date is the date from which the current agreement with the owner applies.

This date interacts with statement branches and transition-date logic. For the full mechanics, see the Statement branches section in the Property Owner Statement Calculation article.

The business model setup is accessed from the property’s Management tab by clicking Change in the business model card.

From this page, you can configure:

A reservation is always calculated with the settings of the first statement where it first appeared.

This includes:

If you change any of these settings later, only new reservations, meaning reservations that have not yet appeared in any statement, will use the updated settings. Reservations that already appear in a statement will keep their original settings in every subsequent statement they touch.

When calculating each statement, the system checks the amount that has already been paid against the amount that should have been paid by the end of the statement period. This helps correct statement amounts when a reservation is altered after it has already appeared in a previous statement.

For example, if a reservation is changed after an earlier statement period, the system can account for the difference in the relevant later statement instead of treating the reservation as completely new.

How you configure commission depends on the business model selected for the property in the Management tab in the business model settings.

If the business model is set to None, PM commission is always zero for every reservation.

Rental income still appears in the statement and the Due-to-owner total still calculates normally. Only the PM commission line is zero.

Use this option if you want statements to track rental income, expenses, and the amount due to the owner without taking a commission.

In the Basic model, the base for PM commission is fixed at Accommodation after discounts, also known as the base price. You configure the commission percentage and a minimum fee per reservation.

Configure the following:

Expressed as a formula:

PM commission = min(Accommodation after discounts, max(percentage * base, Minimal PM Commission per reservation))

In the Advanced model, your PM commission has two parts that are summed together:

Total PM commission = Basic part + Split share part

Choose the base the percentage will be applied to.

Available bases:

After choosing a base, set the percentage. The same minimum and cap rules from the Basic model apply to this basic part of the Advanced commission.

Minimal PM Commission per reservation is the floor for the basic PM commission calculation. In the Basic model, this result cannot exceed Accommodation after discounts. In the Advanced model, the basic PM commission uses the same formula as the Basic model, while the split share commission is calculated separately and added to the basic part.

Add as many split share components as you need. For each, set the percentage that goes to the property manager.

Available components:

The split share part of your commission is the sum of percentage × component amount for every component you've configured.

Note: A component cannot appear both as the base for the basic part and as a split share.

For the Cleaning fee split share specifically, you can set a minimum flat split share amount.

Note: The minimum field can only be modified when the manager retains the full cleaning fee, meaning 100%. If the cleaning fee is split with the owner in any way, the minimum field is locked.

Tax profiles are created in Profile > Business Settings and selected for a property through the business model setup in the property’s Management tab.

The current release uses a single tax model: the owner is the merchant of record for taxes, not the property manager. Taxes flow through to the owner's side of the statement.”

Taxes in the statement are calculated from the property’s tax profile. They can apply to the PM commission, services applied to the PM commission, and expenses, including separate tax rules for expenses categorized as Services or Supplies.

The full tax formula is described in the Property Owner Statement Calculation article.

Brands are created in Profile > Business Settings and selected for a property through the business model setup in the property’s Management tab.

The selected brand appears on the Owner Statement. This helps teams that manage properties under different operating names keep owner-facing statements aligned with the correct brand.

Statement settings are configured from the property’s business model setup.

Available settings include:

When you edit a finalized statement and save the changes, a new version of the statement is created. The previous version is marked as Replaced and kept in history so you keep an audit trail of finalized changes.

Statements must be finalized in chronological order. For example, if February, March, and April are still open, you cannot finalize May first. The system will block the action.

Only the Account Owner and the Accountant role can finalize a statement. `cannot finalize.

To finalize, we can enter the statement that is currently ‘In Review’ from the ‘View’ embed button and click the Finalize button.

If you need to add an expense or make a correction after finalizing:

Note: You cannot delete expenses that were part of the finalized version. You can edit or add expenses after reopening, but the original finalized expenses remain in the record.

You can log expenses and adjustments in two places:

Every expense is classified as either:

The category matters for tax computation. The property's tax profile defines separate tax rules for Services and Supplies.

The tax profile is inherited from the property and cannot be edited per expense. However, we can add custom taxes that are related to the expense only.

The expense can have two statuses:

Can two property owners share a single property in the same team?

No. One property has exactly one property owner. If real-world ownership is shared, the property must be created in a separate team with a different owner.

What happens if I change my PM commission settings mid-year?

Reservations are always calculated with the settings of the first statement where they appeared. Any reservation that has already been included in a statement keeps its original settings. New reservations will use the updated settings.

Can I delete a brand?

No. Brands can only be edited, not deleted.

Can property owners edit a statement?

No. Property owners have view-only access to their finalized statements.

Which business model should I pick?

Choose None if you don't take a commission, Basic if you charge a flat percentage of the rental amount with optional platform overrides, and Advanced if your contract takes different shares from different fee types or uses a non-standard base.

Have more questions? Please feel free to reach out to us at [email protected], and we will gladly help as best and as fast as we can.