As a property manager, you know that managing the fees that you charge to the owners can be a lot of work. That's why Hosthub offers a feature that allows you to automate the calculation of manager fees. This can save you a lot of time and hassle, and it can also help you to ensure that your fees are calculated accurately.
To automate the calculation of manager fees in Hosthub, you will need to do the following:
Go to the Rental page and select Edit rental details for the rental that you want to automate the manager fees for.
In the Manager Fee formula field, select the desired calculation formula.
In the Manager fee % set the percentage you want to apply as a fee using the above formula.
There are four possible formulas:
Percentage on: booking value
This formula calculates the manager fee as a percentage of the booking value. The booking value is the total amount that the guest pays for the booking, including the nightly rate, but excluding cleaning fee, and any other fees or taxes.
For example, if the booking value is $1,000 and the manager fee percentage is 10%, then the manager fee will be $100.
Percentage on: booking value + cleaning fee
This formula calculates the manager fee as a percentage of the booking value plus the cleaning fee. The cleaning fee is the amount that the guest pays to the property manager to cover the cost of cleaning the rental after the guest's stay.
For example, if the booking value is $1,000, the cleaning fee is $200, and the manager fee percentage is 10%, then the manager fee will be $120.
Percentage on: booking value + cleaning fee + other fees + taxes
This formula calculates the manager fee as a percentage of the booking value plus the cleaning fee, other fees, and taxes. Other fees may include pet fees, damage deposits, or late checkout fees. Taxes may include local occupancy taxes or state sales taxes.
For example, if the booking value is $1,000, the cleaning fee is $200, other fees total $100, and taxes total $50, and the manager fee percentage is 10%, then the manager fee will be $135.
Percentage on: total payout
This formula calculates the manager fee as a percentage of the total payout to the property owner. The total payout is the amount of money that the property owner receives after the channels have deducted the service fees they charge.
For example, if the total payout to the property owner is $1,000 and the manager fee percentage is 10%, then the manager fee will be $100.
Click Save.
The manager fee for each booking will now be calculated using the formula that you selected at the rental level.
The fee will be calculated at booking creation time, and it will remain the same even if you change the formula in the future.
If at some point you change the calculation formula for a rental and then you wish to update the calculation for a past booking, you can do so by going to the Booking page for the booking. In the Manager Fee field, click the Info icon. This will show you the calculation formula that was used for this booking. You can then update the fee using the current calculation formula for the rental.
Automating the calculation of manager fees in Hosthub can save you a lot of time and hassle. It can also help you to ensure that your fees are calculated accurately. If you have any questions about this feature, please contact Hosthub support.