About the owner report
Understanding the Owner Report...
1. Property title is the address of your property
1a. Year = Date range of activity (2017, e.g.)
2. Accommodations = nightly rate that the guest paid x number of nights; the total. This is also the amount we use for configuring our management fee.
3. TOT (charged to guest). This only applies if Air Concierge billed the Transient Occupancy Tax to the guest. In the case a reservation occurred in a city in which Airbnb handled this automatically, this field will show $0. As such Airbnb will have charged the TOT, collected the TOT and remitted the TOT directly.
4. Cleaning Fee = cleaning charged to guest. (Below you will see cleaning amount paid to cleaners).
5. TOTAL (What Guest Paid) = Total of Accommodation + Cleaning Fee. This is the amount sites like Airbnb use to determine their "Site Listing Fee".
*This marks the end of the 'income' portion of our report. The next section will focus on charges/expenses charged from the income. At tax year end, your 1099 will reflect this amount. You will also be given a worksheet that shows all costs/expenses that you/your accountants can utilize to offset the income, including cleaning fees, management fees, credit card/site listing fees, restocking fees, maintenance fees.
A. Site Listing Fee = the fee for transacting the reservation online (3%) to cover costs of applicable credit card charges, for introduction to guest party, for access to $1,000,000 host guarantee policy (Airbnb), eg.
B. Credit Card Transaction fee = cost of credit card transaction charges, if applicable. For all Airbnb reservations, this is captured in the above ("Site Listing Fee") field.
C. Payment to Cleaners = the amount we pay to the cleaner. This usually, but not always matches what is charged to the guest (see above). Since this worksheet is configured BEFORE the reservation, we are projecting the cleaning charge but from time to time that charge may be lower or higher and in such cases we will revise this worksheet.
D. Concierge & Restocking: If/when Air Concierge has to purchase and place supplies in the home, then the costs of those items is placed here. There is no up charge by us. We simply pass through the cost of supplies (paper towels, trash bags, toilet paper, bathroom toiletries, etc.). We don't expect this fee to show up more than a few times / year. We will describe this charge in the "NOTES" section (see far right side of report).
E. Maintenance: if/when we have to call in maintenance services (plumbing, electrical, etc) then the costs of those services and parts is placed here. There is no up charge by us. We simply pass through the cost of parts & labor. We maintain receipts for all charges. We don't expect this fee to show up more than a few times / year. We will describe this charge in the "NOTES" section (see far right side of report).
F. Management Fee: This is the management fee, based on the accommodation rate and no other fees paid by the Guest.
TOTAL (What Air Concierge Paid Out) = Total of Cleaning + Concierge/Restocking + Maintenance + Management Fee.
Distribution to owner: this is the difference between TOTAL (What Guest Paid) and TOTAL (What Air Concierge Paid Out). This should tie in with your monthly distributions. *This marks the end of the 'expenses' portion of our report. At tax year end, your 1099 will reflect the income amounts. Your attached worksheet will shows all costs/expenses that you/your accountants can utilize to offset the income portion, including cleaning fees, management fees, credit card/site listing fees, restocking fees, maintenance fees.