Understanding Your Monthly Owner Statement: A Guide for Homeowners

Navigating your monthly owner statement can initially seem daunting, but with a clear understanding of its structure and contents, you'll quickly become adept at monitoring the performance of your rental property. These statements are vital for tracking the financial health of your investment, providing a detailed breakdown of income and expenses associated with your property. Here's what you need to know:

Monthly Statements and Payments:

• Owner statements are generated monthly, with payments processed by the 15th of each month.
• Each statement is uploaded to your owner portal, triggering an email notification for easy access and review.

Statement Structure:

• The statement end period date is displayed at the top for quick reference.
• Charges are listed in the left column, while income figures are on the right, ensuring a straightforward comparison.

Reservation Details:

• Detailed reservation data includes:
  • Reservation Number: Tracking individual bookings.
  • Guests' Dates of Stay: Essential for understanding occupancy.
  • Room Charge Breakdown: Nightly charges aggregated by reservation, providing clarity on income from room bookings. 
    • Note:  Stays that cross months will be processed separately for each month based on the specific dates of stay within that month.  
      Example:  Guest stays from 1/30-2/10.  The January nightly rent will be reflected on the January statement.  The February nightly rent will be reflected on the February statement. 
• Cleaning Fee: A passthrough charge collected from guests, then paid out, detailed under each reservation.
• Management Fee: Calculated as a percentage of the room charge, as outlined in your property management agreement.
• Taxes: State-applicable taxes, listed as both income and charges, ensuring compliance with local regulations.

Additional Financials:

• Business Taxes: Specifically for the Hawaii market, this section covers the GET tax on management fees.
• Vendor Bills: Lists vendor name, invoice number, service date, and charge details, with invoices accessible through the owner portal.

Payments to Owner:

• Payment methods (check or ACH) and the total amount paid out are clearly detailed.
• The statement balance reflects any retained target balance in the trust account, available for review.

Statement Summary:

• The memo section at the end of the statement highlights important information from the marketing and accounting teams.
• A transaction summary provides a month and year-to-date financial overview.
• Review deferred bills and total dues, ensuring all financial obligations are understood and managed.

For any queries or further clarification, homeowners are encouraged to reach out to their property manager first then the accounting team at Gather may assist further. This guide, coupled with the detailed monthly statements, aims to empower you with the knowledge needed to effectively manage and optimize your rental property investment.