In order to create an investor deal for a property, you need to create an investor profile for the property and have a deal template.
1. How to Create an Investor Profile:
In order to create an investor profile, go to Contacts -> Investors -> Profiles -> Create Investor.
- You can give access to the investor by selecting “Create User”. Then, you can create a username (the email address of the owner) and a password for the investor.
- There are two types of access: Financials Only View Access and Financials & Guest Data View Access.
- Enter all the details and save.
- In the profile, if you select “Custom Payment Gateway”, you can enter the details of the investor’s payment gateway, so that the payments go straight to this account. You can choose whether you want to use this gateway for the payments or security deposit in the Investor Deal.
2. How to Create a Deal Template:
In order to create a deal template, go to Contacts -> Investors -> Deal Template -> Create Deal Template. Choose a name that explains the deal, eg. 12% Management Fee.
In Profits and Expenses, you can set whom the Deal Element is charged to and the Host’s and Investor’s percentages. If you cannot find the Deal Element you have in mind, you can add it in Setting ->Finance -> Expense Type.
By using the formula given, for example (BOOKING_TOTAL_PRICE – CHECKIN – OTA_COMMISSION) * 12/100, you can set how to calculate the management fee per booking which is used in the financial reports.
3. How to Set Investor Deals
In order to set the investor deal, Go to Contacts -> Investors -> Investor Deal -> Create Deal.
- You can choose the name of the property as the Title so that later on you can find the Monthly Profit Repost easily.
- Choose the units that the deal affects.
- Choose the Investor.
- Choose the Deal Template.
- Choose the beginning and end date of the deal.
- If there is a fixed rent or management fee, enter the amounts and choose the currency.
- Choose the Income Tax Schema and Expense Tax Schema from the dropdown – if you have not created these yet, you can do so in Settings on the main menu.
- If you have already put the details of the investor’s payment gateway in her profile, you can see three options: Use Investor Custom Gateway For Payments, Use Investor Custom Gateway For Deposit, and Use Investor Custom Bank Account Information. If you want your guests to pay directly to your investor you can select these options.
- At the end when you save the Investor Deal, click on Calculate MPR (Monthly Profit Report).