What a finished statement looks like
One property, one month, three stays — on Airbnb, Vrbo and a direct booking — two repair and service bills, a supplies restock, and two adjustments. The owner gets $1,642.50 of net rent, the balance available is $1,315.10, and $1,215.10 is paid out, leaving $100.00 held for next month’s bills.
Example Lake House, 3 bedrooms (fictional)
September 2026 · Example Owner (fictional) · commission 25% of gross rent
Reservations
| Stay | Channel | Rent | Cleaning | Tax | Channel fee | Commission | Net to owner |
|---|---|---|---|---|---|---|---|
| 09/04–09/07 · 3 nights | Airbnb | $750.00 | $150.00 | $108.00 | $30.00 | $187.50 | $532.50 |
| 09/12–09/16 · 4 nights | Vrbo | $1,000.00 | $150.00 | $138.00 | $60.00 | $250.00 | $690.00 |
| 09/20–09/22 · 2 nights | Direct | $560.00 | $150.00 | $85.20 | $0.00 | $140.00 | $420.00 |
| Total · 9 nights | $2,310.00 | $450.00 | $331.20 | $90.00 | $577.50 | $1,642.50 |
Expenses and work orders
- Replace kitchen faucet cartridge (WO-1042)$185.00
- Hot tub service, monthly (INV-3318)$95.00
- Guest supplies restock (paper goods, soap, coffee) (WO-1057)$62.40
Adjustments
- Damage reimbursement from Guest A (broken lamp)$45.00
- Owner stay 9/26-9/28: departure clean−$150.00
Summary
- Opening balance (carried from last month)
- $120.00
- Plus: net rental income (total of Net to owner)
- $1,642.50
- Plus: lodging tax for you to remit (only if the owner files it)
- $0.00
- Less: expenses and work orders
- −$342.40
- Plus: adjustments (credits minus charges)
- −$105.00
- Balance available
- $1,315.10
- Less: owner payout this month
- −$1,215.10
- Closing balance (carried to next month)
- $100.00
Every line, explained
- Header
- Owner, property, statement period, who prepared it, your commission rate and whether it is charged on gross or net rent.
- Check-in, check-out and nights
- Which stays the statement covers. Pick one rule for which month a stay belongs to — check-in date is common — and keep it.
- Gross rent
- The nightly rent for the stay, before any fees or commission.
- Cleaning fee
- What the guest paid for cleaning. Shown so the owner sees it; in this layout it pays for the clean and isn’t part of the owner’s net.
- Taxes collected
- Lodging and sales tax collected from the guest. It is not the owner’s income — see the lodging tax section below.
- Channel / OTA fees
- What the booking channel kept from the payout. Direct bookings usually have none, though card processing may be charged to the owner as an expense.
- Commission base and rate
- The amount your commission is calculated on (gross rent, or rent after channel fees) and the percentage from your agreement.
- Management commission
- Commission base × rate, rounded to the cent per stay.
- Net to owner
- Gross rent − channel fees − commission. The owner’s share of the stay.
- Expenses and work orders
- Repairs, services and supplies charged to the owner, each with the vendor and the invoice or work order number so the owner can match it to a receipt.
- Adjustments
- Anything else: a damage reimbursement passed to the owner (+), an owner-stay clean (−), a correction to last month.
- Opening balance
- What was carried from last month — money held back as a reserve, or a balance the owner owed.
- Owner payout
- What you actually sent the owner this month.
- Closing balance
- What’s left after the payout. It becomes next month’s opening balance.
Commission on gross or on net
Your management agreement says which. The template handles both — type Gross or Net in the header and every row recalculates. Using the example month at 25%:
On gross rent
25% × $2,310.00 = $577.50 commission. Net to owner: $2,310.00 − $90.00 channel fees − $577.50 = $1,642.50.
On net of channel fees
25% × ($2,310.00 − $90.00) = $555.00 commission. Net to owner: $2,310.00 − $90.00 − $555.00 = $1,665.00.
The difference, $22.50, is 25% of the channel fees: on net, the owner and the manager share the cost of the channel; on gross, the owner carries it alone. Whichever you use, state it on the statement so the owner can check the math, and keep cleaning fees and taxes out of the commission base unless your agreement says otherwise.
How lodging tax is handled
Lodging tax collected from guests is never the owner’s income or yours — it is owed to the tax authority. Show it on the statement so the owner can see it was collected, but keep it out of net to owner and out of the commission base. What happens next depends on who is registered to file it:
- You remit it. The tax is collected and paid by you; it appears on the statement for the record and goes no further.
- The owner remits it. Pay the tax you collected to the owner on its own line — the template’s “Lodging tax for you to remit” — so it never gets mixed into their rent.
- The channel remits it. In some places a booking channel collects and pays certain taxes itself. Those amounts never reached you, so don’t list them as collected.
Rates, who must register and what each channel handles vary by state, county and city. Check yours with your accountant.
Common mistakes
- Counting lodging tax as owner income
- Tax collected from guests isn’t rent. Mixing it in overstates the owner’s income and your commission.
- Commission on the wrong base
- Charging on gross when the agreement says net — or including cleaning fees in the base — is the most common owner dispute.
- Expenses without a reference
- A charge with no vendor, date or invoice number is the line owners question first.
- Stays in the wrong month
- A stay that crosses month-end lands on one statement only. Pick a rule (check-in, check-out or night by night) and apply it every month.
- Rewriting a sent statement
- If a booking changes after the statement went out, show the difference as an adjustment next time instead of quietly changing the old one.
- A closing balance that doesn’t carry
- This month’s closing balance must be next month’s opening balance, or money goes missing between statements.
Download the free template
No sign-up. The Excel workbook has three tabs: the filled example above, a blank statement with the formulas in place, and short instructions. Nights, commission, net to owner, totals and the balances calculate themselves. The CSV has the same example and a blank statement for any spreadsheet app. Make one copy per owner per month, and check the commission, fee and tax treatment against your management agreement.
VacayOps builds these from your bookings
If your reservations run on VacayOps, owner statements are built from the bookings on each property and the invoices for work done there. Drafts are generated for the month, marked reviewed, then issued — one at a time or all ready at once. Lodging tax an owner files themselves goes on its own line. A change after a month is issued arrives as “Adjustment 1” for the difference only; the issued statement is never rewritten. Co-owners each see their own share, and statement layouts set the sections, columns and order, with your own logo on the PDF when branding is on. Owners see issued statements in the owner portal, in the same layout.
Accounting is part of the subscription — no add-on fee for trust accounting, owner statements, accountant access or the 1099 files. VacayOps records and reconciles the money in your own bank and processor accounts. It never holds or moves funds.