Annual Owner Adjustments
Currently, Hostfully Owner Adjustments support one-time and recurring monthly adjustments, but there is no option to create recurring annual owner fees.
Many property managers charge owners annual fees for services that are billed once per year rather than monthly. Today, these fees must be manually entered each year, creating additional administrative work and increasing the risk of missed charges.
Use Case
Property managers often charge annual fees such as:
- Annual linen service fees
- Annual licensing or permit administration fees
- Annual technology fees
- Annual membership or association fees
- Annual maintenance program fees
- Annual inspection fees
In many cases, these fees vary by owner based on the services they elect to receive.
Proposed Solution
Add a recurring “Annual” frequency option to Owner Adjustments alongside the existing adjustment frequencies.
When creating an Owner Adjustment, users could select:
- One-Time
- Monthly
- Annual
The annual adjustment would automatically apply once every 12 months on a configurable date.
Benefits
- Eliminates manual annual fee entry
- Reduces billing errors and missed charges
- Supports more flexible management company business models
- Improves owner accounting automation
- Saves time for property managers managing large owner portfolios
Example
Owner A:
- 25% management commission
- $15/month Minut monitoring fee
- $250 annual linen service fee
Owner B:
- 20% management commission
- $99 annual technology fee
With annual recurring adjustments, these charges would automatically appear on owner statements and reports without requiring manual intervention each year.
Hannah Castillo
shared this idea