Condo hotels balance a multitude of factors between condo owners and hotel guests. A guest has a regular hotel experience, but an owner has an investment in the unit that results in proceeds back to them. The condominium module to Lodgical Solution PMS manages the day-to-day tasks of a condo-hotel. This package is designed from input by people in the condo-hotel industry to meet the needs of this unique property type.
Even Out Proceeds Between Owners
The goal of a condo-hotel is to balance payout across all owners. Calculate this through Lodgical’s Rotation function. Rotation considers what units are getting reservations, and what units should get the next reservations. No owner gets more revenue than another. Organize rentals by nights or proceeds, so the property is rented as evenly as possible. Criteria can be further customized to fine-tune a property’s rotational needs.
Reports, Invoices, and Direct Booking for Owners
The Owner’s Portal is a resource for owners to keep track of their important information and rentals. They see direct updates to their proceeds statements, rental summaries, as well as invoices for maintenance fees or dues. A calendar shows when their unit is being rented, and they can make owner’s stays bookings directly on the portal.
Pay Owners and Automate Fees
Whether a cleaning fee is paid by the owner or the guest, or a service charge is a part of owner’s proceeds or not, Lodgical gives the flexibility to customize financials according to a Homeowner’s Association’s (HOA) specific requirements. And it is all automated! Billing owners is easy. Reports and invoices are directly emailed from Lodgical Solution, even in bulk function with individualized emails to each owner. Create 1099 forms. Lodgical supports Automated Clearing House (ACH), allowing properties to automatically process charges from owner’s checking or savings accounts.
Flexible and Customizable
Condos run on monthly or departure schedules—or when proceeds are distributed via a monthly calendar time or when a reservation leaves when the start of the stay was in the month before. Lodgical Solution supports both proceeds-based tracking. If a unit has more than one owner, that is recorded, and proceeds calculated accordingly. Rent units that owners give leave for guests and have units that are non-rentals to the public. Owner and referral stays are tracked with personalized settings that can affect owner’s proceeds. The customizability of the condo module is endless!