Administration For Owners
PMS Integrated Owner Management
SIHOT.PMS can be expanded with a completely integrated owner management system, which executes all transactions between the guest and owner accounts and distributes the sales according to the contractual regulations. SIHOT.TRUST is an accounting module that was developed for hotels whose rooms or apartments were bought by different people or companies (“owners”) as an investment. This is a special business model that is often subject to strict legal requirements.
The owner management must therefore meet a number of special features, because the income of the hotels, which is generated by renting the rooms and apartments, is divided based on the contracts between the management and the owners. Hotel services, such as those from the F&B area, are normally paid separately, as the owners have no share in these sales. In addition, there are deductions, for example for reserves and repairs, as well as costs that owners have to pay for marketing and other company areas.
Flexible Contract Management
Ownership: Standard Owner Contracts give the manager the ability to have different revenue splits and fees per contract allowing the manager to negotiate different agreements per owner to assist in increasing their letting pool. Also, the change of an ownership can be processed with ease.
Contracts: Guaranteed return contracts provide the ability to load a fixed monthly return that can be paid to the owner regardless of actual occupancy and/or revenue returns for a particular unit. Pooled Owner contracts provide the ability to load unit entitlements for each individual unit in the pool. This allows the total income to be pooled and then dispersed to the unit owners by entitlements. Pooling also handles owner stays to reduce the income of the owner and distribute to the remainder of the pool. SIHOT.TRUST has the complete flexibility of allowing you have to have a mixture of contract types in the system at any one time.
Charges & returns: SIHOT.TRUST allows for fixed standard monthly charges to be configured so you can predetermine standard fees like PABX hire, Window cleaning, Pay TV charges per contract that will be automatically posted at the end of the month. Owner charges can be amended in advance, to allow the manager to prepare for CPI increases and/or changes in fees and charges.
Ad hoc fees can also be posted to individual unit owner accounts. With SIHOT.TRUST you also have the ability of importing the charges via a CSV import. Ideal for contractor invoices where you have different charge amounts per contract.
Compliance with SIHOT.TRUST is paramount. Therefore the system logs all transactions, and postings as well as charges can’t be deleted. You must reverse any charges/postings made in error. This ensures a full audit trail which ensures compliance and also provides the manager a better overview of the processes in the system.
SIHOT.TRUST has a synchronised banking module that keeps track of all trust receipts processed for the month and can be matched to your actual bank statement allowing you to have up to the minute 3 way balances to ensure you are on track for end of month. Synchronised banking will automatically calculate your money-in-transit figure and show you the exact transactions.
There are a variety of statement options that will meet all your owner’s needs. SIHOT.TRUST also includes an end-of-year statement that can be produced to the owner for all their accounting needs. All statements can be emailed direct from the system at the end of the month.