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Legal & Finance • 8 min read • 2025-03-24

How to Create Owner Statements for Your Holiday Properties

Owner statements are the financial backbone of any holiday let management business. Learn what to include, how to structure them, and how to automate the process.

How to Create Owner Statements for Your Holiday Properties

If you manage holiday properties on behalf of owners, the owner statement is arguably the most important document you produce. It is the primary financial communication between you and the people who trust you with their assets. A clear, accurate, and professionally presented owner statement builds confidence, reduces disputes, and demonstrates the value you provide as a manager.

If you are an owner-operator managing your own properties, owner statements are equally valuable — they give you a structured monthly or annual view of income and expenses that makes tax preparation, financial planning, and performance tracking much simpler.

This guide covers what belongs in an owner statement, how to structure one, common pitfalls to avoid, and how to scale the process as your portfolio grows.

Disclaimer: This article is for informational purposes only and does not constitute professional financial, legal, or tax advice. Consult a qualified professional for your specific circumstances.

What Is an Owner Statement?

An owner statement (sometimes called a property statement, remittance statement, or trust account statement) is a periodic financial summary that details:

  • All income received on behalf of the property owner during the period
  • All expenses deducted from that income
  • The net amount due to (or occasionally owed by) the owner
  • Any funds held in reserve on the owner's behalf

For property management companies operating under an agency arrangement, the owner statement also fulfils a legal and fiduciary purpose — it demonstrates that you have properly accounted for money held on behalf of the owner in a client trust account.

Why Owner Statements Matter

For Property Managers

  1. Transparency and trust. Owners who see a clear, itemised breakdown of income and expenses are far less likely to question your management fees or dispute deductions. Transparency builds long-term working relationships.
  2. Legal protection. A well-documented statement is your evidence that you accounted correctly for funds. In any dispute, your records are your defence.
  3. Professionalism. Owners expect professional management to include professional reporting. Poor or infrequent statements are a common reason owners switch managers.
  4. Business intelligence. Aggregated across your portfolio, owner statement data tells you which properties perform best, which have recurring cost issues, and where pricing improvements could generate more income.

For Owner-Operators

  1. Tax preparation. An organised monthly summary of income and expenses makes your annual self-assessment return far simpler — and gives your accountant exactly what they need.
  2. Performance tracking. Year-on-year comparison of owner statements reveals trends in occupancy, average nightly rate, and cost base.
  3. Mortgage and investor records. If you are ever seeking refinancing or bringing in a partner, clean financial records are essential.

What to Include in an Owner Statement

Header Information

Every owner statement should clearly identify:

  • Property name and address
  • Owner name(s)
  • Statement period (e.g. 1 March 2025 – 31 March 2025)
  • Statement number or reference
  • Date of issue
  • Management company name and contact details

Income Section

List every booking that generated income during the period:

  • Guest name (or booking reference if privacy is a concern)
  • Arrival and departure dates
  • Number of nights
  • Gross booking value (what the guest paid)
  • Any OTA commission deducted at source (e.g. Airbnb or Booking.com commissions that never reached you)
  • Net rental income received

Also list:

  • Cleaning fees collected (if applicable)
  • Pet fees, extra guest fees, or other supplementary charges
  • Security deposit receipts (usually shown separately as a liability, not income)
  • Any other income (e.g. damage claims settled in the owner's favour)

Present a clear Gross Income Total and Net Income Total (after OTA commissions).

Management Fees and Commissions

This should be clearly itemised:

  • Management commission (typically a percentage of gross or net income)
  • Booking platform fees if not already deducted
  • Listing fees for platforms you subscribe to on the owner's behalf

A separate line for each type of fee prevents confusion and demonstrates exactly what you are charging.

Deductible Expenses

List all expenses paid on the owner's behalf during the period:

  • Cleaning costs — ideally per booking
  • Linen services if outsourced
  • Maintenance and repair costs — with brief descriptions
  • Utility bills paid by the manager
  • Gardening and outdoor maintenance
  • Welcome pack supplies
  • Consumables (toilet roll, toiletries, tea/coffee)
  • Insurance premiums (if paid by the manager and recharged)

For each expense, include:

  • A brief description of what the expense was for
  • The date the expense was incurred
  • The amount (and VAT if applicable)
  • The supplier or contractor name

This level of detail matters both for trust and for the owner's own tax records.

Reserve Fund

Many property managers maintain a small reserve fund — often £100–£300 per property — to cover unexpected minor expenses without having to go back to the owner for approval on every small item. The statement should clearly show:

  • Opening reserve balance
  • Additions to reserve (if applicable)
  • Expenses paid from reserve
  • Closing reserve balance

The reserve belongs to the owner, not to you as manager, and should be held in a client account accordingly.

Summary and Payment

The bottom of the statement should show a clear reconciliation:

Gross income received:        £X,XXX.XX
Less: OTA commissions:          (£XXX.XX)
Net income received:          £X,XXX.XX
Less: Management fees:          (£XXX.XX)
Less: Operating expenses:       (£XXX.XX)
Net amount due to owner:      £X,XXX.XX

Include payment details — bank account, payment date, and payment reference — or a note that payment will follow by a specific date.

Structuring Your Statement Periods

Most property managers issue statements monthly, though some issue statements quarterly or per-booking-period. Monthly statements are generally preferred because:

  • Owners can track performance month-by-month
  • Cash flow is predictable for both parties
  • Any errors are caught and corrected quickly
  • Tax records remain current throughout the year

If you issue monthly statements, consider whether to align them with calendar months or with booking activity. Calendar months are simpler administratively. Some managers prefer to use a cut-off date (e.g. the 25th of each month) to allow time for reconciliation before the statement is issued at the start of the following month.

Common Mistakes in Owner Statements

  1. Inconsistent categorisation of expenses. Describe expenses consistently from month to month so owners can compare periods easily.
  2. Missing OTA commission deductions. If Airbnb or Booking.com deducts their commission before paying you, this should be shown on the statement — otherwise it looks like income disappeared.
  3. No supporting receipts. For significant expenses, consider attaching receipts or providing an expenses portal where owners can see supporting documentation.
  4. Security deposits mixed with income. A deposit received from a guest is a liability, not income. Keep it clearly separated.
  5. Delayed statements. Issuing statements late erodes trust and creates uncertainty about when owners will receive their money.
  6. Vague expense descriptions. "Maintenance £350" tells the owner very little. "Emergency plumber callout — blocked drain — 14 March 2025 £350" is clear and defensible.

Scaling Owner Statements Across a Portfolio

When you manage a handful of properties, producing owner statements in a spreadsheet or even Word document is manageable. Once you have 10 or more properties, manual production becomes unsustainable — errors creep in, statements get delayed, and the administrative burden becomes significant.

Property management software that includes owner statement generation is not a luxury at this scale; it is a necessity. Features to look for include:

  • Automatic population of booking data from your booking management system
  • Expense recording with attachment of receipts
  • Management fee calculation (percentage or flat fee, configurable per owner)
  • Owner portal access so owners can view statements without waiting for emails
  • Year-to-date totals for easy tax reference
  • PDF export and email delivery

Manage Your Holiday Rental Business with LetPilot

LetPilot includes a built-in owner statements system that automatically calculates income, deductions, and management fees for each property in your portfolio — and lets you share statements directly with owners through a clean owner portal. No more spreadsheet gymnastics at the end of each month. Try LetPilot free at letpilot.co — no credit card required.