How to Create Guaranteed Return Service Contract on Softinn PMS

Hello Softinn PMS user. Are you a Property Management Company that is managing multiple properties for the owner?

If yes, you’ll need to do a different service contract agreement with each of the individual property owners.  The purpose is to customize the Revenue and Expense ratio between you and the property owner. 🙂

There are a few types of service contract agreements and one of them is Guaranteed Return Service Contract.

Guaranteed Return service contract is an agreement whereby You will pay a monthly guaranteed amount to the Owner with additional sharing of revenue when the reservation revenue exceeds a certain amount.

Imagine you are a Property Management Company (Property Operator) managing property in Ecovest Tower. Property owner of BnB Unit A-06-1 Owner 1 engage your service to manage his homestay. BnB Unit A-06-1 Owner 1 asks for a guaranteed return of RM4,000. When the monthly reservation revenue exceeds RM4,000, the revenue will be shared with the Owner with the ratio of 70:30 (70% for Owner and 30% for You).

Hence, you have proposed to proceed with a guaranteed return service contract. On Softinn PMS, you as a Property Operator can create a guaranteed return service contract with BnB Unit A-06-1 Owner 1.

Check out the video & guidelines below to know how to Create Guaranteed Return Service Contract on Softinn PMS:

Steps to Create Guaranteed Return Service Contract on Softinn PMS:

Follow the guidelines below:

Step 1 : Go to Softinn PMS

Step 2 : Select the right property

Step 3 : Click “Property Group

Step 4 : Click “Service Contract

Step 5 : Click “Add Service Contract

Step 6 : Insert the name of your service contract

Step 7 : Select the properties. In this case, it is BnB Unit A-06-1 Owner 1. Click “Next

Step 8 : Click “Guaranteed Return” tab

Step 9 : Insert Guaranteed Return amount

Step 10 : Insert Total Revenue Threshold amount

Step 11 : Insert the % revenue sharing after the threshold

Step 12 : Insert Administrative Fee charges. Click “Next

Step 13 : Customise your Revenue Configuration. Click “Next

Step 14 : Customise your Expenses Configuration. Click “Next

Step 15 : Payout Configuration by Checked-out Reservation

Step 16 : Insert your financial period Start Date

Step 17 : Click “Add New Contract

You can view, edit, and delete the service contract that you have created accordingly as well.

Hope this helps you to create a guaranteed return service contract on Softinn PMS! 🙂

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