Using business models: Checklist

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Create business models in Guesty to set up revenue share agreements with your owners. Define how each fee is calculated and shared between your business, owner, or vendor. Guesty will automatically calculate the figures for you.

Read the checklist or watch our video below before creating a business model.

 

Important:

Once a business model is saved, it can no longer be edited. Set up the items below before creating a business model.

Set up your business model to reflect the agreement between you and the owner. For example, if you agree to share the cleaning fee, include it in the formula for the net rental income calculation. 

business model cleaning fee

On the other hand, if the cleaning fee is calculated according to a different ratio between you and the owner, list it as part of the trust account income and define the commission division separately. The setup of these commissions will be automatically reflected in calculations for the owner statement.

Add owners

Add your owners in Guesty to calculate how profits are shared between you and the owner.

Adding an owner.

Add vendors

Add your vendors to Guesty to keep track of payments owed to them from your business’s trust account.

Adding a vendor.

Set up additional fees

Set up an inventory of additional fees to charge guests for extra services, such as early check-in or laundry services.

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