Dear Owners,
Following my update in October, I’d like to address one of the most common questions we’ve been receiving: the timings of guest payouts. I understand how important clarity and efficiency are for you, so here’s a detailed breakdown of how payments are currently managed across various platforms.
Current Payout Processes
Direct Bookings
Guests booking directly are required to pay a 10% deposit at the time of booking, with the remaining balance due six weeks before their arrival. Direct bookings also give guests the option to take out holiday insurance, providing them with additional protection should they need to cancel.
Booking.com
•Before 14th November 2024: All new bookings were managed entirely by Booking.com. Payments were processed 14 days after the guest’s departure.
•After 14th November 2024: We’ve brought payment processing in-house using Yapstone, integrated with our SuperControl payment system. This shift eliminates the 14-day wait time for payouts, ensuring funds reach us before the guest’s arrival.
What does this mean for you?
- Reservations made before 14th November 2024 will still follow the original Booking.com payment process.
- Reservations made on or after 14th November 2024 are managed by us directly.
- Currently, there are 160 future bookings through Booking.com that were made before 14th November 2024 and will follow their original payment schedule.
Airbnb
Airbnb advertises payouts 24 hours after the guest’s arrival, but in practice, processing times can delay payments by up to 14 days. Unfortunately, we have no way of bringing Airbnb payments in-house.
Sykes Cottages
Sykes processes payments on a fixed monthly schedule, with payouts made on the 25th of each month. This means that bookings made between the 25th of one month and the 24th of the next are paid out in a single transaction.
Why Payments to Owners Are Scheduled Around the 14th of Each Month
Given the varied payment schedules across platforms, we’ve aligned owner payouts to fall around the 14th of each month. This allows us to account for delays, particularly with Booking.com and Airbnb.
In the meantime, we must cover several upfront costs, including:
- Cleaning and hot tub fees: These are invoiced weekly by The Devon Cleaning Company, often before guest payments are received.
- Maintenance and certifications: Any required maintenance work, as well as safety testing, is paid promptly to ensure compliance and high standards.
These costs can run into the thousands each month, and while they are deducted from your owner statements, the suppliers must be paid in advance—often before we receive the revenue from guest stays.
Efforts to Streamline Payments
Bringing Payments In-House
By handling Booking.com payments ourselves via SuperControl, we aim to improve efficiency, reduce delays, and enhance reporting accuracy. This is part of our ongoing commitment to finding better ways to manage the process.
SuperControl Integration
We’re working closely with the SuperControl team to further automate the payment and reporting process. Currently, much of the work involves manual collation of information, which can take days each month. However, with improvements to the system, we’re optimistic that this can be reduced to four hours per month—a significant time-saving for everyone involved.
Looking Ahead
We are continuously reviewing our processes to ensure they meet your expectations and improve efficiency wherever possible. I appreciate your patience and understanding as we navigate these changes and strive to provide a better experience for you and your guests.
If you have any questions or concerns about these updates, please don’t hesitate to reach out.