SIHOT.PMS has a fully integrated trust module to allow for seamless transaction flow from SIHOT.PMS Guest accounts to Owners accounts, allowing for automatic revenue distribution between owners and manager. SIHOT.Trust is fast becoming the leader in the market place and a preferred supply for strata managers throughout Australia and New Zealand. SIHOT.Trust has been developed in conjunction with industry experts as well as leading hoteliers in Australia.
SIHOT.Trust is an effective and efficient management tool for ownership of rooms or units within a managed property. It enables you to administer, monitor and track owner accounts. SIHOT.Trust adheres to the industry’s standard acts as well as the obligatory rules and regulations that are in place for this particular business model. It can be used in similar enterprise models throughout the world.
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.
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 and 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.
SIHOT.Trust has the ability of recording the FF&E contributions and processing the income and charges on an individual owner FF&E Account which can also be displayed on the owner’s statements.
Compliance with SIHOT.Trust is paramount. Therefore the system logs all transactions, and postings and 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.