Split ownership is common enough to build in, not work around
Plenty of properties are not owned by one person a couple, business partners, or an investor group with defined percentages. Generic accounting tools have no concept of this; the math ends up happening outside the system, by hand, every period. The Property Tool handles split ownership natively: set the percentages once, and every statement afterward reflects them automatically.
A management fee calculation an owner can double-check
A management fee that is a manually typed number invites disputes. Fees are calculated as a defined percentage of a stated base — gross income, or income minus certain expenses — and applied consistently across every property and every period, so any owner can redo the math themselves and land on the same number.
Each owner sees their own share, automatically
Where a property has more than one owner, each owner's portal login reflects only their percentage of the income, expenses, and fees for that property — not the whole property's numbers, and not another co-owner's share. Nobody on your team has to manually redact or recalculate a statement before sending it.
Percentages that live on the property, not in someone's head
A common failure mode with co-owned properties is that the split exists only as institutional knowledge — "it's roughly 60/40, I think Sarah handles that one." When the person who set it up leaves or forgets, the split has to be reconstructed, usually by asking the owners directly, which is an awkward conversation to have about their own money.
Setting the ownership percentage as a property-level setting means the split is a fact the system holds, not a fact one person remembers. Anyone on the team can see it, and it applies identically to every statement going forward without being re-specified.
What changes when ownership changes
Ownership shares are not always permanent — a partner buys out another, an investor group brings in a new member, an owner sells their stake. Updating the percentage on the property applies from that point forward without disturbing the historical statements already sent under the old split.
That matters at tax time especially: each owner's statements for a given period should reflect the ownership that was actually in effect then, not whatever the split happens to be today. Splits here are dated, not just current.
A management fee formula, not a management fee guess
Two common fee models — a flat percentage of gross income, or a percentage of income after certain expenses are deducted — produce meaningfully different numbers, and switching between them informally, property by property, is how fee disputes start. Setting the formula once per property and applying it identically every period removes the judgment call from each individual statement.
Property management fee structures covers how managers actually choose between those models when setting up a new property.
A worked example of a split statement
Take a holiday apartment owned 60/40 by two siblings. In July it earns 5,000 in bookings, with 600 in cleaning and 250 in other expenses, and the manager charges 20% of booking revenue. The fee is 1,000, leaving 5,000 − 600 − 250 − 1,000 = 3,150 for the owners. The 60% owner's statement shows 3,000 of income, 360 of cleaning, 150 of expenses and 600 of fee, for a payout of 1,890; the 40% owner's shows 2,000, 240, 100 and 400, for 1,260.
Both statements add back to the property total, both show the percentage applied, and neither owner sees the other's payout. Done by hand, the same calculation is four multiplications per line, per owner, per month — and a single wrong cell is enough to make two siblings question the manager rather than the spreadsheet.
Expenses that belong to only one owner
Not every cost is shared. One co-owner may ask for an upgrade the other did not agree to, or pay a cost personally that should be credited to them. Those items should be charged or credited to that owner only, with a description, rather than split by percentage and corrected informally later. Keeping shared and individual items separate is what keeps each owner's statement explainable on its own.
Common questions
How many owners can a single property have?
As many as the ownership actually requires — percentages just need to be defined for each owner and add up correctly for the property.
What happens if an ownership percentage changes partway through the year?
Update it from the effective date forward. Statements already sent under the previous split are not altered retroactively.
Can different properties use different fee formulas?
Yes. The fee formula — a percentage of gross income or of income after expenses — is set per property, not applied uniformly across the whole portfolio.
Does each co-owner get a separate statement?
Yes, each co-owner receives their own statement reflecting only their share, generated from the same underlying property record.
Can an owner see the ownership percentage used to calculate their share?
Yes, it is shown on the statement itself and in their owner portal, so there is nothing to take on faith.
Can an expense be charged to just one co-owner?
Yes. An item can be allocated to a single owner instead of being split by percentage, and it appears with its description on that owner's statement only.
Run your properties on one system.
Bookings, owner statements, and maintenance connected, not stitched together.
Create your account