fbpx CASE STUDIES | Trust Accounting for Short Term Holiday and Strata Hotels | BookingTrust
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CASE STUDIES

Client Case Studies

Green Hill Accommodation Management
QLD, Australia

“Through its industry specific integrated cloud based software solution, BookingTrust has streamlined our monthly accounting process’, delivering the business greater efficiencies and scalability.”
Jonathan Kane - Managing Director, Green Hill Accommodation Management

 

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Green Hill Accommodation Management is located on the Sunshine Coast, Queensland, offering end-to-end boutique property management solutions for Airbnb and Holiday rental assets. Their services are comprehensive and Managing Director Jonathan Kane is passionate about transparency and working with ethical suppliers. BookingTrust is happy to share more about Green Hill Accommodation Management.

1)  What inspired you to start Green Hill Accommodation Management?

Coming from a professional background in accommodation, tourism and hospitality I saw an opportunity to bring this broad service driven skillset to the short-term holiday letting sector. I felt that there was a gap in the real estate market for a boutique quality driven solution focussed on Airbnb management, and so Green Hill Accommodation Management was born. We service the Sunshine Coast and Hinterland and are passionate about where we live, what a diverse and fantastic holiday destination it is. The company has a strong sustainability ethos and a focus on supporting local products and service providers, it is this philosophy that flows all the way through to the guest experience.

2) What are the key ways you create transparency for your owners?

By operating a statutory trust account using BookingTrust accounting software, Green Hill Accommodation Management provides its clients with the surety and confidence that funds are held securely while delivering accounting transparency throughout the disbursement process. We also supply clients with an owner portal into our Property Management System that allows access to property details as well as a future bookings calendar. This provides a window into the business and a live forecast of upcoming stays.

3) Why would you recommend using trust accounting software for a short-term rental business?

BookingTrust offers industry specific short-term rental trust accounting software. It is designed for purpose, easy to use and provides the licensee with peace of mind while meeting legal auditing requirements.

BookingTrust is also fully integrated with our property management software and offers a range of API integrations for accommodation based business’.

4) How has working with BookingTrust helped your business? 

BookingTrust has streamlined our trust accounting processes offering greater efficiency and scalability to the business. This allows the team at Green Hill Accommodation Management to spend more time focussing on other deliverables for our guests and clients.

Goodstays
Queenstown, NZ

“BookingTrust helps us keep on top of the financials daily where previously we would have a month end scramble to balance and reconcile transactions.  Short-term rental management is a high transaction business, with a lot of moving parts so the ability to store and audit financials is extremely important for business transparency and business integrity.

Allan Baillie - Goodstays, NZ
Director, General Manager of Business and Operations

Goodstays NZ
Queenstown NZ Goodstays
Goodstays logo

Based in the stunning Queenstown Lakes, New Zealand, Goodstays is a locally owned and operated accommodation business that provides budget to luxury holiday homes and homes for rent. They cater to everyone from solo travelers to large groups, with many options for tailored experiences.

1)  What inspired you to start Goodstays?

After returning from Australia after 8 years in Sydney, we acquired a property management business with just a few holiday houses in it. This was 2009. We had rented houses for holidays on the coast whilst living in Australia and thought it would work well as a product in Queenstown. We separated the few holiday houses in the portfolio and rebranded them Goodstays and embarked on a project to have real time live calendars and bookings with a merchant facility online. 13 years later, we’ve taken $40 million in bookings and serviced 350, 000 guest nights. We’ve been busy!

2) What are the key ways you create transparency for your owners?

From the start we provided notifications of bookings and monthly reports to our owners which we developed internally. As OTA systems developed over the following years our internal reporting became redundant and OTA operating systems and the use of Trust Accounting systems have provided this type of reporting as part of the license.

3) Why would you recommend using trust accounting software for a short-term rental business?

We have always used trust accounting systems and recommend that people do. It adds a layer of transparency for all parties and provides a platform to perform audits. It is a high transaction business with a lot of moving parts so the ability to store and audit financials is extremely important for business transparency and business integrity.

4) How has working with BookingTrust helped your business? 

Prior to using BookingTrust we were using a reservations and trust accounting system that was an all-in-one package and was out of North America. It required a lot of “workarounds” to get our financial data in a format that was compliant with New Zealand accounting and banking systems. Now, using separate systems for reservations and accounting, it has allowed us as a business to put tasks and skill sets of staff in the right place. Aces in spaces so to speak. 

As reservation OTA’s have become more sophisticated and automated, BookingTrust helps us keep on top of the financials daily where previously we would have a month end scramble to balance and reconcile transactions.