Reading the Operator Income report (calendar, windows, earned)
Your income = management fees + fee income kept; gross rent passes to owners. Three lenses: calendar months (cash), payout windows (matches /payouts), and earned (accrual) — each answers a different question.
This is the report about your business, not your owners': what the operation earned in a period.
What counts as your income
- Management fees — collected rent × each property's fee rate (via the fee cascade).
- Fee income you keep — cleaning, admin, application, pet, late fees.
- Not gross rent — that passes to owners. And never deposits.
The three lenses
- Calendar months (cash) — money bucketed by the month it arrived. Best for "how did June go?"
- Payout windows — the same money bucketed by your payout cycles, matching what you see on /payouts run by run. Best for reconciling against owner payouts; windows explained here.
- Earned (accrual) — rent recognized as it's earned (nightly rate × nights in the month) regardless of when cash arrived. The steady "what did the portfolio produce" line — collected cash swings with timing; earned doesn't. Earned view drops the cash-only lines (paid-to-owners, cash margin), since they don't mean anything on an accrual basis.
A month can honestly differ across lenses — a big prepayment inflates its arrival month's cash while spreading across earned months. Neither is wrong; they answer different questions.
Two lines people misread
- Paid to owners reads from actual recorded disbursements, bucketed by calendar month — the batch you paid May 11 shows under May.
- Cash margin is income minus payouts in the period — that's liquidity, not profit. Payout timing (you collect all month, pay owners once) makes partial periods swing hard; judge margin on YTD or trailing-12, not a half-finished month.
The report's "How to read" callout restates these next to the numbers.
Related guides
Reports: what's available and how to run them
Cash-basis reports for operating and tax questions: Operator Income, Owner Income Statements, Revenue by Property, Tenant Ledger, Maintenance & Expenses, and 1099 worksheets — all exportable to CSV and branded PDF.
When do owners get paid? Payout windows and cadence
Your company payout day defines the collection window each run pays out. Day 10 means the June run pays rent collected May 10 → June 10; set day 1 to pay the prior month in arrears.
Management fees and owner deductions: where the percentages come from
Fee resolution cascades: booking override → per-owner property agreement → company default. Multifamily units inherit the building's owner links, and standing deductions post once per scheduled run.