OwnerRez changed how Hidden Expenses are calculated, and some owner statements will now come out negative

OwnerRez shipped a fix on 4 November that changes how the Hidden Expenses figure is calculated on owner statements. If you built a custom formula in a Statement View that subtracts Hidden Expenses from an in-period amount, your numbers are now wrong on any booking that spans more than one statement. OwnerRez is emailing affected customers with the specific Statement Views to check.

This is a small change with a sharp edge, so it is worth being precise about it.

What changed

Hidden Expenses used to show only the portion of each hidden expense charged on that particular statement. On a partially paid booking that was less than the full expense. So a formula like [Expenses] - [HiddenExpenses] produced a wrong result, which is the bug OwnerRez set out to fix.

Hidden Expenses now shows the full amount, consistent with how the Expenses column already behaved.

Why that breaks working formulas

The classic manager formula looks something like this:

[Gross] * [PercentInPeriod] - [HiddenExpenses]

The first half is prorated by the share of the booking falling in this statement period. The second half is not. Previously that happened to work, because Hidden Expenses was itself already partial. Now it is the full amount, so the full hidden expense gets subtracted on every statement the booking appears on.

A booking split across two statements has its hidden expense deducted twice, in full. Three statements, three times. The later statements come out too low, and OwnerRez says that in some cases they will come out negative.

The fix

Prorate the hidden expenses the same way as the rest of the formula:

[Gross] * [PercentInPeriod] - ([HiddenExpenses] * [PercentInPeriod])

The steps, from OwnerRez: go to PM, then Statement Views, open each view named in your email, find the custom formula column it lists, apply the multiplication, save, then preview an owner statement and confirm the totals look right.

Do the preview. This is arithmetic on money going to somebody else, and a formula edit is exactly the kind of change that looks fine until an owner opens their statement.

What happens to statements already out

Remittance amounts on statements you have already created do not change. New statements built with the old formulas will be affected.

There is one wrinkle that will cause awkward phone calls. Existing statements will display the new Hidden Expenses figure when viewed or exported in OwnerRez, but an owner holding a saved PDF of that same statement still sees the old figure. Same statement, two different numbers, depending on who is looking and where.

If you have owners who archive their PDFs, and long-stay or multi-month bookings in the mix, assume at least one of them will spot the discrepancy. Easier to get ahead of it than to explain it cold.

Who should act

Only managers running custom formula columns in Statement Views that reference [HiddenExpenses]. If your statements use the standard columns, nothing here needs doing and the change is a straight improvement: the Expenses and Hidden Expenses columns now agree with each other on partially paid bookings.

Anyone on OwnerRez's Property Management features with bespoke owner statement maths should check now rather than at month end. The next statement run is when this surfaces, and finding it in a preview is considerably cheaper than finding it in an owner's inbox.