Payments FAQs for property management companies in the US and Canada

Updated 9 months ago | 5 min read time
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In this article, you’ll find answers to the most frequently asked questions from property management  companies in the US and Canada regarding payments.

Stripe FAQs

  • Stripe is a payment service provider for businesses. It allows for secure and efficient payment processing when a guest pays online for a reservation made on our platform.

  • We work with Stripe to collect guest payments on our platform. To use Stripe, you must first have a legal entity-level ID and you must have completed the Stripe Know Your Partner (KYP) form. Once you're verified, we can make daily payments in bulk for all the properties you'd like us to collect payment for.

  • We’ll release payment to your account after each guest has checked in. Your gross pay is sent to a central bank account, and once the funds are released they can take one to three working days to reach your bank account.

  • If you use a property management system (PMS) or channel manager, you should contact your Connectivity provider and ask them to enable the Reservations API feature called ‘res_extra_info’. This feature indicates whether we facilitate payment on your PMS or channel manager. We recommend enabling this feature before you receive your first reservation.

    You can also check if we facilitate payments for you by clicking on the Reservations tab in the extranet.

  • The Bulk Editing tool allows you to add all the properties you'd like us to facilitate payment for in one go. You can add one, some or all of your properties to Payments by Booking.com. You'll have the opportunity to review and edit the properties you've selected before submitting them.

    You can find this tool in the Group Extranet, but you’ll only be able to use it once you've completed the Stripe KYP process.

  • We'll send daily CSV files of your payout statements to the email address you provided to us in the extranet. We recommend making this email address your preferred point of contact for financial transactions with us.

    You can also view and download the CSV files in the extranet by clicking on Finance and selecting Payout information.

  • Properties located outside the US and Canada and properties with a legal entity ID in a different country. For example a US property with a legal entity ID in Canada will not be eligible under the Canadian legal entity ID. Properties currently enrolled in the Stripe Single Property Owners (SPO) solution aren’t eligible to be added using the Bulk Editing tool in the Group Extranet yet.

  • After you add your first property to Payments by Booking.com, you'll see two new pages under the Finance tab -- Payments Overview and Payments Settings. If you’d like to remove one or more of your properties from Payments by Booking.com:

    1. Log into the extranet
    2. Click Payments Overview or Payments Settings
    3. Click Remove properties, provide your feedback and confirm your changes
  • Since Payments by Booking.com uses Stripe as Payment Processor, the property management company, when enabling Payments by Booking.com, enters into a direct contract with Stripe. The Property Management Company is therefore the Merchant of Record.

  • After completing your KYP, you’ll need to add your properties through the bulk editing tool. You can also turn on the setting to automatically add your eligible properties to Payments by Booking.com on the Payments Settings page. This feature will automatically onboard all eligible properties to Payments by Booking.com as soon as they become open bookable – saving you time as you do not have to return to the Group Extranet to manually add properties go forward.

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