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PMv2 Upgrade Required by Feb 28
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Hey [first name]!
PMv2, our major upgrade to the Property Management (PM) system inside OwnerRez, is available for your account, and we recommend you upgrade now.
Since you’re currently using PMv1, this update directly affects you, and we want to make sure you have the information, resources, and time you need to transition smoothly. All PMv1 users must upgrade to PMv2 by February 28th. Note that the upgrade takes a bit of time, and statements cannot be issued while it's running, so don't start the upgrade process right before you intend to run statements. We recommend upgrading before your January statements so that all of your 2026 statements are generated on PMv2.
The vast majority of users on PMv1 have already upgraded seamlessly, so we're reaching out to those who haven't yet to let you know it's available. If you do not manually upgrade by February 28th, your PMv1 will automatically be upgraded to PMv2 that day.
We sent a notice to all PMv1 users a few weeks back, but in case you missed it, here are the highlights of the improvements we've made with the release of PMv2. If you're more of a visual learner, take a look at our Webinar Replay: PMv2: What’s New, What’s Improved & What’s Coming Next.
What’s New in PMv2
PMv2 was built on a new statement and remittance foundation that fixes long-standing limitations of the old PM system and unlocks more powerful tools, including:
Accurate expense tracking for Commission, Taxes, and Damage Protection
Simply put, “everything is an expense” now. OwnerRez now tracks commissions, taxes, damage protection, and other expenses as real expense records against the owner, giving you clean Profit & Loss reporting and consistent historical data.
Income statement (or “P&L”) for year-end owner reporting
Speaking of reporting, at long last, PMv2 introduces year-end reporting, which many users have requested. This new year-end reporting shows a summary of owner income and expenses, pivoted and grouped however you want (eg, by month, year, owner, or property). See pics below.
Monthly Income Statement:
Property Income Statement:
Owner Income Statement:
Fully customizable Statement Views
The new Custom Formula Builder lets you create your own payout logic with Excel-style formulas. No more rigid or confusing “Net for Commission” columns; you control how your statements work.
Better fee & expense controls
Transaction fees and channel fees can now be configured independently from each other, helping you customize those expenses exactly the way you need to.
Cleaner Proration & Historical Corrections
PMv2 includes corrected rounding rules, more accurate partial-payment handling, and automatic adjustments for older bookings to ensure your payouts stay consistent.
Clear, intuitive remittance totals
PMv2 significantly clarifies the remittance totals between the booking and statement. In the legacy system, the booking > PM tab displayed a clutter of numbers that required a math professor to decipher! PMv2 overhauls this with an easy-to-follow remittance table, showing how the income and expenses are split between the owner and PM. And owner statements follow suit - the top booking remittance area of statements aligns exactly with what each booking shows individually.
A future-proof PM foundation with quicker updates
PMv2 sets the stage for upcoming enhancements that weren’t possible under the legacy system. With this foundation in place, we have many highly requested PM updates already being worked on that are now possible to release.
Ready to upgrade?
Inside your OwnerRez account, click PM on the sidebar, then at the top, you will see "Pending Upgrade," and if you click "Read about it now," you will be taken to the upgrade page.
As always, if you have any questions, feel free to reply to this email or write to help@ownerrez.com. Thanks for being part of the OwnerRez community!
-The OwnerRez Team
PS. Feeling rushed? Don't want to upgrade yet? Tell us why.