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Are you in the process of moving a property from one portfolio to another within your Rentvine account?
Rentvine makes the property transfer process simple and seamless. This feature allows you to transfer important lease-related balances and determine whether open financial items should remain with the current portfolio or transfer to the new one.
During the transfer process, you can move:
- Unallocated lease charges
- Tenant credits
- Tenant payments
- Security deposits
You can also decide whether unfinished work orders and unpaid bills tied to the property should transfer to the new portfolio and become financially associated with the new owner.
Property Transfer Process
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To begin:
- Navigate to the property you would like to transfer
- Select Change Portfolio
- This will take you to the Portfolio Transfer screen.
On the Portfolio Transfer screen, you will:
- Select the new portfolio
- Enter the effective transfer date
This date represents when the property officially moved to the new owner or portfolio.
The screen will also display all transactions and items that will transfer once the process is completed.
The following lease-related items transfer automatically during the portfolio transfer:- Unallocated Lease Credits
- Unallocated Lease Payments
- Unpaid Lease Charges
- Lease Security Deposits
In addition to lease balances, you can also choose whether certain property-level items should transfer to the new portfolio.
These include: - Unpaid Bills tied to the property
- Work Order that have not been closed
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This gives you flexibility in determining whether these items should remain financially tied to the previous owner or transfer to the new portfolio owner.
If a lease currently has a tenant prepayment and you want those funds to remain with the current portfolio owner, you will first need to allocate those funds to a lease charge before completing the transfer.
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If the funds remain unallocated, they will transfer to the new portfolio during this process.
- Once you review and select everything that is going to be transferred, you will need to confirm the action by selecting the Acknowledgement Agreement
This will enable the Change Portfolio button and allow you to begin the transfer.
Important: Once the transfer process begins, please do not leave or refresh the screen.
Depending on the amount of:
- Transactions
- Work Orders
- Bills
being transferred, the process may take a few moments to complete.
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Once completed:
- The property will now appear under the new portfolio
- A new section called Past Portfolios will appear on the property
This section allows you to keep track of previous portfolio ownership history associated with the property.
