Are you looking to transfer ownership of a property from one portfolio to another? The article below provides guidance on how to do so, as well as some recommended practices.
The steps to transfer the ownership of a property from one owner to another may vary based on the specific situation and applicable laws. However, the following are general steps that may be involved in the process:
Prior to proceeding with the next steps, please watch the videos below
- Create a new Portfolio: Create a new portfolio for the new owner of the property if needed.
- Transfer the Ownership to the new portfolio - Navigate to the property details page and select the Change Portfolio button
- Look up the new portfolio and input the start date for the new ownership. Click Save when finished.
After saving, all subsequent accounting transactions created will be associated with the new ownership/portfolio.
- Update accounting records - Rentvine does not automatically transfer any of the previous accounting records or transactions that occurred on the previous portfolio / ownership. Therefore, if necessary, it is important to manually update the accounting records of the property to reflect the change in ownership. This may include creating ledger transfers, recreating unpaid lease charges, transferring prepayments.