How to Transfer an Owner Held Deposit to Management Held Deposit

This article will give you a guide on how to record in Rentvine the proper way to transfer a Owner Held Deposit back to Management Held

The Owner will need to first contribute the Security Deposit amount back to the Property Management company. The owner can contribute these funds through their owner portal directly.

Ensure the funds are transferred to the correct bank account. If the owner contributes funds online through Rentvine, it may have gone directly to the Trust Account. This means you will need to record a Bank Transfer from the Trust to Escrow to correct this

If the Owner decides to pay outside of Rentvine, you will need to record the owner contribution manually.
- To do this Click the rocket ship on the top right
- Click Record Owner Receipt
- Enter the Owner Contribution details
Next you will want to navigate to the lease that has the Owner Held Security Deposit

If you are looking to confirm that the Owner Held is properly recorded, you can view this on the Portfolio Ledger

For steps on how to record the Owner Held Deposit please review this article for a step-by-step, How to Record an Owner Held Deposit

On the lease, create a new Security Deposit charge using the normal Security Deposit Chart of Account. Ensure the charge amount is the same as the Owner Held Deposit previously recorded.

The lease should now have an unpaid Security Deposit charge
Next, you will want to Click the Green 'Actions' button and select Release Deposit
On the Release Deposit screen, enter in the full amount of the deposit for both the Amount and Release Amount. Also, enter in a brief Description of the Deposit Release.
Scroll down on the same screen and you will be allowed to allocate the Released Deposit to any unpaid charges, in this case, you will want to apply this to the newly created Security Deposit charge.
This will now show that the owner-held deposit is now management-held on the lease and the Owner Portfolio balance.