Duplicating of the owner, Tenant and Property has now changed.
Sometimes a property is sold but you are keeping the management with the new owner. In the instructions below we suggest the best way to handle this.
NOTE: If the property has been sold and you have lost the management, some of the instructions below still need to be followed.
NOTE: These are the instructions for handling this scenario in Palace, you still need to understand how the Residential Tenancies Act handles this process.
Please note the following details that you may need to know before you start this process
Settlement date for the property
Who is getting the rental money i.e know which portion of rent is going to the old owner and what portion to the new owner. The solicitor may do this for you.
Is the Property Manager for the new owner going to be the same as the old owner Who is paying for any outstanding invoices
New Owner details if staying with your company
When is the money due to be paid out to the old owner, settlement date or at end of month as normal?
PDF File Download here
Please see our YouTube clip on "How to change your owner" with our New Wizard
NOTE: Once you have watched the video and put the process into action, You have now created a new owner, property and tenant. You will be able to archive the Owner and Property once you have rolled month end. You may be able to archive the tenant straight away if all funds are cleared.