How to process a landlord change

This guidance will show you how to update the landlord of a property.

1. The landlord will need to be set up as a contact before being added to a property. 
2. Under Properties, open the property that requires the landlord to be updated.
   
   
   
3. On the GENERAL tab, under OWNERSHIP & CONTACTS. Click the ‘X’ next to the information currently in both the ‘Legal Owner’ and ‘Owner Contact’ fields.
4. Using the magnifying glass, first search for the ‘Legal Owner’ account.
5. Next, in the field ‘Owner Contact’ the associated contact person for the previously entered account will show.
   Note: You MUST enter the ‘Legal Owner’ account field FIRST, this will enable the associated primary contact to show as an option when you click the magnifying glass in the ‘Owner Contact’ field.
   
   
   
6. Save the page.
7. The previous owner and the date changed will show as a record below:
   

How to add lease details

This guidance will show you how to update the lease details on a property due to a new landlord. For more information on how to update the landlord of a property. 

Note: You must only change the Landlord in the system from the day you want the new agreement and rent payments to start.

1. Under Properties, open the property that has had a new landlord added.
   
   
   
2. Go to AGREEMENTS.
   
   
   
3. In the table LANDLORD AGREEMENTS, on the date of the change, the current lease will be updated as ‘superseeded’, and a new lease will be created with the new landlord.
   
   
   
4. Double-click to open the new lease detail.
5. Complete or change any information required.
   
   
   
6. Save at the top of the page.
7. Due to the new landlord, the finance team needs to be notified so they can update the bank details. see here, how to send the new lease detail record to finance.
8. Save and close the record.
9. Once approved by Finance, the new lease details should now show in the table and be current and approved.