From time to time, a property may change ownership. Property Vista allows you to update the ownership information associated with a building.
This guide explains how to change the property owner and update the effective date of the ownership change.
Important: Before changing a property's ownership in Property Vista, notify any tenants who use Direct Banking. These tenants will need to update their payment information and change the payee to reflect the new ownership.
STEP 1. NAVIGATE TO PROPERTY OWNERS
Navigate to Administration → Financial → Accounting → Property Owners.
Select the existing property owner associated with the building you want to update.
STEP 2. SELECT THE PROPERTY
Navigate to the Properties tab and select the building that has changed ownership.
STEP 3. EDIT THE PROPERTY OWNERSHIP
Click Edit to modify the property's ownership information.
STEP 4. SELECT THE NEW PROPERTY OWNER
Use the dropdown menu to select the new owner of the building from the list of existing property owners.
If the new owner has not yet been created in Property Vista, refer to Adding Property Owners and Assigning Properties to set up the new owner first.
Once you have selected the new owner, click OK.
STEP 5. UPDATE THE EFFECTIVE DATE
Update the Effective Date to reflect when the ownership change takes effect.
Once the new owner and effective date have been confirmed, click Save.
The property ownership information has now been updated in Property Vista.
NEXT STEPS: ADDITIONAL CONFIGURATION
Following an ownership change, additional configuration may be required to ensure the building's financial and ownership information is up to date.
Depending on your organization's setup, complete the following steps:
- Add or Update Landlord Information (if required): Adding Landlord Information
- Add the New Owner's Bank Account and GL Information: Adding Bank Accounts
- Link the Bank Account to the Building: Linking a Bank Account to a Building
Review these additional settings to ensure the building's financial configuration reflects the new ownership.