From time to time, it can happen that a property changes ownership. For this, we have created the following article to assist you. It is important to note that prior to changing an owner, you need to advise your tenants who use Direct Banking of this change, as they will need to change the payee.
STEP 1: Navigate to ADMINISTRATION → FINANCIAL → ACCOUNTING → PROPERTY OWNERS and select the owner you need to change.
STEP 2: Navigate to the PROPERTIES tab and select the building that has changed ownership.
STEP 3: Select EDIT
STEP 4: Use the drop-down menu to select the new owner of the building from the existing list of owners. (If this is a brand new owner, see Adding Property Owners and Assigning Properties to set up a new owner so they appear in this drop-down list.) Select the new owner and click OK.
STEP 5: Change the Effective date and click Save.
Once these steps are followed this task is now complete
NEXT STEPS: Once you have changed ownership, there are additional steps that will need to be followed:
Add/Change the Landlord (If Required) – Adding Landlord Information
Add Bank Account & GL – Adding Bank Accounts
Link Bank Account to Building – Article 360025291113