On occasion, a property owner will sell their property or portfolio and the new owners may wish to retain your management services. In other instances, an owner may wish to create an LLC or business entity for their properties. You can easily handle the transfer of ownership within the software.
Transferring Property Ownership
Transferring property ownership only takes a few easy steps outlined below.
In your Rentec Direct account:
- Add a new owner
Information on adding an owner can be found here: Add Owners
- Add a new property and assign the new owner to the new property
Information on adding a property can be found here: Add Properties
- Move the tenant out of the old property
Information on moving a tenant from a property can be found here: Moving Out a Tenant
- Move the same tenant into the new property.
Tip: If you want to retain the tenant's entire ledger history, then you'll want to select 'Use Existing Tenant' option on move-in.
More information on how to move a tenant into a property can be found here: Place a Tenant Into a Property | Move-In
Special Note: You may wish to also migrate any security deposit from one property to another. Once the tenant is moved into the new property, enter the tenant's security deposit ledger for the previous property. Then migrate the funds from the first to the second property.
More information on managing security deposits can be found here: Migrate a Tenant Deposit