Changing the owner of an object

You may need to link a different owner to an object in the middle of the year or at an unexpected time. This also involves ongoing invoices. How do you handle this?

Add a new owner

The first step is to make sure the new owner is listed correctly in your reservation system. Update the data, or create a new owner.

Link new owner to object

Go to the object in question, and create a new agreement. The starting date of this agreement is the transfer date between the old and new owner. The previous owner's agreement automatically expires on the date the new agreement takes effect.

Finalising invoices of ‘old’ owner

When the property is sold, the annual costs are often already settled at the notary. You must also settle/credit these costs in the PMS. You may also get an error message when adding a new agreement, because the old agreement has invoices that are blocking the change. You will have to process these manually.

Credit the blocking invoices

Open the blocking invoices in a new tab. To credit them, click the ‘Create credit invoice’ button. You are going to send this credit invoice manually. Click ‘Send invoice’ and choose ‘send manually’ instead of by email in the subsequent screen. This means the owner will not be notified.

You will now see in the original periodic invoice that the outstanding amount has been settled with the credit invoice.

Add new agreement

As the blocking invoices are now resolved, you can add the new owner's agreement to the object.

Split periodic costs in new invoices

Some periodic costs that you have just credited, however, still need to be paid. A part (up to the transfer date) still has to be paid by the old owner, and a part (from the transfer date) has to be paid by the new owner.

For the old owner, you create a new periodic invoice by clicking on the three dots behind the correct object in the owner page and choosing ‘Periodic invoice’. Then, click ‘Custom period’ and change the end date to the transfer date. You can also adjust which periodic costs you want to settle in this way. When you're done, click ‘Create invoice’. The invoice is now listed in the owner page as a ‘Draft invoice’, and can be sent.

For the new owner, you create a new periodic invoice in the same way. Except, now you enter the custom period as from the transfer date to the end of the year, or any other date you want to use to send yearly invoices.

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