STEP 5. Attach an Owner to a Property in RMS

After saving the Area, some additional tabs will appear on the Edit Area page. The next step is to attach an Owner to the Property.

IMPORTANT: If you have not created the Owner for this property, you will need to do this first before proceeding with the below steps.

1. Select the Owner Accounting tab 
2. Ensure Print Statements is ticked (if not ticked, Owners will not receive their EOM Statements)
3. Click the Add button 

• After clicking Add, an Owner - Change of Ownership pop-up will appear
• Click Ok

1. On the 'New Contract for Area' page, under the Contract tab, select the Owner in the Primary Owner section. The Banking field should pre-fill automatically once the Owner is selected. If the Banking field does not pre-fill automatically you must click on the arrow and select the banking details manually.
   
   NOTE: You cannot create a new Owner from the Contract page. If you haven't created the Owner first, you will need to exit out and then return back once the Owner is created. To create a new Owner click here. 
   
   NOTE: You can have up to 5 x different Owners share in one management. To find out how to create a shared ownership click here.
   
   
   
   
2. Ensure the From Date of the contract is correct. Any bookings that depart before this date will not be included in the owner's first disbursement
3. The To Date will automatically set for 100 years in advance
4. Click Save/Exit on the 'New Contract for Area' page
5. Click Save/Exit on the 'Edit Area' page
6. Click Save/Exit on the 'Edit Room Type' page
7. Log out and log back into RMS. You must do this prior to the next step

Once the above steps are completed, you can now create the End of Month Expenses for the new Property. Go to Step 6. Create End of Month Expenses in RMS