Change of Ownership

The first step is to make sure that there are no bookings that cross over the date the date of sale.  If there is, you will need to split the booking so that the old owner gets their share and the new owner gets their share.

Do not change the ownership until the property is settled.  You cannot future date a change of ownership.  You can only backdate it to the 1st of the current month.

If the owner is not yet set up in RMS please ensure this is done first before continue the below steps.

See steps on how to create a new owner here.

Once your owner has been created please continue on to the following steps: 

• Go to Setup + Room Type/Area or Category/Area in RMS
• Double click to open a Category/Area (property) 
• Navigate to the Area tab
• Double click to open the Area

• Navigate to Owner Accounting
• Select the Owners tab
• Select Add

• The following dialog box appears - click OK

• Enter the Owner Contract Dates 
• Select the Primary Owner from the drop down box
• Select their Banking details from the drop down box

( If there is a Second Owner, proceed to the tab on the left hand side labelled " Owner". From here Select the "+" and complete the details required. )

Ensure the From Date of the contract is correct. Any bookings that depart before this date, will not be included in the owner's disbursement

• The To Date is generally set for 100 years on

• Select Save/Exit

• Select Save/Exit on the area box

• Select Save/Exit on the room type box

• Log out and log back into RMS
  You must do this prior to the next step

• You have now added and attached an owner to the newly created property.
• Please ensure you remember to complete Step 5 - Create EOM Expenses to set your management fees and other contractual fees agreed upon with the owner that will be visible in the owner's statement.

Final Step - view this article to Sync the Owner of a Property in Homhero.