How to create a shared ownership in RMS

In RMS, you can have up to 5 x different Owners share in one management.

If you have 2-3 Owners for a Property but 1 x Bank Account, you would only set up 1 x Owner - E.g. John & Jane Banks.

If there are multiple bank accounts for each Owner, then you will need to have 1 x Owner setup per Bank Account. 

Firstly, go ahead and add all owners to RMS - click here for step by step instructions on how to Create a new Owner in RMS

Shared ownership must be setup when you are connecting your Owners to their Property:

Search main menu > Room Type 

1. Click the pencil next to the Room/Property name
2. Select Area tab
3. Double click Room/Property name
4. Select Owner Accounting
5. Select Owners
6. Click Add button

1. On the 'New Contract for Area' page, select the Owner tab
2. Click the Add button
   
   
   
   
3. Add the first Owner for this Property 
   NOTE: You will not be able to change the Share percentage until the second Owner has been added.
   
   
4. Click Save/Next
   
   
   
   
5. Add the second Owner for this Property 
6. Update the Share percentage as required e.g. 50 % - This will automatically update Owner 1 with the remaining 50%
7. Click Save/Exit
   
   
   
   
8. Click Save/Exit on the 'New Contract for Area' page
   
   
   
   
9. Click Save/Exit on the 'Edit Area' page
10. Click Save/Exit on the 'Edit Room Type' page

IMPORTANT: Please ensure you have Logged out and back into RMS before setting up EOM Expenses for a Property.