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
- Click the pencil next to the Room/Property name
- Select Area tab
- Double click Room/Property name
- Select Owner Accounting
- Select Owners
- Click Add button
- On the 'New Contract for Area' page, select the Owner tab
- Click the Add button
- 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.
- Click Save/Next
- Add the second Owner for this Property
- Update the Share percentage as required e.g. 50 % - This will automatically update Owner 1 with the remaining 50%
- Click Save/Exit
- Click Save/Exit on the 'New Contract for Area' page
- Click Save/Exit on the 'Edit Area' page
- 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.