This guide covers the steps required to responsibly close out management of a property in Re-Leased — from finalising accounts and vacating tenants through to archiving the property record.
Step 1: Finalise Accounts and Vacate Tenants
Ensure all banking transactions related to the property and tenants have been processed.
Address outstanding bonds for each tenancy — including refunds from the Client/Trust Account, direct refunds from property owners, or from authority-held or interest-bearing accounts.
Vacate each tenant using the Current Paid to Date to avoid generating unnecessary credit notes. See How to End or Vacate a Lease/Tenancy.
Write off any remaining invoices that won't be collected by issuing credit notes. See Managing Credit Notes.
Step 2: Documentation and Record-Keeping
Document the conclusion of management using Notes, and update Property Details to reflect the management change.
Generate applicable reports for the incoming agent — including a Tenancy Schedule and a Contact List.
Step 3: Final Disbursements and Reports
Issue a final disbursement for the owner or incoming agent, including the Owner Statement. Update bank details under Ledger settings if funds are to be transferred to a new agency.
Create a Financial Summary Report for the owner via Reports > Client/Trust Accounting.
Step 4: Archive the Records
Archive the Tenancy (ensuring a zero balance on the Tenancy Ledger) via Tenancy Details > Archive.
Archive the Tenancy Ledger via Edit Ledger > Archive.
When managing multiple ledgers for the same owner, designate a new default ledger before archiving. Use the Ledger Summary Report to find all owner-related ledgers.
Nullify any unpaid expense invoices before archiving the property.
Archive the Property via Property Details.
Archive any contact records no longer required.
Note: Archived items can be restored if needed via the Restore tabs.
In Asia-Pacific, "Trust Account" is standard; European customers use "Client Account". For more information, see our Glossary of Regional Terminology.