The Change of Owner Wizard streamlines property ownership transitions in Re-Leased's Client/Trust Accounting. It is only available in the Client/Trust Accounting version. The Connected Accounting version requires separate procedures and may need a new company with new properties and tenancies.
Prerequisites
Before using the wizard, confirm all of the following:
No arrears on the property up to the settlement date.
No part-paid invoices on the property.
Only one ledger attached to the property.
Funds are available on the owner's ledger to pay out rent past the settlement date.
The new owner ledger is in the same Client/Trust Account.
If any of these conditions are not met, use the manual Changing the Owner of a Property process instead.
What the Wizard Does
Voids rent invoices post-settlement paid to the previous owner and associated fees.
Raises new invoices payable to the new owner, posts previously received payments, and calculates fees.
For ownership changes mid-rental period, generates a split invoice for that period.
Removes BPAY creditors associated with the property.
Note: If the previous owner has been paid out for rent beyond the settlement date, Re-Leased cannot retroactively change invoices. Adjustments should be handled by the conveyancing solicitor at settlement.
Preparation
Create a ledger for the new owner via Client/Trust Accounts > Owner Ledger Balance > New Owner Ledger. Note the property will not be selectable at this stage.
Ensure the settlement date is not in the future.
Confirm the tenant has paid rent up to or beyond the settlement date.
Ensure all expense invoices are settled if maintenance commission applies.
Important: The wizard does not automatically update Repeating Invoice or Outgoings templates. Adjust these manually for the new owner. If the property is linked to a Re-Leased Pay bank account, update the account details. See Updating Re-Leased Pay Accounts During a Property Ownership Change.
Running the Change of Owner Wizard
Open the property, click Property Details, and select Change Owner.
Enter the new Owner Ledger and Settlement Date.
Configure your preferred options for rent and outgoings transfer and template updates.
Click Save and Continue.
Reviewing and Confirming
On the Update Rent screen, review the summary of changes before confirming. Check:
Settlement Date and Owner Ledger details are correct.
Actions on existing invoices align with the actual settlement.
Existing Rent and Outgoings templates will be updated correctly.
Click Back to edit, or Confirm Change of Ownership to proceed. After confirming, you'll have the option to start a disbursement for the previous owner — this is optional.
