If you previously managed property funds using multiple owner contacts — for example, one for standard income and a separate one for Operating Expenses — this article explains how to consolidate them using Re-Leased's Multiple Property Ledgers feature.
Step 1 — Review and Adjust Ledger Settings
Identify the Operating Expenses (OPEX) ledger for each affected property:
Open the ledger and review its settings.
Note the Owner Disbursable and Generate Statement settings — these take precedence over Disbursement Profile settings.
Do not change the ledger owner at this stage. Owner contacts will be merged in a later step.
Note: The Used for Owner Fees toggle indicates which ledger should be used for any Owner Fee Rules associated with the property.
Step 2 — Update Disbursement Profiles
Update the disbursement profiles for the main Property Owner contact to include the profiles from the second OPEX owner contact.
Step 3 — Consolidate Fee Rules
Navigate to Client/Trust Accounting Reports and select the Fee Rules Report.
Run the report for both owner contacts, then add any necessary fee rules from the OPEX contact to the main Property Owner contact.
Step 4 — Merge Owner Contacts
Go to the contacts list, select the OPEX owner contact, and choose Merge.
Type the name of the main Property Owner contact and select it from the options that appear.
Tick the confirmation checkbox and click Merge.
Important: Contact details and fee rules will not be directly merged through this function. Review both before merging.
Step 5 — Add the OpEx Ledger to the Property
Add the owner's OpEx ledger to the property's Ledgers tab.
Step 6 — Configure Ledger Default Accounts
Select Edit beside the ledger.
Tick the boxes to the left of each account code to default to this ledger.
Step 7 — Configure Rent and Outgoings Templates
Edit rent and outgoings templates for the property and its tenancies.
Change the Use Default Ledgers setting to Yes.
Save your changes to ensure templates reflect the updated ledger setup.
How Fees Work After Transitioning
When a payment triggers a Fee Rule, Re-Leased identifies the expense code from the rule to determine which ledger will be charged.
If the expense code matches a ledger designated under the property's Ledger settings, that specific ledger is charged.
Note: Consider adding distinct expense codes for Outgoings Management Fees and creating corresponding Fee Rules to get the most out of this feature.
For Asia-Pacific customers, the term "Trust Account" is used. European customers refer to this as "Client Account". Client/Trust Accounting is not available to customers in North America. For more information on regional terminology, see our Glossary of Regional Terminology.