What happens when I sell my Managed Property?

Modified on Wed, 13 Mar 2024 at 01:08 PM


The below will explain the process you should follow if you sell a property that you currently manage with @realty Rentals.


IMPORTANT: If the below process is not followed, this will likely result in the previous Owner(s) receiving rental income payments instead of the new Owner(s)


Since the relationship you have is with the Owner(s) and not the Property, you will need close off the existing Management Record.


To do this, go into the Property (Property Record, not Listing Record) that you have sold and click on the Managements tab.



Open the Management Record by clicking on the edit (pencil) button. Then change the status from Active to Lost and select the Lost Reason as Sold.



You will then need to create a NEW Management Record against the same Property. This will include the details of the agreement you have with the new Owner(s) and you will need to upload the Management Agreement you have signed with the new Owner(s).


This will send a notification to the Head Office Rentals team and they will update the records in Property Tree.





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