A portfolio cannot be split if financial transactions have been processed on the central ledger as these transactions cannot be unwound.
If a portfolio needs to be split, each property within the portfolio will need to be copied and the original linked properties set to past. Please find below guidance on how to achieve this.
Note: The below steps should be completed for each property within the portfolio.
1. Copying the property(s)
Go to Lettings properties > View Properties
Locate the property in question
In the Action column, expand the dropdown and select Copy Property Details
The new property record will now show with (COPY of) in the address
2. Linking the landlord to the new property
Go to Lettings properties > View Properties
Locate the new property record - this will be showing with (COPY of) in the address
In the Action column, expand the dropdown and select Link to landlord
Populate the form as required
Click Submit
3. Copying the tenants to the new property
Go to Tenants > View Tenants
Locate the tenant, and click the edit pencil icon against them
Scroll to the bottom and click Copy
A new screen will appear where the copied tenant can be linked to the copied property
Fill out the form and then click Submit
4. Ending the tenancy on the old property
Go to Tenants > End Tenancy and end the tenancy against the old property record. For further information on the end tenancy process, please click here.
5. Continue the new tenancy for the new property
Go to Tenants > Create Tenancy and complete this process for the new property. For further information on the create tenancy process, please click here.
Note: Please ensure that the initial month's rent is pro-rated where required
Further Information
Once the final rent has been paid out through the original portfolio and there are no longer any funds for or further works required on the old properties, the original property records can be set to past which will archive the old records.
If you require any assistance in completing the above process, please contact our Support Team.