In Alto, you're able to add additional landlords to a property.
Warning
The ownership of a property cannot be changed if there are open transactions against it, therefore any changes must be made before opening balances are added
Note
If you are adding a new landlord to the ownership of a property record, you must first ensure that the contact record for the landlord has been set up in Alto
For more information on Adding a landlord, click here
To add an additional landlord(s) to a property record:
- Click Properties on the main toolbar
-
Select the relevant property from Recent & Favourite Properties
- Alternatively, find the property using the Search Properties bar in the top right
- Click Property on the side menu
- In the Market & Ownership section, the current associated Owner(s) will be displayed. Click the + symbol and in the Search for Contact search bar, find and click the relevant landlord
- To the right of the Owner(s), using the dropdown menu, you can select how the landlord will receive any generated letters
- Direct - A separate letter will be produced for the landlord/Owner(s). The first landlord/Owner(s) in the list must always be Direct
- CC - The landlord/Owner(s) will be copied into the generated letter
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None - The landlord/Owner(s) will not be included in any generated letters
- When you have added all the additional landlord/Owner(s) to the property, you need to enter the apportioned property ownership % Share. This must equal 100% across all landlords on the property (Ownership share can't be 0%)
- Click Save
Each landlord will receive their own individual statement, each showing their own apportioned income and expenditure. They will also receive an individual payment based on their % Share of the property.