Adding additional landlords to a property

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:

  1. Click Property on the main toolbar
  2. Select the relevant property from Recent & Favourite Properties
    1.  Alternatively, find the property using the Search Properties bar in the top right
  3. Click Property on the side menu
  4. 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
  5. 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
    • None - The landlord/Owner(s) will not be included in any generated letters
  6. 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%)
  7. 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.

Related articles: 

Initial settings on a landlord

Removing or changing the owner of a property

Was this article helpful?
0 out of 0 found this helpful