Correctly Transfer Accommodation Ownership
When managing accommodations, you might need to change the owner (due to a sale or another reason). If you use the Contracts and Settlements features, it's crucial to follow the correct procedure to avoid system blocks or failures. Below is the process in the recommended order:
Steps to Follow
Review the Current Owner's Contract and Modify if Necessary
Go to
VRMS → Accommodations → Short-term Rentals → Property List →Select the Desired Accommodation to open the record.In the "Contract" field, click on "Access Contract."
The current contract record will open; click the "Edit" button.
In the "Contract Duration" field, change the end date to the day the property gets a new owner.
If the "Automatic Renewal" toggle is active, click on it to deactivate.
Save the changes by clicking the "Save" button.
Settle All Pending Items
Go to
VRMS → Owners → Settlements → Accommodations Pending Settlement.In the list, locate the desired accommodation and click on "Settle."
The system will display all pending settlements (a link to "How to Perform a Settlement" can be added here).
Assign the New Owner to the Accommodation Record
Go to
VRMS → Accommodations → Short-term Rentals → Property List →Select the Desired Accommodation to open the record.Click on "Edit."
In the "Owner" field, open the dropdown menu to choose the new owner (if they already exist in the system) or click "New" to register their details.
Click the "Save" button to confirm the changes.
Create a New Contract Linked to the New Owner
Go to
VRMS → Contracts → Contract List.Click on "New."
In the "Owner/Accommodation" field, enter the first few letters of either; the system will suggest various options. Select the correct one.
Continue with the remaining configuration (a link to "How to Create a Contract" can be added here).
Helpful Tip
Do not skip steps or change the order, as the system will prevent creating the new contract while there are pending tasks.
Changing the owner of an accommodation requires method and order: by following these steps, you ensure that contracts are updated, settlements are clear, and information is organized.
This way, your ownership change operation is carried out smoothly, and you can continue managing the service with peace of mind.
Frequently Asked Questions
What happens if I try to create a new contract without settling pending items?
What happens if I try to create a new contract without settling pending items?
The system will not allow it: you must first settle all outstanding settlements.
Can I leave the automatic renewal of the old contract active?
Can I leave the automatic renewal of the old contract active?
No. It is mandatory to deactivate it to prevent renewals under an owner who no longer manages the accommodation.
If the ownership change occurs mid-month with active bookings, what should I do?
If the ownership change occurs mid-month with active bookings, what should I do?
You must formally close the previous owner's contract, settle up to the change date, and from that point, assign the bookings to the new owner.