Updating a Property Owner

When you need to change who is recorded as the owner of a property, Street will ask you to confirm what kind of change you are making. This is because there are two distinct situations, and each one should be handled differently.

To update an owner, head to the property page and click on the owner details. From the owner card, click the bin icon to replace the owner.

Note - If there are multiple owners, you will need to click the bin on each person to remove them until you have one person remaining. You will then be able to replace the owner.

When you click to replace a person or company on an owner record, a modal will appear with two choices.

Update the owner

The option to update the owner should be used when the person attached to the ownership record is simply wrong - for example, the wrong contact was linked. Selecting this option updates who is attached to the existing ownership record.

Using the update owner option will:

Give the new owner full visibility of all current property information and activity, including any existing valuations and viewings
Update the landlord on an existing tenancy (if there is one)
Give the new owner full visibility of the owner ledger (if you use Street for your client accounting)

Replace the owner

The option to replace the owner should be used when ownership of the property has genuinely changed hands - for example, a the sale of the property happened externally to your Street account, with another agency and needs a fresh ownership record.

Using the replace owner option will:

Create a brand new ownership record for the new owner
Leave all historic data (including valuations, listings, activity logs etc) linked to the previous ownership record
Update and link the existing tenancy to the new ownership record (if there is one)
Create a brand new owner ledger for the new owner (if you use Street for your client accounting)

The new owner starts with a clean slate and cannot see any information from before they took ownership.

However the previous ownership record is not deleted. All data that was created during their ownership - valuations, listings, activity, and correspondence - remains attached to them. Nothing is lost; it is simply no longer visible to the new owner going forward.

Note - The replace owner option will be unavailable if the property currently has an active sales or lettings listing or an active instruction.

You will need to archive any active listings and revoke any active instruction before you can replace the ownership. Street will display a message explaining this if the option is greyed out.

When to Use Each Option

If you are unsure of which option to use, below is a guide to follow but please note, this list is not exhaustive.

Situation	Use
Wrong person was linked to the existing owner	Update the owner
Correcting a data entry mistake	Update the owner
Property has changed hands outside of Street	Replace the owner
The new owner should not see the previous owner's history	Replace the owner

Street is constantly being updated. This can mean that some of these articles become slightly out of date. If you spot something that looks a little bit different to your Street account, please let us know on the live chat so we can get it updated!