Split payments

If you are managing a tenanted property that has more than one owner, you can setup split payments and choose what percentage of the rent each owner should receive.

To setup the percentage payment that each owner should receive, head to the ownership page of the property. This can be accessed from the property page by clicking the 'owner' section.

You're looking for the page that says 'Owners' at the top left and has a list of owners.

On the ownership page, scroll down and on the right hand side you will see a section called 'split payments' which you can toggle on or off.

If split payments is toggled off, the full payment will go to the primary owner only. If you need to switch the primary owner, click the start icon next to that person at the top of the page.

If split payments is toggled on, you will see the percentage split that is set and can click 'edit percentage split' to amend this.

If you are editing the percentage split, you will see a page to enter the percentage in number format. There is also a 'set to equal split' button to set it equally automatically.

When adjusting split payments on the ownership page, a log is stored in the activity stream to record who made the changes and what those changes were.

If split payments is enabled, individual payments are created on the payments to make stage, which will need to be paid individually. Additionally, each owner will also receive a copy of the statement.

If you add a new owner to an existing property that already has split payments setup, that owner's split percentage will default to 0% and you should manually update the percentage splits as outlined above.

It is not possible to remove an owner that has an active percentage split payment setup and if you do try this, you will see an error message.

If you need to remove an owner from the property, please ensure you have set their percentage split to 0% first.