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How do I show that a property is owned by more than one Landlord?

Zenya Allen
Zenya Allen
  • Updated

If a property is owned by more than one Landlord or they are registered as living overseas, they can be set up as Shared Ownership. This will enable you to:

  • Add joint Landlords who are overseas for HMRC reporting, even if they have an NRL approval number
    For more information on How do I show that a Landlord lives overseas, click here
  • Provide each Landlords account details, if they each have a different bank account
  • Split the income and expenditure by a percentage for each Landlord Payment
  • Add a maximum of ten owners, sharing ownership of one property

This article includes: 

Add the Landlord Information

First, you will need to add a new Landlord Information record for each owner.
For more information on How do I add a new Landlord, click here

  1. Add the first Landlord 
    1. Click Yes to add a new property, unless you have it already added. In this case, select the property you want to add to this Landlord
  2. Add the second Landlord
    1. Click No to add a new property
  3. Add the third, or next Landlord, if required
  4. Repeat step 2 until all Landlords, who are sharing the ownership of one property, have been added

Share ownership with the property

  1. Double click Properties from the side menu
  2. Search for the relevant Property using Search Text by Name, Code or Status
    1. Alternatively, find the Property using Additional Options from the dropdown menu
    2. If searching for an archived record in Only Search Listable Records, select No
    3. Or select a Branch if multi branch is set up on your CFPwinMan
  3. Click the Property
    1. Click the Ownership tab
    2. Tick the Shared Ownership box
    3. Click Yes to confirm you wish to create a shared ownership
      1. Landlord Code - Click the ... dots to search for each Landlord to which this property is shared 
      2. Percentage of Ownership - Enter the percentage which the Landlord has ownership
        1. Decimal places can be added in the percentage, if there are an odd number of Landlords. We don't recommend having a Landlord with 0% share
      3. Repeat these steps to continue entering more than two Landlords to this shared ownership
      4. Percentage Assigned - Appears red if 100% is not reached
      5. Click the disk icon, Save this record, on the toolbar
      6. Click OK to proceed or Cancel to make changes in relation to the message concerning tax

Related articles: 

How do I pay a Landlord

How do I change ownership of a property