Summary: This article will provide step by step instructions to process an ownership transfer in the Vantaca system.
- Process a property/ownership transfer using the Ownership Transfer Action Item.
Before you begin, be sure to scan or upload the new owner information package and any other relevant closing information to your computer or a file storage location that you can access. To find the property that you would like to transfer, begin by hovering your cursor over the Homeowner drop down menu and select the Homeowner List screen. Select the correct Association by clicking the link at the top of the screen:
Search for the Property or Homeowner name and then select that Owner. From here, create an Action Item by clicking on the New Action Item button. An Action Item pop up box will appear. In the Action Type drop down menu select the Action Type of Ownership Transfer. Add any other relevant or helpful information in the Description field and then click on the Attachments drop down menu. Here you will click on the Select Files button to upload the scanned documents related to this transfer. Click the Update and Select button to create the Ownership Transfer action item and continue processing the transfer.
The new Action Item you have created will appear on the Action Items page. Click the Refresh button (on the bottom right of the page) if the new Action Item doesn't appear immediately. Select the Ownership Transfer Action Item you just created by clicking on the menu icon on the right hand side of the screen and click the Select button.
Open up the left side panel, the Action Center, by clicking on the arrow on the left side of the screen and click the Transfer button.
Select the appropriate Settlement Date and then click the Select New Owner button.
If the Homeowner already owns a property under your management, you can search for that Owner. If not, click the + New Homeowner button, add the Homeowner name and available contact info, then click the Update button.
Now, you can select the new Homeowner from your Search screen. If you need to establish a new owner record, click the New Homeowner button and complete the applicable fields.
After your new Homeowner has been assigned, select the Coupon Start Date and then click the Prorate button. If there are special billing amounts associated with Charge tags, you will click the box to apply those special charge amounts to the new owner.
*Please note that the Coupon Start date is not a required field, but that you MUST click the Prorate button in order for the ownership transfer to be processed correctly, even if you do not wish to prorate the charges on the previous and new owner accounts.
After clicking Prorate, be sure to scroll down to the grid below and confirm that the charges and adjustments for the new owner and previous owner accounts are accurate. If you need to remove prorations, simply locate the amounts that were auto-calculated to be prorated and replace those amounts with "0." If you need to make additional adjustments, you can easily add charges or remove charges from the previous owner account through the grid below.
Click the Update button to process the ownership transfer and you will be returned to the previous owner’s account.
From here, you can perform several additional tasks. For example, you can copy any open action items (such as work orders or Violation notices) from the previous owner's account to the new owner account but utilizing the Copy Action Items feature.
To add a forwarding address to the previous owner, click on the address link under the Mailing heading, then click the + New Contact button. In the popup window, change the Contact Type to Address, fill in the details and click the Update button. Lastly, click the Change Mailing Address button and select the new address.
To get to the new Homeowner account, click on the Owner Name in the Action Center at the left side of the screen.