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Ownership percentages change, a share is transferred, a declaration of trust is signed, a partner is added. RentalBux dates the change so figures before it keep the old split and figures after it use the new one.
Before You Start
The date the change takes effect.
The new percentages, totalling 100.
The document behind it, if there is one worth uploading to Documents against the property.
Steps
Open the property. Go to Property → Properties and click the property in the list to open its record.
Open the Ownership tab. Select Ownership from the row of tabs. The current split shows as a donut with each owner and their percentage, check this is the split you're about to replace.
Click Edit. This opens the Manage ownership window (Edit portfolio), showing the portfolio name and the current owners.
Set the "Effective from" date. Enter the date the change actually takes effect the date on the deed of trust, transfer, or election, not the day you happen to be updating the record.
Adjust the owners. Change the existing percentages, click Add owner to bring in a new owner, or use the delete (bin) icon to remove one who has left. An owner who leaves keeps their historic figures, you're only changing the split from the effective date forward.
Check the total reads 100%. The window shows a running Total; RentalBux won't let you save until it reaches 100%.
Click Done to save.
Verify the split. Check one transaction dated before the effective date and one after it, and confirm each splits by the correct percentages. If earlier periods have also re-split, your effective date was set too early, fix the date rather than editing transactions.
Reports for a period spanning the change show both parts. Your quarterly figures follow the same rule income earned before the change is split the old way, income after it the new way.
If Something Goes Wrong
Everything re-split, including last year. The effective date was set too early. Correct the date rather than editing transactions.
The figures do not agree with your accountant’s. Check whether they are apportioning by time or by actual receipts; the two differ when rent arrives irregularly.
Worked Example
A property is owned 50/50 until a declaration of trust takes effect on 6 October, moving it to 75/25. Rent of £1,250.00 a month is split £625.00 each for the first six months and £937.50 / £312.50 for the rest. Each owner’s annual figures reflect both periods, and the quarterly updates either side of October differ accordingly.
Why Dating It Matters
If you simply overwrite the percentages, RentalBux has no way to know the old ones ever applied. Reports for earlier periods change, and they will no longer agree with quarterly updates already submitted. Dating the change keeps history intact and keeps filed figures reconcilable.
Before You Make The Change
Have the document deed of trust, transfer, or whatever evidences it and upload it against the property.
Check the effective date against the document, not against the day you remembered to do it.
Ask UKPA whether an election needs to be made with HMRC, and by when.
Common Questions
Can I have three owners? Yes, as long as the percentages total 100.
An owner leaves entirely. Set the new split from the effective date; the old owner’s history stays.
Upload the document that caused the change and attach it to the property. In two years the percentages will be a fact nobody remembers agreeing, and the document is the answer.