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Adding or Changing an Owner and/or Allocation for a Listing (VRTrust)

Managing Owner Allocations and Records for a Listing

Creating an Owner Allocation Plan for Net Income 📊 - Watch Video

How to Add or Change Ownership on a Listing

You can update ownership on a listing at any time by adding a new ownership period. This ensures income is allocated correctly for owner statements, tax reporting, and 1099s.

Step-by-Step: Update Listing Ownership

Adding Owners

Approach A: From the Owners Section

  1. Navigate to Owners and select Add Owner.

  2. Choose the owner type: Individual or Company/Entity.

  3. Enter the required details, such as email, address, and tax information (if available), and click Save.

  4. To assign the owner to a listing:

    • Open the desired listing.

    • Go to the Ownership tab.

    • Add the owner and set the ownership percentage.

Approach B: From the Contacts Section

  1. Navigate to Contacts and click + Add Contact.

  2. Select the owner type and enter the required details, then click Save.

  3. To assign the owner to a listing:

    • Open the desired listing.

    • Go to the Ownership tab.

    • Click + Add Owner, select the contact, and set the ownership percentage and effective date.

  1. Navigate to Listings
    From the main menu, go to Listings and locate the listing you need to update.

  2. Open the Listing
    Click into the specific listing to access its settings and ownership details.

  3. Add an Upcoming Ownership
    In the Ownership section, add a new upcoming ownership.

    • Adding an upcoming ownership automatically ends the previous ownership and creates a new one starting on the date you choose.

    • Select the effective start date (for example, January 1, 2026).

  4. Assign Owner(s)

    • Choose the new owner for the listing.

    • If the listing has multiple owners, you can add additional owners and assign each a percentage of net income.

    • The system will still produce one owner statement per listing, but income will be allocated internally based on the percentages for reporting and 1099 purposes.

  5. Save Your Changes
    Confirm and save the updated ownership details.

Important Notes About Ownership Changes

  • Mid-Month Ownership Changes If ownership changes during a month (for example, 15 days for one owner and 15 days for another), the system will automatically:

  • Split the income by date, and

  • Generate two separate owner statements for that transition month—one for each owner.

  • Tax and Income Reporting Ownership percentages are used for:

  • Income allocation

  • 1099 reporting This ensures each owner receives the correct share of reported income, even when multiple owners exist.

Deleting or Deactivating Owners

Removing an Owner from a Listing

  1. Navigate to Listings and open the desired listing.

  2. Go to the Ownership tab.

  3. Edit the ownership record and either:

    • Set an end date (recommended), or

    • Remove the record if allowed.

  4. Click Save.

Deactivating or Removing the Owner Contact

  1. Navigate to Owners or Contacts and open the owner record.

  2. Update the status to Inactive or Deactivate, or use Delete/Archive if no linked ownership or transactions exist.

Important Notes:

  • Historical data, such as reservations and statements, is retained for audit purposes. Hard deletion may be blocked if history exists.

  • Removing an owner from a listing does not alter past statements or financial records.

  • A listing must have an active ownership record to appear on owner statements.

  • Owners can be invited to the Owner Portal from their contact record.

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