Here’s a scenario, when you are starting and creating a property, you have set up the property to “Owner Receive Rent Payment Directly”. What happens in this scenario is that all the rent you log in to the system doesn’t go to your bank account or in your accounting book. The system calculates the management fee based on the rental invoice.
Now, if you are receiving the payment instead of the owner (for the same property), we need to change a flag from the back end. However, all the previous reports will show you invalid data as you are changing the process. This is one of the reasons we do not allow users to change this flag from the portal. No data will get deleted.
If you are okay with this change, we can update it for you from the back end. Please email us to confirm that you allow us to do that.
NOTE: We do not need to change the property managed by type. We need to update the flag from “Owner Receive Rent Payment Directly” to “PM receives the money”, for the property.