Commercial Bonds are commonly held by the agency in their trust account until the tenancy vacates the premises.

In VaultRE an Ownership/Property needs to be created so Commercial Bonds can be accounted for.

Below is the process of setting this up in preparation for receipting to any commercial bonds that are being held in the trust account.

Step by step

1. Go to Properties > Appraisal Wizard

2. Add Owner details:

Type - Company

Company - Agency name (Commercial Bonds held in trust)

Contact - Agency email address & phone number

3. Add Property details:

Type - Residential

Status - Lease: Not Currently Listed

Property Address - 00 Commercial Bonds - Held in Trust Account, Perth WA 6000 (or local state)

Add Property/Save and Go To Property

4. Change the Status of the Property to Management/Listing

Click on Save/Update at the bottom right of the screen

5. Once saved, you will be prompted to add a General Account and also add a Property Manager. Click on Fix to complete

6. Ensure there are no fees attached to this Property by going to Tenancy/Management > Owner Fees/Charges

7. Go to Tenancy/Management > Ledger and click on Hold Monies

Hold - Hold all Monies

Reason - Commercial Bonds held in trust account

Click on Update

You are now ready to receipt any commercial bonds that you are holding in your trust account