Changing Ownership of your property

Created by Snorri Valsson, Modified on Tue, 11 Jun at 1:15 PM by Snorri Valsson

If you are selling your property or the company that owns it, there are some steps you need to take to make sure of a smooth transition of services from our side as the software provider as well as ensuring the smooth day-to-day running of the hotel part.

Needed for your Booking Factory account to function:

If you just sold your property and want to transfer the ownership of your subscription to the new owner, please send us an email to hello@bookingfactory.io with the new owner in the copy of the email.

Or if you just took over the ownership, include the previous owner into the copy when contacting us regarding the changes.

We will need both parties confirming the changes. In order to update billing details, please send us the main contact name, email and phone number of the new ownership.

The updated details will be stored and a safe link to update payment method will be sent to the new owner´s email.

Please make sure all outstanding balance is set to 0 so the change of ownership can be done.

Let us know if there is a new team using the system - and whether they need an onboarding training. You can also use our support articles with user information.

The change of log in details can be done by the previous ownership. See here how to edit users. When that is done, let us know what user can be removed (previous ownership). Password and users should be reset for the new management.

Needed for your business to run smoothly following change of ownership:

If the ownership change is for the whole company with a wholesale transfer of everything between two parties, you are unlikely to have to update too much but the most common challenge is to remember to update important 3rd party connections within the system that cannot be controlled from the side of our software. This includes, but is not limited to, the following:

Payment Gateway:
- Make sure the gateway being used is settled on the right account to the correct owner. This may include having to disable the current connection and reset with your own contract number from your gateway provider.
Accounting System Connection:
- Each company has their own accounting setup so it is important to make sure to disconnect if you are not inheriting the accounting system connection from the previous owner. There are several considerations to make if you are changing systems. Please follow up with support to review after switching so that there are no uncomfortable surprises after moving forward.
Revenue Management Service:
- These systems usually run a script via API keys which control your pricing based on actual and expected occupancy and demand. This entails what looks like manual changes to your pricing and if the service is disconnected by the previous owner, you may have these changes "frozen" in your inventory table, . If you do not inherit such a service, it is important to remove any API keys you are not familiar with and reviewing the Inventory table to view any settings with a green background which indicates changes outside the norm. Those changes will remain cemented until removed manually.