One portfolio. Several owners.
Few portfolios belong to one person. Here's how to set up shared ownership, give the right people access, and make sure everyone works from the same records while seeing their own share.
Three kinds of people around a portfolio
A spouse, sibling, parent or business partner who owns part of the portfolio. Each has an ownership share.
People who help run it but own none of it: a spouse who manages things, an accountant, a managing agent.
A co-owner who doesn't use the app. Their share simply isn't recorded, so shares don't have to add up to 100%.
A share for the portfolio, and exceptions by property
Each owner has a portfolio share. Where a property is owned differently, set a different share for that property. Everything else keeps the portfolio share.
| Property | Your share |
|---|---|
| 14 Elm Road Owned with your spouse · uses the portfolio share | 50% |
| Flat 3, Mill House Owned solely by you · property share set | 100% |
| 4 Birkheads Owned with a family member · property share set | 80% |
| Whole-portfolio costs Accountancy, portfolio insurance · always the portfolio share | 50% |
Every transaction, split by the right share
Income and costs for a property use that property's share. Costs for the whole portfolio always use the portfolio share. Using the shares above:
| Transaction | Full amount | Share | Your figure |
|---|---|---|---|
| Rent · 14 Elm Road | £1,200.00 | 50% | £600.00 |
| Rent · Flat 3 | £900.00 | 100% | £900.00 |
| Boiler repair · 4 Birkheads | −£500.00 | 80% | −£400.00 |
| Accountancy · whole portfolio | −£600.00 | 50% | −£300.00 |
| Your profit for the month | £800.00 |
Your records hold the full amounts. Your share is worked out when figures are produced, so everyone works from one set of transactions. Mark whole-portfolio costs as portfolio-wide, so they're shared using the portfolio share rather than left unassigned.
Let people help, without giving them a share
A 0% share means full access, no ownership. They can see and work with the portfolio, from properties and tasks to transactions, but none of the figures are theirs.
Good for a managing spouse, an accountant or an agent. The person doing the work can do it in the same place as the owners, with nothing passed around by email.
Several portfolios, one login. An agent or family member who looks after several portfolios switches between them, and each portfolio's records stay separate.
Same records, different reports
Each owner's export shows their own share of the income and expenses for every property, ready for their own quarterly update.
When direct submission arrives, each co-owner connects their own HMRC account and sends their own updates.
Check which split you're taxed on
HMRC normally treats income from property held jointly by a married couple or civil partners as split 50/50, whatever the ownership. If you actually own it in different shares, you can choose to be taxed on your real shares by making a declaration to HMRC, known as a Form 17.
Whichever applies to you, set your shares in RentalForce to match the split you're taxed on. Your accountant can confirm which that is.
Setting up a shared portfolio
- Agree the shares. Use your title deeds, any declaration of trust and, for couples, the split you're taxed on.
- Set each owner's portfolio share. The share that applies to most of the portfolio.
- Set property shares where ownership differs. Only where a property is owned differently from the rest.
- Add helpers at 0%. Managing spouse, accountant, agent.
- Mark whole-portfolio costs as portfolio-wide. So they're shared by the portfolio share.
- Review when ownership changes. Shares apply to every transaction in the portfolio, including past ones. If ownership changes part-way through a year, speak to your accountant and to us before updating them.
One set of records. Everyone's share, worked out.
Co-owners at half price on paid plans, and helpers with no share join free.
- Property held jointly by married couples or civil partners: the two main rules (HMRC manual, GOV.UK)
- Work out your qualifying income for Making Tax Digital for Income Tax (GOV.UK)
This guide explains how RentalForce handles shared ownership. It is not tax or legal advice. For advice on how your property is owned or taxed, speak to an accountant, tax adviser or solicitor.