If you have inherited a rental property in another country, or if you are just looking to expand your portfolio in foreign lands, managing a rental from a long distance can now be handled in one place.
Rental accounting has been made easier with TenantCloud for those managing properties in different states or cities. When you create a new property and edit the information, you simply choose the currency. For example, you live in the USA, but you still rent out a house in the UK. In this case, you can set your TC account in dollar and still allow your tenants to pay in pounds. It’s much easier to accept all payments in the local currency rather than converting it to US dollar. Additionally, you don’t need to be exclusive to any two currencies, so every property you set up can handle a separate currency. But the accounting will still be maintained in the currency setting of the main account.
Please note, the property currency can be set only once. You can’t change it back. But if you want to change the currency of your whole profile, you can perform this action in your settings. Here’s a link to our Help Center with the step-by-step instructions: