For a smooth transition, the WP Residence Help Center recommends backing up your site and using the Envato Market Plugin for automated, secure updates. Update WPResidence Theme & Included Plugins
Log in to your ThemeForest account and go to your Downloads page. Download the "All files & documentation" package. Unzip it, and you will find the installable theme file named wpresidence.zip . wp-residence-v5.0.8.zip
Navigate to Settings > Permalinks and click save to avoid 404 errors on new property pages. For a smooth transition, the WP Residence Help