Adding a New Portfolio

1. Click "Sign In"

2. Click "More actions"

3. Click "Add new record"

4. Click "Portfolio"

5. Select the Landlord who you are creating the Portfolio for.

The first screen will show a list of your Landlords with the number of properties they own and the number of Portfolios they own. Select the Landlord you are creating the Portfolio for and click Save.

Once a property is part of a portfolio, it can only be removed if there have been no financial transactions against it.

6. Click "Save"

7. Click the "Name" field and name the Portfolio, give it a description and set the Portfolio agreement name.
Click here.

8. If all properties in the portfolio will have the same level of management and fees, you can set them here. Ensure you also set the management level in the property record.

N.B. The Management Fee and Letting Fee is now set to the Portfolio level. If a property requires a different level of fees, it should not be added to the portfolio.

9. Click "Properties"

10. In the Properties tab, scroll down to the ‘Available’ section and click on the + icon next to the Property to add it to the portfolio. It will then appear in the ‘Selected’ section.

11. Click here to select the Properties. Not all Properties owned by the Landlord need to be in the Portfolio..
Click here.

12. Click "Payment"

Alert: Alert! Payments
In the Payment tab, if the same payment details are being used for the entire portfolio, you can set them here.
Payments can then only be made from the portfolio ledger/portfolio float ledger balances rather than from individual property/float ledger balances.

When a portfolio is created, it is vital that the accounts team are informed as once a property is part of a portfolio, when in the accounts module, you should view transactions in the portfolio ledger and NOT the individual property ledgers.

13. Click here to edit the payment details for the landlords and the payment split between multiple landlords, the payment split must add up to 100%. N.B. If there are 3 landlords, one must get 33.34% to keep the total payment at 100%
Click this text field.
Click "Save"

14. Click "Payment Information" here you can set information for the float, in a Portfolio the float can be used to pay expenses created against any of the properties within the portfolio.

15. Click "Statement" to set an address for postal statements

16. Expenses

Expenses will be charged against the portfolio rather than individual properties.

Performing Payments

When performing payments, the accounts team should remember to also change the record type to 'Portfolio' to show the payments available to portfolio landlords.

Statements

Similarly, when performing a statement merge, they will need to remember to also select the Portfolio Statement option in the filter (and email template if different).