Editing Portfolios

To edit a Portfolio in Propertyware:

Click the Properties Tab from any page of the application.

Select a Portfolio you wish to edit from the Property Navigator menu on the left side bar. Use the "View By" Filter to refine the Property Navigator menu by Portfolio. The menu will then refresh to display your Portfolios, each identifiable by name and a yellow portfolio icon within a shaded gray row. Each Portfolio's Buildings and Units will display as submenu items.

Note

Trying to edit your Default Portfolio at your first login? To edit your Default Portfolio after completing the Setup Assistant at your first login, you must first activate your Default Portfolio by creating your first Building within that portfolio. Once activated, you may then edit your Default Portfolio (proceed to Step 4 below).

As an alternative to Step 2, you may search for the desired Portfolio by name using the Search bar located at the top left corner of the page and clicking Go. From your search results, click on the appropriate Portfolio link from within the Properties selection window.
From the Portfolio Summary Page, click the Edit button. You mayedit any of the following field entries from the portfolio's detail page:

PORTFOLIO DETAIL

Field Name

Description

Portfolio Name

Enter the Portfolio owner's name. Each Portfolio must be named after a property owner, and if co-owned, the Portfolio may be named after its various owners by hyphenating each name. I.e., if you manage properties owned by Donald Trump, name the Portfolio "Donald Trump." If you manage properties co-owned by Donald Trump and Lee Ioacca, name the Portfolio "Trump-Ioacca." Up to 50 characters are allowed in this field.

Portfolio Abbreviation

Enter an abbreviation to the Portfolio Name. The application will automatically generate an abbreviation, taking the first 10 characters of the Portfolio Name, which you may override. Up to 10 characters are allowed in this field.

Default Bank Account

From the drop down menu, select the appropriate bank account where income is to be deposited for the Portfolio.

Default Security Deposit Bank Account

From the drop down menu, select the appropriate bank account where collected security deposits are to be transferred. This field should be set to the same Default Bank Account in the field above, unless applicable laws and ordinances require you to maintain your collected security deposits within a separate bank account. By setting a separate Default Security Deposit Bank Account, Propertyware will:

Transfer security deposits which may have been collected within your Default Bank Account (i.e., tenant security deposit and first month's rent was covered by a single check) to your Default Security Deposit Bank Account, once your tenant payments have transferred to QuickBooks.
Upon performing a move-out calculation, create a security deposit refund to the vacating tenant from the Security Deposit Bank Account, where applicable.

Accounting Close Date

Enter a date as of when the accounting period for the portfolio shall close. No income or expense transactions may be recorded or modified if dated on or before the Accounting Close Date. *Only your Administrator is able to set, view or modify an Accounting Close Date.

Maintenance Settings

Set a Maintenance Spending Limit on the Portfolio, either monthly or yearly, for maintenance bills created by work orders. Toggle the drop down menu to either "no limit," "monthly limit," or "yearly limit." If you select a monthly or yearly limit, then enter a spending limit amount within the pop-up window.

Management Settings

Charge Management Fee: Select No if you will not be charging a management fee to the owners of the properties in this portfolio. Otherwise, select Yes to display the fields below for completion.

Complete the following fields if you charge a management fee
Management Contract Start	Beginning date of agreement between the property manager and the property owner.
Management Contract End	Ending date of agreement between the property manager and the property owner.
Target Operating Reserve	Enter a reserve amount in allocated funds for miscellaneous expenses (i.e., unexpected maintenance bills for buildings and units within the Portfolio).
Fee Type	There are two options for setting your management fee: Greater of Flat Fee or Percentage. This rule lets you designate a flat management fee for the entire portfolio and have it compared to the percentages calculated from the Commission Accounts as defined below. The greater of the two will become the amount on the management fee bill. Flat Fee Plus Percentage. This option lets you designate a flat management base fee for the entire portfolio and have it added to the percentages calculated from the Commission Accounts as defined below.
Flat Fee	(Optional) Enter the flat fee amount for the management fee calculation.
Commission Accounts	This field allows you to designate commissionable accounts on your chart of accounts, whether Income, Liability or Expense accounts, that are eligible for a management fee commission. A management fee may only be applied toward the Commission Accounts set up on this table. To designate a Commission Account: Click the Add Commission Account button. From the Commission Account drop down menu, select the account you would like to designate as commissionable. To help you with your selection, you may click the Show Chart of Accounts button to preview of all accounts within your chart of accounts by Account #, Type, Account Code and Description. From the Percentage drop down menu, enter the commission rate to apply to income received or expended from the Commission Account. Repeat steps 1 - 3 to create additional Commission Accounts. To delete a Commission Account, click the Del link that appears in the Action column.

Owner Contacts

From the selection window, select the contact(s) who own the buildings and units within the Portfolio. If a relevant owner contact does not appear within the window, click on the New Owner button to create the contact. Click the arrow to expand and collapse this section.

Once you have completed entries in the above fields, click the Save button and the edited Portfolio Summary Page for your Portfolio will then display.

From the Portfolio Summary Page, you may then attach any Notes (i.e., personal notes the user would like to memorialize regarding a conversation with the Portfolio owner) or Documents (i.e., your management contract with the Portfolio owner or any other documents limited to a file size of 12 megabytes each) to your Portfolio.

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