By default, REI Hub's reporting is structured on a tiered basis, going down from Portfolio > Property > Unit. The optional 'Sub-Portfolio' feature adds an additional layer to that structure, between the top level portfolio and individual property layers.
The sub-portfolio layer makes it easy and convenient to pull reports based on groups of properties. This is helpful for investors who want to view subsets of their total portfolio or who may be keeping the books for multiple legal entities inside of one portfolio. However, sub-portfolios do not provide the complete separation between financials you may require in some circumstances, such as multiple partnerships with different owners. Please refer to our
Portfolios and Legal Entities
article for more detail on whether or not sub-portfolios are appropriate for your situation.
After sub-portfolios have been enabled and created, you can also
book expense transactions directly to the sub-portfolio
. This is appropriate for circumstances when you have expenses that apply to the entire sub-portfolio in aggregate, but not to an individual property (such as LLC fees). This option is also available at the overall portfolio level, and is discussed more in this article.
Properties can only be in one sub-portfolio at a time. If a property has already been assigned to one sub-portfolio, but then assign it to a different sub-portfolio, it will be removed from the first.
Key takeaways from this article:
- Sub-portfolios enables reporting on groups of properties
- You can also book expenses to the sub-portfolio level
- A property can only be in one sub-portfolio at a time
- Sub-portfolios are not a substitute for completely separated financials
To enable and add sub-portfolios:
1) Navigate to the 'Portfolio Settings' page in the right side menu
Access the right side menu by clicking the three horizontal bars in the upper right corner of the page, next to your portfolio name.
2) Toggle 'Enable Sub-Portfolios' to YES, and click Save Settings
3) Navigate to the new 'Sub-Portfolios' menu item. Click 'Add Sub-Portfolio'
Find the 'Sub-Portfolios' page under the 'Portfolio' menu item on the left side, beneath 'Properties.'
4) Name the sub-portfolio, and assign properties
- Properties can only be in one sub-portfolio at a time.
- You can also attach properties to sub-portfolios from the 'Edit Property' page.
5) View sub-portfolio dashboards if desired
6) Sub-portfolios will now be an option when booking revenues and expenses
First select 'Sub-Portfolio' from the 'Transaction Scope' dropdown, and then select the appropriate sub-portfolio.
7) View the Net Income by Sub-Portfolio report
Or select 'Sub-Portfolio' from the 'Transaction Scope' dropdown on most of the reports!
8) Contact us with any questions!