In REI Hub, the Portfolio is the top level of the reporting structure. Properties live underneath the portfolio, and Units live underneath properties (if applicable). Optionally, you can also enable a Sub-portfolio level of reporting for groups of properties that live between the portfolio and the property.

Generally speaking, a portfolio corresponds to a legal entity. Most separate businesses (separate legal entities) need fully separate books and, thus, their own portfolio. This is especially the case when multiple beneficial partners/ owners are involved, as in a partnership or multi-member LLC.

The main exception is if all your properties are in your name or held in single-member LLCs for asset protection. In this case, there are no other beneficial owners or legal entities with individual filing requirements, so everything is a pass-through that flows through to your personal tax return (on the IRS 1040 Schedule E). With only one tax return involved, you’re generally in the clear to keep all your properties in just one portfolio.

This is also an excellent application for sub-portfolios — you could create one sub-portfolio for each of the LLCs to view aggregate reports easily.

Your portfolio (or sub-portfolio!) is also relevant to your day-to-day bookkeeping. Overhead or any transaction for your rentals that is not directly attributable to an individual property can instead be booked at the portfolio level of your account. View these transactions on the Net Income by property report in the ‘None Assigned’ column.

Each portfolio carries its own subscription. You can add and manage multiple portfolios from one set of REI Hub log-in information. Access for additional users is also segmented at the portfolio level.