Some expenses or transactions do not apply to just one property but to your entire portfolio. Sometimes called overhead, these transactions are referred to as portfolio-level expenses in REI Hub.
Any transaction can be booked to the portfolio level, but it is generally most applicable for expenses. Examples include:
REI Hub subscription
Real estate investor education expenses
Paying your real estate-related CPA or tax preparation costs
To book a transaction to the portfolio level of your account, update the 'Transaction Scope' field from 'Property/Unit' to the option for your portfolio (it will be named whatever you named your portfolio when you set up your REI Hub account).
Similarly, you can enter sub-portfolio-level transactions if you have enabled REI Hub's optional sub-portfolio functionality. From the 'Transaction Scope' dropdown, you can select 'Sub-Portfolio,' enabling a sub-portfolio-specific dropdown to select the appropriate sub-portfolio.
Some important things to know:
Add portfolio-level transactions by choosing your portfolio from the 'Transaction Scope' dropdown.
View portfolio-level transactions using the Net Income by Property report. The far right column, titled 'None Assigned' (for no property assigned), contains portfolio-level transactions.
The Schedule E report offers the option to automatically prorate portfolio-level transactions equally across your properties.
To Add a New Portfolio-Level Transaction
1) Add a new transaction or click Book from the Import Feed
2) Update the Transaction Scope field to the appropriate portfolio or sub-portfolio
3) View portfolio and sub-portfolio level transactions
Access the Net Income by Property report from the Reports page and select the appropriate date range. The 'None Assigned' column includes transactions not assigned to an individual property, including portfolio- or sub-portfolio-level transactions.
You can also visit the Revenues, Expenses, or Booked Transactions page and filter by 'No Property Assigned' to pull the transaction by transaction records.
4) Automatically prorate portfolio and sub-portfolio level expenses with the Schedule E report
Navigate to the Schedule E report
Select the Tax Year and Property.
Choose whether or not to prorate portfolio-level expenses across all your properties.
If you have been utilizing the Mileage Log, you can also choose whether or not to include it at this time.
Click Generate Report.
Still have questions? Reach out to our Support Team via email at [email protected] or call us at (888)939-6865.