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 your REI Hub subscription, real estate investor education expenses, and paying your real estate related CPA or tax preparation costs.
Some key things to know about Portfolio level transactions in REI Hub:
- Add Portfolio level transactions by leaving the Property field blank.
- View Portfolio level transactions with the Net Income by Property report. The far right column, titles '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 each of your properties.
To add a new Portfolio level transaction:
1) Add a new transaction, or click Book from the Import Feed
- Fill out the required fields, leaving the Property field blank.
- Click Save.
2) View Portfolio level transaction in the Net Income by Property
- Access the Net Income by Property report from the Reports page.
- Select the appropriate Date Filter.
- View the 'None Assigned' column for Portfolio level transactions:
3) Automatically prorate Portfolio level expenses with the Schedule E report
Navigate to the Schedule E on the Reports page:
- 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 at this time.
- Click Generate Report
4) Contact us with any questions!
You can submit a ticket through the Knowledge Base, when you're logged into your account via Contact Us, or just send us an email at firstname.lastname@example.org.