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Real Estate Portfolio Management / Portfolio Management / Background Data

Real Estate Portfolio Management / Lease Administration / Background Data

Define Properties

Note: This topic is written from the point of view of Real Estate Portfolio Management. However, the Environmental & Risk Management domain's Waste Management application and EH&S application also use properties; these users can ignore notes specific to Real Estate Portfolio Management.

In ARCHIBUS, property is a registry for your real property inventory that enables you to track buildings, structures, and land. Property is classified as either land or structure, and can have buildings, costs, and amenities assigned to it.

Note: It is important to add geographical locations, space hierarchy data, and ownership information so that the property appears in KPI charts and in the selection tree in the Manage Buildings/Structure/Land by Location task. The following procedure provides instructions for adding this data.

To define properties:

1. From either the Portfolio Management or Lease Administration applications, select the Background Data / Define Properties task from the Process Navigator.

   Note: Alternately, Lease Administrators and Portfolio Managers can add or edit property information by accessing the Define Properties view from the Add / Edit Form - Complete or Add / Edit Form - Basic. They do so by clicking Add / Edit Locations on the Leases in a Property tab, and then selecting Add / Edit Properties from the menu. They can enter the same information as described in this procedure.

2. Click Add New at the top of the Properties panel.
3. Enter the following required information:

   Property Code: The unique identifier for the property.

4. Enter the following recommended fields:

   Country Code

   Region Code

   State Code

   City Code

   Site Code

   Note: To have portfolio items, such as properties, appear in all key performance indicator charts grouped by geographic location, you should develop the entire space hierarchy to generate all charts. That is, you must enter the Country, Region, State, City, and Site Codes for the property.

   Note: To have the portfolio item appear in the selection list in the Manage Buildings/Structures/Land by Location task, you must enter the Country, State, and City Codes.  

   Note: The City and State Codes are used together with the street address to calculate the latitude and longitude so that the portfolio item can be placed on a map in a view, such as Manage Building by Location / Map tab.

   Address 1 - Enter the complete street address, for example: 18 Tremont Street.

   Address 2 -Optionally, enter any additional address information in the Address 2 field. Address 2 is used to place the item on the map only if Address 1 is left blank.

   Note:  When entering data for any item that will be placed on the map, you will get better results by entering full words rather than abbreviations. For example, enter "Street", not "St."

   Property Name: Enter a descriptive name for the property.

   Value - Market / Value - Book - These fields are summed for geographic locations, and are shown in dashboard key performance indicator charts that help you look for profit opportunities in your current portfolio. The Property and Building Benchmark report provides the minimum, maximum, and average for these values for the properties included in the report.

   Note: When you are using the ARCHIBUS Enhanced Global Feature Set, the building cost fields (Value - Book, Value - Market) are shown using your User Default Currency. These cost fields exclude VAT costs as these costs are used for internal financial analysis for which VAT is not relevant. The Add/Edit Wizard show area fields using the User Display Unit of Measure (Metric or Imperial) field entered in your User Profile.

   Date - Book Value Assessed - Enter the date the book value was determined to help you evaluate if the book value needs updating.

   Date - Market Value Assessed - Enter the date the market value was determined to help you evaluate if the market value needs updating.

   Area Manual (for structure or land) - Enter the area for the land or structure. For land, you can view the estimated area by geographical location in key performance indicator charts.

   Land/Structure - Select whether this property is a structure or land.

   Payment Currency: If you are using the VAT and multicurrency features, enter the currency used for transactions for this property.

5. Enter the following additional fields, as needed:

   Building or Property Photo: Select an image to include it in reports, such as the Leases and Suites by Buildings or Leases by Structures/Land reports (Portfolio Management application), or the Building/Structure/Land/Lease Details reports (Lease Administration application).

   Postal Code

   Comments - Enter a brief description of the property location, condition, amenities, or dates of any renovations or modifications.

6. Click Save.
7. To use the property in the Portfolio Management and Lease Administration applications, you must enter ownership or lease information for the property. To enter ownership information:
   1. Do one of the following:
      • Select the Lease Administration / Lease Portfolio / Add /Edit Wizard task, or
      • Select Portfolio Management / Buildings / Add / Edit Wizard task.
   2. Select to edit an existing Land or Structure, and then select the land or structure you just added. By default the Lease tab appears. Click Back to go to the Ownership tab.
   3. On the Ownership Tab, select Owned or leased.
8. If you selected Leased for the portfolio item in the above step, you must enter the lease information. To define the lease for the building/structure/land:
1. Select the Add/ Edit task. On the Action and Type tab, select Add New, Lease in..., An Existing Building/Structure/Land, and then select the land/structure.
2. Click Continue.

   The Leases tab appears.

3. Define a lease for this portfolio item on the Leases tab. See Enter Lease Information.
4. Click Save and Finish.