Real Estate Portfolio Management / US Federal Property Registry

Adding New Property to Your Inventory

When you add a new property, its Transaction Type is automatically entered as 'Inserted', its Status is 'Created', and the date, time, and your User Name are automatically entered. If the transaction is approved, the portfolio item's status is changed to 'Posted' and a new record is created for the real property asset.

To facilitate data entry and reduce errors, you select data from selection lists for many entries.

Required Data

The Federal Real Property Council requires all 25 data elements at the constructed asset level for buildings and structures, and the parcel level for land. Unless otherwise noted, all data is required for all property types (building, structure, land, ) and legal interests (owned, leased, otherwise-managed). Exceptions to this are noted in the Appendix B: Quick Guide - Exceptions to Mandatory Data Elements found in the Federal Real Property Council's document "2011 Guidance for Real Property Inventory Reporting."

When entering information for a new property into Web Central, the data required to save the record is marked with a red asterisk.

How to Add a New Property

This procedure describes adding new property using the Add New Property task. You can also add a new property from the Find and Manage tab by selecting Real Estate Portfolio Management/US Federal Property Registry/Business Process Owner/Manage Real Property Inventory, and selecting Add New from the Properties Portfolio panel.

To add a new property:

Select Real Estate Portfolio Management/US Federal Property Registry.
Select either the Business Process Owner or Portfolio Manager roles.
Select the Add New Property task.
Enter the following required fields on the Add New Property form:
- Real Property Unique Identifier. Enter up to 24 alpha-numeric characters to identify the property. The identifier must be unique across all property types.
- Description of Change: Enter a summary of the change or indicate that this is a new property. The summary helps those reviewing or approving the data to target what has been changed.
Enter the following recommended field:
Real Property Name:This is a short text description that further identifies the property to users maintaining its data. Although not required, the Real Property Name is a useful entry as it appears in selection lists and can help users identify specific properties.
Enter additional fields as you require. Most fields are numbered to reflect the Data Element # assigned by the Federal Real Property Council.
Click Save.