Best practise use of the Investment report
Best practise use of the Investment report:
The all-new WeconnectU Investment report is an immense value add for your investors (landlords). WeconnectU has paved the way to transform you from a rental agent to a Rental Asset Manager. We are enabling & empowering you to annually report on investment properties to your client, the investor.
- When to generate the Investment report:
It is important to note that this report is based on payments and not on invoicing. This is to ensure capturing the actual flow of funds and accounting accurately for instances where income or expenses are either in arrears or received in advance.
The recommended best time to generate a report:
The system will not allow you to generate a report in the current month. The report needs to be generated for the end of the previous month to ensure payments for each subsequent month is accurately reported.
Important: Ensure that the end date selected falls after the latest valuation.
- Importance of categories:
In WeconnectU categories and payments go hand in hand. Therefore, it is essential to note that this report will not only be based on payments but categories as well. Having the categories correctly set up is crucial in ensuring an accurate and easily understandable investment report.
As seen below, the Net Operating Income table is based on categories, which relays the set-up of the individual accounts.
- Agency comments on the Investment report:There is an Agency comment section on each investment report, where you, as the Rental Asset Manager, can disclose on:1. Account-specific disclosures: Here you can specify any information to clarify the categories on which the payments are based. Noting that landlords usually see the “description” and not the category name itself.2. Purchase and evaluation information: Here you are given the opportunity to disclose whether the purchase/evaluation data was retrieved from Lightstone or whether it’s an agency-based evaluation. 3. Other: Disclose any additional information that might be applicable to the investment report. This could perhaps include industry/area performance.
