When it comes to setting up portfolios, you can get as creative (or simple) as you like. There’s no limit — set up as many or as few as you need to organise your properties your way.
Step 1 – Go to Manage Portfolios
From Property Tank, click the Manage Portfolios button.
Step 2 – Open the Portfolio Tab
Click on the Portfolio tab at the top.
Step 3 – Add a New Portfolio
Click the Add Portfolio button, then enter the name of your new portfolio.
You’ll also need to choose whether the portfolio is:
Held in my name – For properties you personally own. These are reported in your individual tax return.
Held in another entity – For properties owned by a trust, SMSF, or company. These have separate tax reporting obligations.
If you’ll be letting properties in this portfolio through share accommodation platforms like Airbnb or Stayz, make sure to toggle on the share property setting. This ensures the right tax treatment is applied to any properties you add to the portfolio.
And that’s it! Your new portfolio will now appear in the dropdown list when you add new properties.
FAQs
Q: How do I change the name of a custom portfolio in Property Tank?
A: In Property Tank, click Manage Portfolios.
Select the Portfolios tab, then click the pencil icon next to the custom portfolio you want to rename. Enter the new portfolio name and click Save.
Q: How do I delete a custom portfolio in Property Tank?
A: In Property Tank, click Manage Portfolios and select the Portfolios tab.
Before a portfolio can be deleted, you must first remove or reassign any properties currently allocated to that portfolio.
Once the portfolio is empty, click the bin icon next to the portfolio you want to delete and confirm the deletion.
