Adding a property forecast is super simple and can be completed when you add any new property. You can also add a new valuation for your property to adjust any forecasts and equity value.
How to add property forecasts -
Search the Address - The first step is to start typing your property address and then select the correct address from the dropdown. For units or townhouses ensure you use the following address format in the search; 15/56 Smith Street Southport QLD 4215.
Cant find your address? - We use Corelogic to search addresses, however new properties can sometimes take a few months to become available. So, if your address isn't available yet, you can choose the manual address option and complete the fields.
Select Portfolio - The next step is to select the portfolio which matches the property use. We have 5 default portfolios to choose from during on-boarding, however you can customise portfolios later. The key thing to know is that some portfolios, like the investment portfolio, will impact your tax position and some wont (like owner occupied).
- Investment Portfolio
- Trust Portfolio
- Owner Occupied
- Share Properties (AirBnB, Stayz, etc)
- Vacant Land
Add your property details - Depending on which portfolio you selected, you will see slightly different fields.
1. Purchase Price - The property buy price, excluding any stamps, legals etc
2. Contract Date - Important for CGT calculations in the future
3. Settlement Date - When the property became yours ;)
4. Ownership - Your percentage of ownership as per the title (ie. 50/50, 99/1 etc)
5. Income & Expense Forecasts:
Income - Annual forecast (ie. weekly rent x 52)
Expenses - Expected annual expenses (excluding interest & depreciation)
Loan Interest - Annual interest (ie. loan amount x annual interest rate)
Depreciation - Annual capital works + plant & equipment + LVP
Choose Property Valuation and Growth Percentage
Market Value: You can adjust CoreLogic’s estimated valuation and confidence range by adjusting the sliders, or manually enter your own value if you have specific insights.
Growth Forecast: You can adjust CoreLogic’s growth forecast by adjusting the slider to match your expectations.
Share Properties (AirBnB, Stayz, etc)
For share properties we have an additional step to ensure we calculate the percentage of claim accurately. Once again, the percentage of claim can be updated at any time so a best guess is perfectly ok.
Percentage of Claim - Answer the Claim Calculator questions and we'll do the rest
Are you renting the whole property Y/N
If no, you'll need to enter the estimated square meterage (sq.m) of the property, the exclusive let area and the common area.
Are you renting the whole year Y/N
If no, you'll need to enter the number of days available for letting
From the information entered, we will calculate the percentage of claim which can be updated at any time if things change throughout the year.
