Property units are any units which can be leased or owned inside buildings. Typical property units are apartments, flats and commercial spaces. A building can have one or more units.

You can access property units view by clicking a building on map. The view shows all units which are attached to clicked building's group.

Creating a new unit
You can create a new unit by clicking "Add unit" from the group view.

On the create unit view user can create a new unit for the group. The view has following basic fields:

Unit id (Unique identifier for the unit. Mandatory.)
Unit name (Name for the unit. Typically the address are apartment number.)
Usage type (Type of unit. Commercial or residential.)
Building (Building which this unit belongs to.)
Floor area (Floor area of the unit in m2.)
Floor (Floor number of the unit.)
Description (Free text description of the unit.)

Besides the basic fields, the form has a number of other detail fields. Changing these values affect analytics results and price estimations created by the Skenarios service.

The exact number and type of the fields vary depending on your organisation settings; however, there are a few which are common for all organisations.

Condition (Condition of the property unit. If the condition is not given, it's assumed to be Mediocre.)
Number of rooms (Number of rooms in the apartment. This includes bedrooms, living room, working room or hall. This doesn't include kitchen, toilets, bathrooms or storage spaces.)
Sauna (True, if the unit has own sauna.)
Type of Balcony (Type of balcony in the property.)
Type of Kitchen (Type of kitchen in the property.)

For the other fields, please contact your organisation administrator for more info.

Edit an existing unit
There are a number of ways user can edit existing unit.

Editing basic details
The basic information can be edited by clicking "Edit unit details. A view open which allows the user to edit same basic details as defined in section "Creating a new unit".

Lease agreements

From the lease agreements view, the user can add, edit or delete unit's lease agreements. The user can add the following information:

Tenants name (Identifier for the tenant.)
Tenant rating (Tenant's rating, "A" being the best.)
Lease type (Type of lease agreement. Permanent or fixed length.)
Rent (€/month) (Total monthly rent of the unit. Mandatory.)
Valid from (Start date of current tenant's agreement.)
Valid to (End date of current tenant's agreement. Can be left out.)
First possible expiring date (The date that the current agreement can be officially expired.)
Notice period (The period of time that the tenant needs to notify the property owner before terminating the agreement.)

Property Value
Property value contains two parts: the estimated property value and the actual history of the property's value. The estimated value is Value estimation section.

For all types of units, in order to get value estimation, they need to be attached to a building, which should have all the information about postal code and municipality, and floor area. For Residential type of units, number of rooms is required to calculate value estimation. For Office, Retail, Storage types of units, lease agreements are not mandatory but they can affect the result of value estimation.

Discount rate expresses the time value of money over an investment horizon. We determine the discount rate based on growth rate and yield of a given property according to their type and location (i.e. default discount rate). However, the discount rate also compensates for the risk which an investor is willing to take over the investment. Therefore, discount rate could be adjusted according to your needs (e.g internal rate of return, weighted average cost of capital and so on) by changing the number on your own. If there is no discount rate is provided, the valuation uses the default discount rate as specified in the above.

The feature is now available for properties in Finland and United Kingdom with all commercial types of units: "Office", "Retail", "Storage".

Renovation plan

The renovation plan view contains unit's historical and planned renovations. Currently supported renovation types are bathroom and kitchen renovations. Possible fields for repairs are year, price (estimate) and description.

Maintenance costs

Maintenance costs consist of all non-planned maintenance costs related to the property unit.

Maintenance type (Defines type of maintenance. This is used to group and compare historical costs of the property.)
Date (Date of the maintenance event.)
Cost (Actual costs of the maintenance event.)
Description (Description of the maintenance event.)
Humidity and Temperature (If the unit has running IoT device , which are used for measuring humidity and temperature inside the unit area, and connected to Skenariolabs' service, the data will be displayed in the available line charts in real time.)
Was this article helpful?
Cancel
Thank you!