Merging portfolios

Each property record in Ailo is assigned to an Investor portfolio - Investors with multiple properties under management can opt to have these merged together under a single portfolio (to track their income and expenses for all properties on a single statement), or keep some or all of their portfolios separate so they can account for the properties separately.

As an Investor, you might ask your Property Manager to add a new management to an existing portfolio from the beginning, or to merge existing portfolios together long after the managements began.

Where existing portfolios are merged together, changes in Ailo will appear as detailed in this article.

 

Statements during a merge period

One of the first changes you may notice is that you receive two statements at the end of the month in which the two portfolios are merged:

  • One for the merging property, covering from the 1st of the month through to the date that property was merged into the portfolio.
  • One for the merged portfolio, covering from the 1st of the month to the end of the month, but also including transactions for the merging property from the date it was merged.

From then on, you'll receive a single monthly statement for the merged portfolio - see Monthly statements for examples of how these will look.

Portfolio_Merge.png

 

Transactions for a merged portfolio

After merging properties into a single portfolio, balances and transactions will look a little different to you if you are using the Ailo app:

  • The portfolio wallet balance on the merging property will be transferred to the wallet in the merged portfolio.
  • The wallet settings you had in place for the merging property will be removed - any auto-bill or transfer actions will now be determined by the settings already defined in the merged portfolio wallet.
  • Any paid bills and fees at the time of merge will remain visible in the transactions on the property card for future reference.
  • Unpaid bills will instead be visible on the merged portfolio, as this is where all funds will now accumulate to cover these expenses.
  • Rent payments will still update the paid-to dates on the property card, and the funds show in the portfolio transactions list, clearly showing which property the rent is for.

 

Bank transactions after portfolio merge

Each disbursement generates an email which is accompanied by a Transfer summary - after a portfolio is merged, your bank transactions will reference the portfolio number:

Because banks may have different processes, you may see a slight variation in the transaction description on your bank statement.

Multi-property Investor portfolios:

  • Transactions from multi-property portfolios will display portfolio number and list of properties where possible:

      • Banks using NPP will display a transaction reference detailing the property addresses and Investor portfolio number. There will also be a combination of references that you can ignore. e.g. CT.3z5os PFLIO0001: 1 Smith st, 2 Smith st, 3 Smith st, Ailo Pay adaf0e8b-6ce2-4503-890c-0fe841b93a80 (where CT.3z5os and adaf0e8b-6ce2-4503-890c-0fe841b93a80 are randomly generated IDs required for banking processes).
      • Other banks may simply display Ailo Pay CT.3z5os PFLIO0001 (where CT.3z5os is a random ID for processing purposes only).