Setting Up Properties & Units: Portfolio Structure

When setting up your real estate bookkeeping, modeling your portfolio structure correctly is crucial. In Mogul Books, we do not require you to create separate accounts for each property. Instead, we treat Properties and Units as dimensions on the journal line level.

This document walks through how to structure your properties, map individual units, and utilize recursive rollups for portfolio-wide reporting.

The Mogul Books Portfolio Hierarchy

Mogul Books supports multi-tier hierarchical property relationships, allowing you to model complex holding structures:

Organization (LLC) → Parent Portfolio → Sub-Property → Unit

Example Structure

Suppose your holding entity Desert Palms LLC owns a 4-unit apartment building and two single-family homes. You would model them as:

Desert Palms LLC (Organization)
Scottsdale Condo (Single-Family Property)
Tempe Quadplex (Multi-Family Property Portfolio)
Unit 1 (Residential Unit)
Unit 2 (Residential Unit)
Unit 3 (Residential Unit)
Unit 4 (Residential Unit)

Step 1: Creating a Property

To register your assets:

1. Navigate to the Setup Console and select the Properties tab.

2. Click + Add Property.

3. Fill in the property details:

Name: Use a descriptive name (e.g., "Tempe Quadplex").
Address: Complete physical address (important for Schedule E tax reporting).
Type: Select Single-Family, Multi-Family, Short-Term Rental, or Commercial.
Parent Property: If this asset belongs to a parent portfolio group, select the parent (otherwise leave as None).

Step 2: Mapping Units

For multi-family properties or single-family homes with lock-off rooms (like ADUs), you must add Units:

1. Select the registered property (e.g., "Tempe Quadplex").

2. Click Add Unit.

3. Enter the unit details (e.g., "Unit 1A" or "Basement Suite").

4. Save the unit.

Note

Booking expenses at the unit level allows you to run unit-level profit margins, helping you identify if a specific unit is costing you more in maintenance than it yields in rent.

The Power of Recursive Rollups

Because property data is dimensionally mapped, Mogul Books compiles your financial reports recursively:

Unit-Level Views: Run a P&L specifically for Tempe Quadplex > Unit 1 to see its net operating income.
Property-Level Views: Filter reports for Tempe Quadplex to automatically roll up the transactions of all four child units (Units 1, 2, 3, and 4) into a single consolidated view.
Portfolio-Level Views: Run a consolidated report for the entire LLC to view Scottsdale Condo, Tempe Quadplex, and any unassigned entity-level overhead side-by-side.

Best Practice: Tag at the Lowest Tier

Always tag transactions at the lowest possible tier. If you buy a dishwasher for Unit 2, tag the transaction to Unit 2 rather than the parent quadplex. Mogul Books will automatically handle the recursive rollup to the parent property and entity levels, keeping your reporting precise.