Add a component to your property

Overview¶

A component is a physical part of the property that your reserve study plans to replace, such as a roof, a pool pump, or an elevator. Every component has a life and a cost, and those numbers feed the reserve funding calculations.

Each component belongs to one property and to a single fiscal year.

Setup¶

You need write access to the Components module. Without write access, Create Component and the row menus on the component list are not shown. If the property has no components at all, the page shows "There are no components for your property" and tells you to contact your account administrator.

Components appears in the left navigation when the current fiscal year or a planning (future) fiscal year is selected. With a past fiscal year selected, Components is not in the navigation.

Check the fiscal year selector at the top of the screen first. The component you add belongs to the year showing there.

Create Component is available in the current fiscal year and in a planning year. Create Component is not shown while a past fiscal year is selected.

In a planning year, a banner appears above the list: "These components are a copy for planning purposes. Add, edits, and deletes will not affect your current components until planning is complete and a funding model is adopted."

How-to¶

Open the property, then select Components in the left navigation. This opens the Components page.

On the Components page, select Create Component. This opens the Create Component window.

If the property has no components yet, the empty page offers an Add Component button. Selecting Add Component opens the same window.

You name the component in step one. You enter the numbers in step two.

Under the Choose a Component header, select one of the two tabs.

Browse by category. Categories appear in the left list, with the first one already selected. Select a category and its components appear on the right. Select a component there. Browsing this way prefills a useful life and a cost in step two, and you can change every prefilled value.

Create component from scratch. Enter a Component Name (up to 100 characters) and a Category Name. Both are required. Use the Category Name box to search the categories already on the property. Type a name that does not match one of them and an Add New button appears. Select Add New to create that category and attach it to this component. The category is saved as soon as you select Add New, before you save the component.

Some characters are not accepted in either field. Enter one and an error appears under the box.

Complete what the tab requires. Until you do, Continue is greyed out.

On the browse tab, select a component on the right. Selecting a category on the left is not enough.

Enter the component details. The Component Name and Category you chose in step one appear at the top and are read only.

Enter Component Details is the header above them.

Required fields are marked with an asterisk next to the label.

To change the Component Name or the Category, select Back.

Save the component.

Save \& done saves the component, closes the window, and refreshes the component list.

Save \& add another saves the component and returns you to step one with the form cleared. You can keep adding components without reopening the window.

Back returns to step one without saving.

Add a component like one you already have¶

On the component list, open the row menu for an existing component and select Duplicate.

Doing so prefills the new name from the original with DUPLICATE added. You can edit the name before confirming.

Duplicate creates the copy on the same property. There is no option to copy or move a component to a different property.

Reference¶

Required fields¶

Trust the asterisk rather than a fixed list. The set shifts with choices you make on the form, including the Component Type and the Calculation Type.

With a Component Type that counts toward reserves, the fields carrying an asterisk include:

Component Type. Preselected for you as a type that counts toward reserves.

Useful Life. Whole years, from 1 to 99.

Remaining Useful Life. Whole years, from 0 to 99.

Calculation Type. Measurement or Total Cost.

Unit Of Measure. Appears when Calculation Type is Measurement.

Replacement %. From 1 to 100. Starts at 100.

Unit Price. Becomes Total Cost when Calculation Type is Total Cost.

Quantity. Appears when Calculation Type is Measurement.

Source of Component Information.

Select the Adjust Inflation Rate checkbox.

Doing so unlocks Inflation Rate. You can then enter a rate from 0 to 20.

Without the Adjust Inflation Rate checkbox selected, Inflation Rate is locked and shows no asterisk.

Without the Adjust Inflation Rate checkbox selected, the component uses the inflation rate set for the reserve study. Any value showing in the locked field is not applied.

What SmartProperty fills in¶

Year Of Installation is calculated from the Useful Life and Remaining Useful Life you enter. You cannot type into Year Of Installation.

Until both Useful Life and Remaining Useful Life have a valid number, Year Of Installation shows "Calculated from useful life".

Fields you can leave blank¶

General Ledger Code. Up to 100 characters.

Description. Up to 250 characters.

Notes. Free text, with an Include notes in report checkbox underneath it.

Component Types outside reserves¶

Choose a Component Type that does not count toward reserves and a warning appears under the field: "Component is excluded from reserve funding calculations."

At the same time, the asterisks clear from Useful Life, Remaining Useful Life, Replacement %, Unit Price (or Total Cost), Quantity and Inflation Rate. You can save the component without filling those fields in.

Component Type, Calculation Type, Unit Of Measure and Source of Component Information keep their asterisks.

The component still appears in your component list.

Troubleshooting¶

On the from scratch tab, selecting the greyed out Continue brings up a message listing what is still missing.

If either save button is greyed out, select it anyway. A message appears naming how many more details the component needs and listing them. The fields the message names show their error underneath.

Loading many components at once¶

The Components page also has an Import option for loading components from a CSV file. Importing from a CSV file is a separate flow from adding one component at a time.

[What Can Each User Role Do? (Role Permissions Reference)](https://smartproperty-admin-guide.pages.dev/role-management/what-can-each-user-role-do-role-permissions-reference/)