Property Components record the major building elements present within an individual property. These components are used by the Asset Management module to forecast future replacement costs and produce Stock Condition reports.
To access Property Components, open the required Property, select the Asset Mgmt tab and click Property Components.
Before You Begin
Important: Before Property Components can be configured, the property's Year Built must be recorded on the Details tab.
The Year Built forms the basis of Stock Condition forecasting whenever a component does not have a First Replacement Year or Last Replaced Year specified.
If the Year Built has not been entered, Asset Management features for the property will not be available.
Applying an Asset Management Profile
Before configuring components manually, consider applying an Asset Management Profile.
An Asset Management Profile provides a predefined set of Property Components and Compliance Checks that can be applied to a property with a single click. This is the recommended approach where multiple properties share a similar specification.
Important: Applying an Asset Management Profile replaces the property's existing Property Components and Compliance Checks.
Updating Property Components
When a property has not yet been configured, the Property Components page displays an empty state. Click the Update link to begin defining the property's components.
Once Property Components have been configured, click the Update button to modify the existing information.
Configuring Property Components
The Property Components page displays all available Property Component Types.
For each component you can specify whether it is present within the property and, where appropriate, record additional information that will improve the accuracy of long-term forecasting.
| Field | Description |
|---|---|
| Present | Indicates whether the component exists within the property. Only components marked as present are included in Stock Condition calculations. |
| Adjusted Life Cycle | Overrides the standard life cycle defined for the Property Component Type. This allows individual properties to have longer or shorter replacement intervals where appropriate. |
| First Replacement Year | Specifies the first planned replacement year for the component. This is useful where a replacement programme has already been scheduled. |
| Last Replaced Year | Records the year in which the component was last replaced. Affinity uses this information when forecasting future replacement dates. |
Forecasting Replacement Costs
Affinity determines future replacement dates using the following information, in order of priority:
- First Replacement Year, if specified.
- Last Replaced Year together with the component's Life Cycle.
- The property's Year Built together with the component's Life Cycle.
This allows both newly configured properties and properties with known replacement histories to be forecast accurately.
Good Practice
Most properties only require components that are actually present to be selected. Recording accurate replacement years for major building elements such as kitchens, bathrooms, roofs and heating systems will significantly improve the accuracy of long-term expenditure forecasts.
Where a component has already been replaced, record the Last Replaced Year rather than adjusting the property's Year Built. This provides a more realistic forecast while preserving the historical information about the property.
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