Asset Management - Property Components

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.

Forecasting Replacement Costs

Affinity determines future replacement dates using the following information, in order of priority:

1. First Replacement Year, if specified.
2. Last Replaced Year together with the component's Life Cycle.
3. 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.

Asset Management Forecast End Date

Use the optional Asset Management Forecast End Date when you expect to stop being responsible for a property's maintenance costs, for example when a leased property will be handed back.

1. Open the property and select Asset Mgmt.
2. Enter the date in Asset Management Forecast End Date, beneath the Asset Management subtab navigation.
3. Click Save.

The field is available across Property Components, Compliance Cost Forecast and Stock Condition Costs. You need Asset Management update permission to change it.

Leave the date blank to retain the full forecast. If the expected end date changes, enter the revised date and save. To restore the full forecast, clear the date and save.

Component replacements are forecast by year. Replacements in the selected end year remain included; replacements in later years are excluded. For example, an end date of 30 June 2030 includes component replacements forecast for 2030 but excludes replacements from 2031 onwards. End-year component costs are not prorated.

Compliance checks with a known due date use a more precise rule: only occurrences due on or before the end date are included. See Asset Management - Compliance Checks.

The setting applies to this property's costs and occurrences in Asset Management reports and exports, including combined Housing Group and portfolio forecasts. It does not change block-level forecasts, the Lease Renewal Date or the Disposed of Date, and does not archive the property.

Blocks have their own optional Asset Management Forecast End Date. Set it separately in the block’s Asset Management area to limit shared block costs. A property’s end date does not limit its block’s forecast, and a block’s end date does not limit its properties’ forecasts. See setting a block forecast end date.

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.