To enable more flexible SI/SD workflows for your community, we've added cumulative tracking for substantial improvement and damage to your dashboard.
Log SI/SD Costs:
To input costs, navigate to the
SI/SD tab in the
Property Info Panel (this will appear when you select a property address). Click
+Add New and a pop-up prompts you to enter the date of improvement/damage, total value, and type of cost (either "Improvement Cost" or "Substantial Damage"). You can also add an optional description for the cost. This might be useful if you want to track your improvements by permit number, for example. After clicking
Save, this cost is displayed under the
Costs of Improvements & Damage heading. You can edit or delete this cost at any time by clicking
Edit for the listing.
Track Cumulative SI/SD:
Summary heading, view
50% of Market Value,
Tracking Period, and
Total SI/SD Costs for the property. You can also view a visual display of total cost as a percentage of the property's market value. The dashed line on the graph marks the 50% market value threshold for SI/SD. When the total cost nears this threshold, the graph turns yellow and a warning appears at the top of the
SI/SD tab. When the total cost passes this threshold, the graph turns red and another warning appears.
Adjust Market Value of a Property: Forerunner automatically inputs the market value of a building based on our parcel data and your adjustment ratio. This assessed value is calculated by adjusting the improvement value of the property. To input another property value, click
Edit for the
50% of Market Value listing (under the
Summary heading). Select
Other value estimate to manually input your own market value estimate (actual cash value, appraisals, etc). Then click
Save to adjust calculations for the SI/SD threshold. Later, you can switch back to Forerunner's market value by returning to the
Edit screen and selecting
View Historical Costs:
While costs outside of the tracking period are not added to the cumulative improvement value for evaluating against the SI/SD threshold, you can still view these entries. Under the
Costs of Improvements & Damage heading, click
Show # excluded records to display historical costs to the property. These entries appear in a light grey as a distinction between costs within the tracking period range. Click
Hide # excluded records to hide these entries.
SI/SD Account Settings: The % threshold that you're evaluating for SI/SD (usually 50%) and the adjustment ratio used to determine the property's Market Value are set at the account level for your community. To change these, get in touch with us at firstname.lastname@example.org