Units and parties

The unit is the subject of the valuation discussion. Units holds its property name, unit number, type, area and occupancy status. Unit Availability lets the Property Manager and Valuation Coordinator see those facts in one place. A status such as Available or Occupied helps explain the operating context, while the property and unit identifiers keep similar spaces from being confused. The unit record also connects to leases, service requests and valuation adjustments.

Parties holds owners, tenants, applicants and buyers. A lease points to its tenant, while receipts identify the paying tenant and a service request identifies who raised the issue. The team should use these references to follow the human context of a unit. A party’s name or email alone is not a reliable substitute for the linked record when two people have similar names or one person appears in more than one context.

• Identify. Record a property name, unit number, type and area that staff can recognize consistently.
• Classify. Set the unit’s occupancy state and the party’s relationship to the property.
• Connect. Use unit and party references on leases and service work to keep later evidence attached to the right place.

Agree how property names and unit numbers are formatted across the portfolio. Decide what area measurement is used for a unit and how it relates to the sale area recorded on a comparable. Map the meaning of Available, Reserved, Occupied and Maintenance in day-to-day work. Confirm which team may change status and how a lease reviewer learns when the linked unit is ready for activation. A party can have different business relationships at different times; review the party type alongside the transaction being entered.

Start with a property that has two similar units. Record distinct unit numbers, types and areas, then select one for a lease and an adjustment. Open Unit Availability and verify that staff can pick the correct subject without relying only on a display name. Add a tenant party to the lease and a requester to a service issue. Trace each reference back to the party record. Change one unit to Maintenance and confirm the team understands what that means for its lease and open service work before interpreting the valuation context.

• Unit Availability — Find units by property, type, area and current status.
• Lease Status Board — See which agreements relate to units in active property work.
• Service Work Board — Spot open work connected to a unit.

Begin with comparable evidence to see how unit selection anchors a sale. Lease activation follows a linked unit into occupancy.