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Advisories are emailed to all users periodically or as required. Many items have a long-term relevance. Some may answer questions that you have right now.
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Send in your questions or ideas about Dashflow for entry into an advisory: [email protected]
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Dashflow v1.15.5 now available.
DASHFLOW USER ADVISORY #1 Last checked November 2020. Originally published 2018.
Rationale for these Advisories
Do you really need an Advisory if Dashflow is as super-easy and intuitive as we claim?
The answer is: Yes.
As the number of features increases, typically following specific requests from users, the app inevitably becomes more complicated. At the same time iOS devices and iOS software continue to develop and we must adapt. In any case, there is a lot going on inside Dashflow—because that is the way our customers want it: fully professional, fully corporate.
You may want the app to stay as you first found it, but the tech industry will not let you do this. Dashflow has to work with the latest smart phones and their ever-evolving software. So this is not us forcing change on you. This is us staying relevant and useful for you.
To get full value out of any tech tool, you have to give it some attention. In a people’s business like Commercial Real Estate, this is not always natural. But if you do not get the most out of Dashflow, sooner or later your competitors will. One way we can help you is by providing advice and information, and that is what this User Advisory is about.
Welcome to the reality of 21st Century working!
The answer is: Yes.
As the number of features increases, typically following specific requests from users, the app inevitably becomes more complicated. At the same time iOS devices and iOS software continue to develop and we must adapt. In any case, there is a lot going on inside Dashflow—because that is the way our customers want it: fully professional, fully corporate.
You may want the app to stay as you first found it, but the tech industry will not let you do this. Dashflow has to work with the latest smart phones and their ever-evolving software. So this is not us forcing change on you. This is us staying relevant and useful for you.
To get full value out of any tech tool, you have to give it some attention. In a people’s business like Commercial Real Estate, this is not always natural. But if you do not get the most out of Dashflow, sooner or later your competitors will. One way we can help you is by providing advice and information, and that is what this User Advisory is about.
Welcome to the reality of 21st Century working!
App Errors & App Updating
Dashflow is the only tool that contains its own error-discovery process. Always compare results of the AI-engine in the app with the results of the Excel-based DashModel. Discrepancies in IRR greater than 5% should be reported immediately,
We give such reports top priority and a fix is typically released within 7-14 days. Probably that fix for someone else will be irrelevant to your work today, but sooner or later it will be relevant. So it is impossible for us to over-emphasize the importance of updating.
Your security or at least your firm’s security depends upon prompt regular updating. Not only do you get more features, better stability and easier use, you also get fixes for bugs that might possibly create faults in your modelling.
We give such reports top priority and a fix is typically released within 7-14 days. Probably that fix for someone else will be irrelevant to your work today, but sooner or later it will be relevant. So it is impossible for us to over-emphasize the importance of updating.
Your security or at least your firm’s security depends upon prompt regular updating. Not only do you get more features, better stability and easier use, you also get fixes for bugs that might possibly create faults in your modelling.
Importing
Since our stream of improvements to importing earlier in the year, we have not had many support requests and virtually no complaints.
The Test Files on the website and the downloadable Guide to a safe Excel layout have proved useful to many.
If you have problems with importing, do not hesitate to let us know. We are constantly improving this app function.
The Test Files on the website and the downloadable Guide to a safe Excel layout have proved useful to many.
If you have problems with importing, do not hesitate to let us know. We are constantly improving this app function.
Using Outlook
Early versions of Dashflow defaulted to Apple Mail. Some customers have reported that their security systems required the use of Outlook. As a result, since v1.6.0, we provide all exports with the Outlook option.
If you cannot see Outlook in your Apple Uploader, then you must switch it ON. To do this: open the Uploader and scroll the top row to the far right and tap on the “More” icon with 3 dots. This will open a popup labeled “Activities” and if you scroll down that you will see Outlook and its switch. Turn the switch ON, and then close the popup. Outlook will then be available.
In the Uploader you may see both Copy to Outlook and Outlook. We advise you to use Outlook.
If you cannot see Outlook in your Apple Uploader, then you must switch it ON. To do this: open the Uploader and scroll the top row to the far right and tap on the “More” icon with 3 dots. This will open a popup labeled “Activities” and if you scroll down that you will see Outlook and its switch. Turn the switch ON, and then close the popup. Outlook will then be available.
In the Uploader you may see both Copy to Outlook and Outlook. We advise you to use Outlook.
Using a Detachable KeyBoard
We know many of you love connecting a keyboard, especially to the iPad. But be careful with Dashflow. We do not advise use of a keyboard.
In the interests of speed and creativity, Dashflow has been deliberately designed to work without a keyboard (or a mouse for that matter). But, of course, when you export the Excel DashModel to your PC to make tweaks or checks, then keyboard and mouse come in to their own again.
If you are finding entry errors or strange glitches and you have a keyboard attached, check again without the keyboard and they might well vanish.
Try tapping the microphone icon on the screen keyboard and speaking into your device: the text appears like magic and is amazingly accurate, often perfect. Far quicker than typing. This speed, ease and naturalness reflects the spirit of Dashflow.
In the interests of speed and creativity, Dashflow has been deliberately designed to work without a keyboard (or a mouse for that matter). But, of course, when you export the Excel DashModel to your PC to make tweaks or checks, then keyboard and mouse come in to their own again.
If you are finding entry errors or strange glitches and you have a keyboard attached, check again without the keyboard and they might well vanish.
Try tapping the microphone icon on the screen keyboard and speaking into your device: the text appears like magic and is amazingly accurate, often perfect. Far quicker than typing. This speed, ease and naturalness reflects the spirit of Dashflow.
DASHFLOW USER ADVISORY #2 Last checked November 2020. Originally published 2018.
Delete Dashflow but Save your Data
There could be many reasons to want to delete Dashflow e.g. you are giving your old iPhone 6S to your wife or sell it to a stranger so you can get yourself an iPhone 12. But do you really want to risk giving all your firm’s deals to them? Of course not. And if you want to depend on your password for protection, how do you then continue working on current deals or refer to old deals on your new iPhone 12?
The answer is that you need to switch on Deal Storage in Dashflow on your old device and upload all your deals to your personal iCloud. Then you delete Dashflow from the device and that deletes all its data as well. When you get your shiny new iPhone 12 and have installed Dashflow again, you go to Deal Storage and restore all the deals. Then, for security, we recommend that you delete all those deals from your iCloud and switch off iCloud.
That’s it. Very simple. Very safe.
The answer is that you need to switch on Deal Storage in Dashflow on your old device and upload all your deals to your personal iCloud. Then you delete Dashflow from the device and that deletes all its data as well. When you get your shiny new iPhone 12 and have installed Dashflow again, you go to Deal Storage and restore all the deals. Then, for security, we recommend that you delete all those deals from your iCloud and switch off iCloud.
That’s it. Very simple. Very safe.
Login Frequency
Login is a security feature. To make it easier, we have now set the app to retain your username so only your password needs to be entered. Following requests, we have also extended the frequency of required logins from 7 days to 14 days.
iPhone - iPad Discrepancy
Question to Support: Why does my iPad and iPhone version produce different IRRs when importing the same tenancy rent roll?
Answer: Such a discrepancy can often be the case when your default investment assumptions are set-up differently on your iPad and iPhone.
Answer: Such a discrepancy can often be the case when your default investment assumptions are set-up differently on your iPad and iPhone.
Adjusting Length of Hold Periods
In the app, you adjust the hold period by pinching in the CASH FLOW screen. Pinch in to reduce the hold period and pinch out to increase it. The maximum provided by the app is 20 years
Although these app-based increases are only in whole years, users can be more precise via DashModel.
We regard the idea of monthly precision as too extreme because Day-1 is never guaranteed. However quarterly precision does make sense and in DashModel, you can have hold periods measured in Quarters.
If you go to the Executive Summary at the top left under the Buy, hold sell assumptions, you will see the hold period measured in quarters in blue. Just change it to the figure you prefer. There is one caveat: the DashModel number can only be reduced. So if you wanted to set the hold period for 6.5 years (26 quarters), then you would set the App hold period for 7 years. After exporting the DashModel, you would go to the Executive Summary and alter the ‘28’ to ‘26’. All calculations will then adjust.
Although these app-based increases are only in whole years, users can be more precise via DashModel.
We regard the idea of monthly precision as too extreme because Day-1 is never guaranteed. However quarterly precision does make sense and in DashModel, you can have hold periods measured in Quarters.
If you go to the Executive Summary at the top left under the Buy, hold sell assumptions, you will see the hold period measured in quarters in blue. Just change it to the figure you prefer. There is one caveat: the DashModel number can only be reduced. So if you wanted to set the hold period for 6.5 years (26 quarters), then you would set the App hold period for 7 years. After exporting the DashModel, you would go to the Executive Summary and alter the ‘28’ to ‘26’. All calculations will then adjust.
Software Glitches & the Spirit of Software
Recently I looked at Updates in the App Store and saw Microsoft’s last two updates for OneNote were “for bug fixes only”. This app is in v16 and they still have bugs! Google reveals the same in its Google Docs and Sheets apps. Apple’s software regularly has updates just for bugs. And so do all regularly updated apps by developers large and small.
If giant firms with unlimited budgets cannot eradicate bugs, then no one can. The fact is that no tech firm, including ourselves, can escape from the nature of software. Bug fixes are required both when an app is new, when it is growing, and when it is mature.
Dashflow’s AI has more moving parts than most CRE data-organising software. So we do a lot of testing. But not all software defects can be tested and not all are easily visible via crashes or production errors. Many bugs only emerge with a particular sequence of events or due to an unusual deal structure or following provision of a new feature.
That means some error-discovery ends up in the hands of our customers. Once an error is found and reported, it is usually rather easy for us to fix. Every fix does not just help you, it helps the whole community of Dashflow users. So, while it is natural to be upset by crashes and errors, it seems only fair to be grateful that you have benefited and will continue to benefit at zero cost from fixes for crashes and errors reported by others.
If giant firms with unlimited budgets cannot eradicate bugs, then no one can. The fact is that no tech firm, including ourselves, can escape from the nature of software. Bug fixes are required both when an app is new, when it is growing, and when it is mature.
Dashflow’s AI has more moving parts than most CRE data-organising software. So we do a lot of testing. But not all software defects can be tested and not all are easily visible via crashes or production errors. Many bugs only emerge with a particular sequence of events or due to an unusual deal structure or following provision of a new feature.
That means some error-discovery ends up in the hands of our customers. Once an error is found and reported, it is usually rather easy for us to fix. Every fix does not just help you, it helps the whole community of Dashflow users. So, while it is natural to be upset by crashes and errors, it seems only fair to be grateful that you have benefited and will continue to benefit at zero cost from fixes for crashes and errors reported by others.
DASHFLOW USER ADVISORY #3 Last checked November 2020. Originally published 2018
Editing Plans & Leases
When the app was released in January 2017, editing of the Property Plan was very limited, as was editing of the Leases. Work-arounds have been clunky and time-consuming. Customers quickly demanded proper editing and a lot has now been achieved. Let’s review what you can do.
Using the Wizard: Steps 1 to 4 can now be traversed forwards and backwards as often as you wish. Once you reach Step-5, then the next two mechanisms apply.
Using the Tenancy or Vacancy Table: You can delete units from any opened lease or vacancy info. You can also alter the area of any floor, alter the area of any unit, alter the rent and market rent of any unit. Altering area is always tricky becuase it may impact on areas of adjacent units: so do a quick check.
Using the Leasing Details Graphic: You can now edit the plan or edit any lease at any time while working on your deal. However, the property plan only permits editing when in it is in the Zoom state.
Editing the Plan: In the zoom state, tap on a blue floor number, and you can add a floor above or below, delete the floor, add units to the floor, or remove units from the floor. If you had forgotten there was a basement, add a basement level by tapping the Ground floor (G or L1 according to your country).
Editing the Lease: In the Zoom state, touch and hold on an unassigned Unit (U). The background turns green and a popup showing all the completed leases appears. You can then add one or more Units to your selection before choosing the lease to supplement.
Using the Wizard: Steps 1 to 4 can now be traversed forwards and backwards as often as you wish. Once you reach Step-5, then the next two mechanisms apply.
Using the Tenancy or Vacancy Table: You can delete units from any opened lease or vacancy info. You can also alter the area of any floor, alter the area of any unit, alter the rent and market rent of any unit. Altering area is always tricky becuase it may impact on areas of adjacent units: so do a quick check.
Using the Leasing Details Graphic: You can now edit the plan or edit any lease at any time while working on your deal. However, the property plan only permits editing when in it is in the Zoom state.
Editing the Plan: In the zoom state, tap on a blue floor number, and you can add a floor above or below, delete the floor, add units to the floor, or remove units from the floor. If you had forgotten there was a basement, add a basement level by tapping the Ground floor (G or L1 according to your country).
Editing the Lease: In the Zoom state, touch and hold on an unassigned Unit (U). The background turns green and a popup showing all the completed leases appears. You can then add one or more Units to your selection before choosing the lease to supplement.
Inputting Precise Values
Entering values using the rotary wheel is easy, quick and natural. But the wheel cannot generate absolute precision. It specifies, say, passing and market rents to the nearest 0.25p or 0.25c. In many situations you want to specify the actual rent to the nearest 0.01p or 0.01c. The same applies to area metrics.
So every wheel comes with a numberpad/calculator. Just tap the circle in the centre of the wheel to bring up the pad and enter your precise figures. The system is set to prevent inappropriate precision.
Note that graphics will often display truncated values for readability and space reasons. But the correct precise value is visible above the wheel, and that is the value used in calculations in the app and in the DashModel.
So every wheel comes with a numberpad/calculator. Just tap the circle in the centre of the wheel to bring up the pad and enter your precise figures. The system is set to prevent inappropriate precision.
Note that graphics will often display truncated values for readability and space reasons. But the correct precise value is visible above the wheel, and that is the value used in calculations in the app and in the DashModel.
Ways to Delete
It is always easy to delete a value or table row in Dashflow.
Often the app uses the standard Apple method: just swipe from right to left in the offending row. A red delete box appears on the right and it can be tapped to effect the deletion. This applies, for example, to deleting a deal in SAVED DEALS, or to deleting an event or a particular Unit in a Lease in LEASING DETAILS.
Sometimes you delete a whole table by using this R to L swipe action on a key value. For example, in a Lease, if you delete the Tenant, then you delete the whole lease.
There are two other more obvious deletion methods. When you see a vertical column of red X icons in a table, just tap one and the corresponding row is removed. This method applies in the IMPORT FILE CHECK to assignments of Excel file headers to Dashflow fields.
In some special cases where the file is in the cloud, greater care is required and you need to select the item and then tap a red Delete button. A warning may be offered, and you have to confirm that you really do want to delete.
Often the app uses the standard Apple method: just swipe from right to left in the offending row. A red delete box appears on the right and it can be tapped to effect the deletion. This applies, for example, to deleting a deal in SAVED DEALS, or to deleting an event or a particular Unit in a Lease in LEASING DETAILS.
Sometimes you delete a whole table by using this R to L swipe action on a key value. For example, in a Lease, if you delete the Tenant, then you delete the whole lease.
There are two other more obvious deletion methods. When you see a vertical column of red X icons in a table, just tap one and the corresponding row is removed. This method applies in the IMPORT FILE CHECK to assignments of Excel file headers to Dashflow fields.
In some special cases where the file is in the cloud, greater care is required and you need to select the item and then tap a red Delete button. A warning may be offered, and you have to confirm that you really do want to delete.
Work-Arounds
How to Handle both Junior and Senior Loans. A blended rate can simply represent the combined senior loan and junior loan costs.
Price or Value
We’ve heard that RICS Red Book traditional valuations are becoming of less importance today as valuers focus more on what bidders actually use. They prefer an approach based on discounting cash flows (DCF).
Dashflow is about profitability and our bottom-line is that the current value is always the price a buyer is willing to pay. It is not some number created by a mix of history, conventional rules and formulae: interesting as such numbers may be.
Dashflow is about profitability and our bottom-line is that the current value is always the price a buyer is willing to pay. It is not some number created by a mix of history, conventional rules and formulae: interesting as such numbers may be.
DASHFLOW USER ADVISORY #4 Last checked November 2020. Originally published 2019
Always Export the DashModel
You may feel that Dashflow gives you all you want, but it’s best to play it safe: export the DashModel. That way you have the actual financial model in an Excel workbook and accessible from your firm’s desktop.
In Excel, you can do checks, or even an audit, as well as tweaking the model further. The standard check should be to compare the DashModel profitability metrics with the corresponding Dashflow values. If these differ by more than 5%, alarm bells should ring—there is likely an error somewhere. Immediately send such a deal to us for further investigation.
There is another reason to export. The iPhone or iPad is a convenience device, and often personally owned. It is not suitable as a long-term storage vehicle for deal files that are a property of the firm. Any small device can be lost, broken or stolen; and any or even all software files can become corrupted. Your DashModels, and indeed the deal files themselves, should be stored on the firm’s server and protected by the firm’s IT security and disaster-recovery systems.
In Excel, you can do checks, or even an audit, as well as tweaking the model further. The standard check should be to compare the DashModel profitability metrics with the corresponding Dashflow values. If these differ by more than 5%, alarm bells should ring—there is likely an error somewhere. Immediately send such a deal to us for further investigation.
There is another reason to export. The iPhone or iPad is a convenience device, and often personally owned. It is not suitable as a long-term storage vehicle for deal files that are a property of the firm. Any small device can be lost, broken or stolen; and any or even all software files can become corrupted. Your DashModels, and indeed the deal files themselves, should be stored on the firm’s server and protected by the firm’s IT security and disaster-recovery systems.
New Guidance Icon
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Although the app is easy and intuitive, some screens offer so much that the app now provides basic guidance. Our new Guide icon, shown at right, has been the route to getting help in recent weeks and going forward. If you tap the icon, there is an overlay that prevents any further work on the screen and indicates how to do various things on that screen.
Without the Guide, you are unlikely to work out how to edit a previously completed stacking plan in LEASING DETAILS. It will also help you master the FOOTPRINT wizard when that is released. |
Get into the habit now: check out all guide icons!
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Different Types of .xlsx File
A user reported to us a failure to import a perfectly laid out Rent Roll .xlsx file and, very naturally, wondered why.
As you know, Dashflow only imports Excel Workbooks in .xlsx format. But just because you see a file ending in .xlsx, does not mean that it is an Excel Workbook. Microsoft has confused us all by creating two different formats that use the .xlsx ending.
You can see this for yourself when you do a “Save as…” for any Excel file. There is a selection bar at the bottom that shows the current format and if you click on the small selector box on the right of that bar, you will see the numerous different possible formats.
You will see one format named “Excel Workbooks (.xlsx)” and way down the list there is another named “Strict Open XML Worksheet (.xlsx)”. Our user was trying to import the Strict Open XML Worksheet and this is not supported by Dashflow. We had not come across this format before. If you know of any systems that routinely use or export in this second strict .xml format, let us know.
As you know, Dashflow only imports Excel Workbooks in .xlsx format. But just because you see a file ending in .xlsx, does not mean that it is an Excel Workbook. Microsoft has confused us all by creating two different formats that use the .xlsx ending.
You can see this for yourself when you do a “Save as…” for any Excel file. There is a selection bar at the bottom that shows the current format and if you click on the small selector box on the right of that bar, you will see the numerous different possible formats.
You will see one format named “Excel Workbooks (.xlsx)” and way down the list there is another named “Strict Open XML Worksheet (.xlsx)”. Our user was trying to import the Strict Open XML Worksheet and this is not supported by Dashflow. We had not come across this format before. If you know of any systems that routinely use or export in this second strict .xml format, let us know.
iPhone-6 Limitations
Apple now provides a large number of devices with slightly different screens and sometimes markedly different underlying technology. In coding Dashflow our developers seek to ensure everything works properly in every device that runs iOS10 or later, but this is not always achievable. So we now advise that your device should be running the latest version of iOS...currently iOS14.
We have recently discovered that the iPhone-6 technology may time out when building especially complex DashModels. This is because the processor demands of Dashflow’s AI engine must take priority.
Rather than trying to adapt our software to early tech, which is ultimately a self-defeating endeavour, we advise iPhone-6 users to upgrade to a later model if their deals are hitting the buffers. Meanwhile our developers are working on methods to simplify processor demands during complex operations so as to slow down the rate of device obsolescence. If you are using an iPhone-6 with Dashflow v.1.7.0 or later, then you will already be benefiting from this
We have recently discovered that the iPhone-6 technology may time out when building especially complex DashModels. This is because the processor demands of Dashflow’s AI engine must take priority.
Rather than trying to adapt our software to early tech, which is ultimately a self-defeating endeavour, we advise iPhone-6 users to upgrade to a later model if their deals are hitting the buffers. Meanwhile our developers are working on methods to simplify processor demands during complex operations so as to slow down the rate of device obsolescence. If you are using an iPhone-6 with Dashflow v.1.7.0 or later, then you will already be benefiting from this
DASHFLOW USER ADVISORY #5 Last checked November 2020. Originally published 2019.
Update Promptly
Have we mentioned this before? It is really important to update. Here are four key reasons to embrace upgrades and updates as soon as they are released and you are notified.
1 . Reduce security vulnerabilities
Old versions of any software are always less secure. It’s in your best interest to have maximum security. This protects not just yourself but the firm.
2. Enjoy your work
All updates fix minor issues like non-aesthetic or inappropriate forms of display. Major upgrades provide one, two or even more big enhancements in the form of features that previously required work-arounds, tedious effort or compromises.
3. Be more productive
Features are always developed with Dashflow’s core qualities in mind: ease of use, speed, intuitiveness, convenience, and flexibility. This means that new features typically make you more productive immediately.
4. Share effectively
Sharing with colleagues requires similar and preferably identical versions. That is only likely to be the case if everyone upgrades when they should.
Apple devices have an "Automatic Update" switch in the system settings which used to be OFF by default. In iOS13, it become ON by default. But this may change. It is worth checking out how your device is set.
1 . Reduce security vulnerabilities
Old versions of any software are always less secure. It’s in your best interest to have maximum security. This protects not just yourself but the firm.
2. Enjoy your work
All updates fix minor issues like non-aesthetic or inappropriate forms of display. Major upgrades provide one, two or even more big enhancements in the form of features that previously required work-arounds, tedious effort or compromises.
3. Be more productive
Features are always developed with Dashflow’s core qualities in mind: ease of use, speed, intuitiveness, convenience, and flexibility. This means that new features typically make you more productive immediately.
4. Share effectively
Sharing with colleagues requires similar and preferably identical versions. That is only likely to be the case if everyone upgrades when they should.
Apple devices have an "Automatic Update" switch in the system settings which used to be OFF by default. In iOS13, it become ON by default. But this may change. It is worth checking out how your device is set.
What if the Update has a Bug?
It might. Sometimes a new feature causes a malfunction in an old feature.
But all software has bugs: see User Advisory #2 above. So the best reply is “what about the bug in the existing version?” We test continually but it is always possible that glitches in a new version will get past our scrutiny. If that occurs, let us know and we can often fix it within 24-48 hours. Sometimes it may take longer. In any case, if you have followed your firm’s sensible back-up policies (see comments in User Advisory #4), then you should not have any serious problem.
There is another trick if you have two devices (e.g. an iPhone and an iPad, or a new and old iPhone) — which is permitted with a single subscription. Update one device and use it exclusively for a while to see if there are any issues. When satisfied, you can update your second device.
But all software has bugs: see User Advisory #2 above. So the best reply is “what about the bug in the existing version?” We test continually but it is always possible that glitches in a new version will get past our scrutiny. If that occurs, let us know and we can often fix it within 24-48 hours. Sometimes it may take longer. In any case, if you have followed your firm’s sensible back-up policies (see comments in User Advisory #4), then you should not have any serious problem.
There is another trick if you have two devices (e.g. an iPhone and an iPad, or a new and old iPhone) — which is permitted with a single subscription. Update one device and use it exclusively for a while to see if there are any issues. When satisfied, you can update your second device.
Screen Layouts that Look Wrong.
Another consequence of Apple’s plethora of devices and screen sizes is that layouts that look right on one device may not seem satisfactory on another. Every month you may notice that we provide display fixes.
We use a number of devices for live testing, but there are now so many models and so many screen varieties that most devices must be tested using Apple’s simulator. As you might expect in a software world, it turns out that Apple’s simulator is not perfect.
So if you are looking at a screen and something looks obviously wrong—perhaps the font is in bold when it shouldn’t be, or a field is partly off the screen or an image is fuzzy or labels overlap—then send Support a screenshot telling us the model of your device, and we will promptly investigate and fix it.
We use a number of devices for live testing, but there are now so many models and so many screen varieties that most devices must be tested using Apple’s simulator. As you might expect in a software world, it turns out that Apple’s simulator is not perfect.
So if you are looking at a screen and something looks obviously wrong—perhaps the font is in bold when it shouldn’t be, or a field is partly off the screen or an image is fuzzy or labels overlap—then send Support a screenshot telling us the model of your device, and we will promptly investigate and fix it.
Day-1 Lease Status and Other Issues
While lease start and expiry times are fixtures, the determination of Day-1 is in your hands. In some deals, your setting of Day-1 will determine whether or not a particular lease has expired or not.
Dashflow’s approach to this is to treat a lease expiry before Day-1, as no different in principle to an expiry after Day-1.
That means that the re-leasing assumptions specified in your default system will kick in. So this is another reason why you want to carefully specify your default assumptions in advance in SETTINGS > Default Management.
DashModel is a little different. It currently will not accept leases that expire before Day-1. You need to actually convert such leases to a Day-1 Vacancy or adjust their expiry dates so they fall after Day-1. Your knowledge of the property will tell you what is most appropriate.
More Day-1 Issues
Have you forgotten exactly what date you set as Day-1? You can find it in Deal Settings in SAVED DEALS. It is also shown (in very small type) next to the Y-Axis in PREVIEW.
Want to change Day-1? You can do that in the DashModel by changing the Buy date in the Executive Summary. In the app, change Day-1 in DEAL SETTINGS ... but be sure to read the advice note so you are aware of the implications.
Dashflow’s approach to this is to treat a lease expiry before Day-1, as no different in principle to an expiry after Day-1.
That means that the re-leasing assumptions specified in your default system will kick in. So this is another reason why you want to carefully specify your default assumptions in advance in SETTINGS > Default Management.
DashModel is a little different. It currently will not accept leases that expire before Day-1. You need to actually convert such leases to a Day-1 Vacancy or adjust their expiry dates so they fall after Day-1. Your knowledge of the property will tell you what is most appropriate.
More Day-1 Issues
Have you forgotten exactly what date you set as Day-1? You can find it in Deal Settings in SAVED DEALS. It is also shown (in very small type) next to the Y-Axis in PREVIEW.
Want to change Day-1? You can do that in the DashModel by changing the Buy date in the Executive Summary. In the app, change Day-1 in DEAL SETTINGS ... but be sure to read the advice note so you are aware of the implications.
DASHFLOW USER ADVISORY #6 Last checked November 2020. Originally published 2019.
Use Default Settings
Time spent on working out Dashflow requirements and values in SETTINGS > Defaults Management is well-worthwhile. This simple feature makes an enormous difference to efficiency and effectiveness.
We realize that all firms and many users are involved in deals in more than one district or region. With just one set of default values, this posed an issue for users as to what default values should be standard. West End, the City and Canary Wharf each have their differences, and Birmingham is not the same as Liverpool, nor are relevant values in Manhattan, Philadelphia and Washington DC identical. Conversions and new builds also make different demands. And perhaps you sometimes want a London deal done in USD rather than GBP or EUR.
To deal with these situations simply and quickly, Dashflow provides the option to maintain multiple systems of default values and select a preferred system in SETTINGS. You can also see the currently active system and change it at the time of creating a NEW DEAL.
Should a newly recruited analyst from the USA be left to set up their London City defaults? Or should they be handed a set ready-made by the in-house expert? Central control is in-built so that only authorized users can provide a definitive system of default values. Other users may import, and be expected to select, the system appropriate to the particular deal being appraised.
Firms with pre-defined systems of defaults, based on experience and local knowledge, will get efficiency savings and have more consistent and effective modelling. The ability to create and share a system of company default assumptions became available in v1.8.
We realize that all firms and many users are involved in deals in more than one district or region. With just one set of default values, this posed an issue for users as to what default values should be standard. West End, the City and Canary Wharf each have their differences, and Birmingham is not the same as Liverpool, nor are relevant values in Manhattan, Philadelphia and Washington DC identical. Conversions and new builds also make different demands. And perhaps you sometimes want a London deal done in USD rather than GBP or EUR.
To deal with these situations simply and quickly, Dashflow provides the option to maintain multiple systems of default values and select a preferred system in SETTINGS. You can also see the currently active system and change it at the time of creating a NEW DEAL.
Should a newly recruited analyst from the USA be left to set up their London City defaults? Or should they be handed a set ready-made by the in-house expert? Central control is in-built so that only authorized users can provide a definitive system of default values. Other users may import, and be expected to select, the system appropriate to the particular deal being appraised.
Firms with pre-defined systems of defaults, based on experience and local knowledge, will get efficiency savings and have more consistent and effective modelling. The ability to create and share a system of company default assumptions became available in v1.8.
Get Rid of Irritating Notices
Notices that seem so essential on first use of screen, can become extraordinarily irritating after the 50th use. While iOS makes it too hard to offer a tick box saying “do not show this again”, you can go to Preferences in SETTINGS. Tap on Optional Notices and you will see a list of notices that we currently imagine might be irritating. Each has their own button that switches the notice off (or on again). You are in control!
New features sometimes generate new notices and new warning pop-ups. So, if you find that any of these are irritating you, then just let us know and we can add a switch for that popup in Preferences.
New features sometimes generate new notices and new warning pop-ups. So, if you find that any of these are irritating you, then just let us know and we can add a switch for that popup in Preferences.
Tricks in Sharing
You Usually Share What You See: Many screens in the app have an Apple share icon. Some of those screens may also have button-controlled drop-downs that reveal information or tables or graphics. When you share such a screen, you only create a picture file containing what is shown on the screen. In other words, you share what you see. You do not share any functionality and the recipient cannot get access to hidden information.
BUT for Reports (e.g. of Costs) in the Valuation screens, sharing generates the full report including what is not visible.
The WhatsApp Trick: To share jpeg files like screenshots and Investment Highlights, you must use “Copy to Whatsapp”, and not “Whatsapp”.
The Outlook Trick: If you use Outlook for your email, you get a pre-drafted email with “Outlook”. So avoid “Copy to Outlook”.
The Airdrop Trick: When receiving an Airdrop of a deal from another device, it is saved directly into Dashflow’s SAVED DEALS. When your Mac/PC receives an Airdrop it typically goes into Downloads. Airdrop is great to move deals instantly between your iPhone and iPad.
BUT for Reports (e.g. of Costs) in the Valuation screens, sharing generates the full report including what is not visible.
The WhatsApp Trick: To share jpeg files like screenshots and Investment Highlights, you must use “Copy to Whatsapp”, and not “Whatsapp”.
The Outlook Trick: If you use Outlook for your email, you get a pre-drafted email with “Outlook”. So avoid “Copy to Outlook”.
The Airdrop Trick: When receiving an Airdrop of a deal from another device, it is saved directly into Dashflow’s SAVED DEALS. When your Mac/PC receives an Airdrop it typically goes into Downloads. Airdrop is great to move deals instantly between your iPhone and iPad.
How to Print Out those Import Warnings
Have you tried the memo facility provided for each deal? It is accessed via SAVED DEALS and lets you generate both notes just for yourself (i.e. they do not get shared with others when a deal is exported), and public notes that are automatically shared.
You can create notes easily and super-quickly using voice entry. All public notes can be re-named by opening and selecting the title. Dashflow also uses this screen to store information for you e.g. if you imported a deal, a list of messages relevant to the import data will be stored here under “Import Warnings”.
You might want to print out those Warnings for reference. If so, select all the text to bring up various options. Find and tap «Share….» to open the Apple Uploader—which contains a print icon. Just tap that icon and print your Warnings.
You can create notes easily and super-quickly using voice entry. All public notes can be re-named by opening and selecting the title. Dashflow also uses this screen to store information for you e.g. if you imported a deal, a list of messages relevant to the import data will be stored here under “Import Warnings”.
You might want to print out those Warnings for reference. If so, select all the text to bring up various options. Find and tap «Share….» to open the Apple Uploader—which contains a print icon. Just tap that icon and print your Warnings.
DASHFLOW USER ADVISORY #7 Last checked November 2020. Originally published 2019.
Start Using Voice Entry
By using Dashflow you have said good-bye to the mouse as an intermediary between you and what you want to happen. But perhaps you have not yet said good-bye to the keyboard. You should.
By entering text via your spoken voice you will move up to the next level in convenience, efficiency and speed. What’s holding you back? Probably habit. And it feels strange to talk to a device.
All Apple keyboards now come with a microphone icon. You can test the voice transcription feature out with your text messages. You will be absolutely amazed at the accuracy. You can even speak punctuation, symbols and even some smileys—see a full list here.
Try using voice entry in Dashflow for your memos, for addresses, for names and more.
By entering text via your spoken voice you will move up to the next level in convenience, efficiency and speed. What’s holding you back? Probably habit. And it feels strange to talk to a device.
All Apple keyboards now come with a microphone icon. You can test the voice transcription feature out with your text messages. You will be absolutely amazed at the accuracy. You can even speak punctuation, symbols and even some smileys—see a full list here.
Try using voice entry in Dashflow for your memos, for addresses, for names and more.
Saving
Perhaps you have worked it out already, but you must know that every value is automatically saved once entered. You only use the Confirm or Cancel buttons when you want to leave the screen.
If a screen has multiple parameters laid out in rows whose values interact, e.g. CAPEX PROJECTS, there is no need to save or confirm as you change values in each row. The row values dynamically adjust to whatever value is entered in other rows. However, when you leave that screen you are asked to “Confirm” that you want everything saved. Or you are given the option to “Cancel”, which returns everything to the state it was before you entered the screen.
This feature is particularly relevant in screens like PRICING & COSTS and TENANCY LIFECYCLES, where there are several panes that may interact with each other. You can make lots of changes in several different panes. Changing between panes to do so does not result in the loss of data in other panes. When you leave that screen, all those changes in all the panes are permanently fixed by tapping Confirm (or all are cancelled if you tap Cancel).
By the way, if any warning popup about saving when leaving a screen irritates you, turn it off in SETTINGS > PREFERENCES.
A related saving feature is provided in the Tenure pane of PRICING & COSTS. If you enter ground rents or % of rents, and then switch off the “Long Leasehold” switch, the app removes those Tenure costs from calculations. But if you then switch “Long Leasehold" back on again, you will see that all your previous values will still be there. Those values are instantly applied to the model and affect all relevant screens.
If a screen has multiple parameters laid out in rows whose values interact, e.g. CAPEX PROJECTS, there is no need to save or confirm as you change values in each row. The row values dynamically adjust to whatever value is entered in other rows. However, when you leave that screen you are asked to “Confirm” that you want everything saved. Or you are given the option to “Cancel”, which returns everything to the state it was before you entered the screen.
This feature is particularly relevant in screens like PRICING & COSTS and TENANCY LIFECYCLES, where there are several panes that may interact with each other. You can make lots of changes in several different panes. Changing between panes to do so does not result in the loss of data in other panes. When you leave that screen, all those changes in all the panes are permanently fixed by tapping Confirm (or all are cancelled if you tap Cancel).
By the way, if any warning popup about saving when leaving a screen irritates you, turn it off in SETTINGS > PREFERENCES.
A related saving feature is provided in the Tenure pane of PRICING & COSTS. If you enter ground rents or % of rents, and then switch off the “Long Leasehold” switch, the app removes those Tenure costs from calculations. But if you then switch “Long Leasehold" back on again, you will see that all your previous values will still be there. Those values are instantly applied to the model and affect all relevant screens.
Swipe to see an Obscured Deal Name
In SAVED DEALS, if you swipe to the right over a long and obscured deal name, the full deal name pops up in a grey box above your finger and is easily read.
If you need to see it more clearly, you can slide your finger on the screen and out of the way. In this case, the moment you remove your touch, the popup vanishes.
If you need to see it more clearly, you can slide your finger on the screen and out of the way. In this case, the moment you remove your touch, the popup vanishes.
New Gestures: Touch-and-Hold & Long Press
The “touch-and-hold” and "long press" are two related gestures we have introduces so that you can access two functions in one blue active text or button. Tapping does one thing, and the new gesture does another.
In the CASH FLOW screen, you used to tap and be forced to go via ASSUMPTIONS & OUTCOMES to those screens where you could be more precise. Then you had to reverse that process so as to get back to the CASH FLOW to see the effect. Now, a "long press" can save you that lengthy journey. You go to the new screen instantly, and when you close the new screen you come straight back to CASH FLOW.
In "long press", nothing happens until you remove your finger from the screen.
In the CASH FLOW screen, you used to tap and be forced to go via ASSUMPTIONS & OUTCOMES to those screens where you could be more precise. Then you had to reverse that process so as to get back to the CASH FLOW to see the effect. Now, a "long press" can save you that lengthy journey. You go to the new screen instantly, and when you close the new screen you come straight back to CASH FLOW.
- In CASH FLOW, try this on the CASH OUT value and you are immediately taken to the VALUATIONS screen. Try it on the NIY/Cap R value and you are taken to the DEAL SETTINGS screen where you alter your capitalisation preference. Try it on CAPEX and you are sent to CAPEX PROJECTS screen. Try it on Annual Yield and you are sent to YIELD ANALYTICS to see Equivalent Yield and more.
- In LEASING DETAILS, if you activate Zoom and touch-and-hold the Unit, then you change the screen state and the background goes green. You can then add that Unit (together with any others that you tap on) to an existing Lease.
- In LOCATION, if you touch-and-hold on the place in the 3-D map where you want the address pin to be sited, the pin will move there.
- Touch-and-hold is also used for moving items by dragging. This allows you to position the floating data entry box in FOOTPRINTS and in TENANCY LIFECYCLES.
In "long press", nothing happens until you remove your finger from the screen.
- Try this on the Buy and Sell Circles. If a price is showing, when you lift your finger you go to PRICING & COSTS. If the LTV is showing, lifting your finger sends you to DEBT FACILITIES.
- "Drag-and-drop" uses this function. To move a deal file to a folder in SAVED DEALS, long press the deal row and drag: then, when you are on the desired folder, lift your finger. Lifting allows the “drop” part of this “drag-and-drop” facility. If you have multiple systems of default values in DEFAULTS MANAGEMENT and tap on edit, a triple bar icon appears at the end of each row and allows you to move any particular system by pressing, dragging and then dropping.
DASHFLOW USER ADVISORY #8 Last checked November 2020. Originally published 2020.
iOS Upgrades
As you may be aware, Apple’s latest iOS13 upgrade was very buggy. Apple made many surprising changes under the hood, which played havoc with well-functioning apps like Dashflow. Not surprisingly, Apple was forced to release many versions within the initial weeks. We released an iOS13-compatible version of Dashflow once Apple stabilized their iOS at v13.2.3.
As a general rule, all users should upgrade to the latest iOS and the latest Dashflow version. However, the pattern of Apple’s OS system changes causing minimal disruption is now broken. We must therefore advise users to delay upgrading to a new OS (e.g. from iOS14 to iOS15) until we have tested the app with the new OS. If there are issues, we will email warnings and an “all clear” and release a special compatible version as appropriate.
One alternative is to use the strategy we advise for our own upgrades (see User Advisory #5). Have two devices and keep one device with the tried and trusted OS while trying the other with the new OS. But note that you are much safer with upgrades within an iOS e.g. from v13.3 to v13.3.1 because these typically fix errors in the OS.
As a general rule, all users should upgrade to the latest iOS and the latest Dashflow version. However, the pattern of Apple’s OS system changes causing minimal disruption is now broken. We must therefore advise users to delay upgrading to a new OS (e.g. from iOS14 to iOS15) until we have tested the app with the new OS. If there are issues, we will email warnings and an “all clear” and release a special compatible version as appropriate.
One alternative is to use the strategy we advise for our own upgrades (see User Advisory #5). Have two devices and keep one device with the tried and trusted OS while trying the other with the new OS. But note that you are much safer with upgrades within an iOS e.g. from v13.3 to v13.3.1 because these typically fix errors in the OS.
Importing from a PDF Brochure
Our DF Converter app has changed the game. You can now use this app to convert a PDF tenancy schedule to an Excel file with a few taps. You look at the xlsx rent roll and it seems OK, but when you try to import into Dashflow, it fails totally. Why?
The reason is that a PDF-generated xlsx file is not the same as a fresh xlsx file. The pdf page that is converted generates all sorts of extraneous information and formatting, often not even visible but present nevertheless inside the xlsx file. This can easily interfere with the importing process.
The solution is to take the first step in cleaning the file seriously. No matter how normal the file looks, make it 100% clean as described in the Guide. This means removing every irrelevant row and column so as to end up with a simple matrix of tenant lease information in rows and columns (and without any merged cells). Of course, the next step where you check data is important too, because Dashflow will otherwise import faulty data.
The reason is that a PDF-generated xlsx file is not the same as a fresh xlsx file. The pdf page that is converted generates all sorts of extraneous information and formatting, often not even visible but present nevertheless inside the xlsx file. This can easily interfere with the importing process.
The solution is to take the first step in cleaning the file seriously. No matter how normal the file looks, make it 100% clean as described in the Guide. This means removing every irrelevant row and column so as to end up with a simple matrix of tenant lease information in rows and columns (and without any merged cells). Of course, the next step where you check data is important too, because Dashflow will otherwise import faulty data.
Sharing Different File Types
The Apple Uploader offers different options depending on the file-type of the shared item. The user-interface of the uploader changed between iOS12 and iOS13 and you can find details about this here. We have provided for Copy to Dashflow or Copy to DF Converter to appear in the Action list without any effort on the user’s part.
Apps that may be useful for your work include: Airdrop, Messages, Skype, Mail, Whatsapp, Copy to Whatsapp, Copy to Dropbox, OneDrive, Copy to OneDrive, Copy to Documents, Copy to Goodreader, Copy to OneNote, Notes, Drive. In our Advisory #6, we explained that you get the best result from using either Mail or Outlook (but not Copy to Outlook). You are also generally better off choosing OneDrive rather than Copy to OneDrive.
Here, we want to say more about the file-type that you are sharing, explaining the impact of that file format on the uploader/sharing options presented to you.
JPEG files uniquely offer Copy to Whatsapp as well as Whatsapp. For obscure reasons, screenshots like Investment Highlights must use Copy to Whatsapp.
XML files can be handled by most uploader options for storage or onward distribution—but only MS-Office on your laptop/desktop will enable you to read the file. Asset & Deal Info is opened by MS-Word and DashModel is opened with MS-Excel. Note that MS-Office for iOS (i.e. on your iPad) does not open XML files. The other sharing options keep the xml contents hidden, but some, like Whatsapp and Copy to Documents show you the xml text—which can be a bit disconcerting. And Drive will tell you that the XML format is “unsupported”. But such a file can still be safely moved to your desktop computer and opened by the appropriate application.
MS-Office files are easy to handle. You can specify DashModel to be created as an .xlsx file (instead of .xml) so it opens on your iPad. Dashflow’s Raw Tenancy Schedule can also be opened and edited on the iOS Device in Excel, Sheets or Numbers. For Whatsapp, the sender sees the spreadsheet neatly, and the recipient can tap on the file to see it too, but cannot edit. Dashflow’s Powerpoint presentation can be opened and edited in Powerpoint.
The Deal file. This file format, .dfd, can only be opened by Dashflow. However, most uploader options will send or store the file. Again, you can use Whatsapp because the file is preserved in a shareable form. Anyone who receives the file can then open it using the Copy to Dashflow option in the Uploader.
Apps that may be useful for your work include: Airdrop, Messages, Skype, Mail, Whatsapp, Copy to Whatsapp, Copy to Dropbox, OneDrive, Copy to OneDrive, Copy to Documents, Copy to Goodreader, Copy to OneNote, Notes, Drive. In our Advisory #6, we explained that you get the best result from using either Mail or Outlook (but not Copy to Outlook). You are also generally better off choosing OneDrive rather than Copy to OneDrive.
Here, we want to say more about the file-type that you are sharing, explaining the impact of that file format on the uploader/sharing options presented to you.
JPEG files uniquely offer Copy to Whatsapp as well as Whatsapp. For obscure reasons, screenshots like Investment Highlights must use Copy to Whatsapp.
XML files can be handled by most uploader options for storage or onward distribution—but only MS-Office on your laptop/desktop will enable you to read the file. Asset & Deal Info is opened by MS-Word and DashModel is opened with MS-Excel. Note that MS-Office for iOS (i.e. on your iPad) does not open XML files. The other sharing options keep the xml contents hidden, but some, like Whatsapp and Copy to Documents show you the xml text—which can be a bit disconcerting. And Drive will tell you that the XML format is “unsupported”. But such a file can still be safely moved to your desktop computer and opened by the appropriate application.
MS-Office files are easy to handle. You can specify DashModel to be created as an .xlsx file (instead of .xml) so it opens on your iPad. Dashflow’s Raw Tenancy Schedule can also be opened and edited on the iOS Device in Excel, Sheets or Numbers. For Whatsapp, the sender sees the spreadsheet neatly, and the recipient can tap on the file to see it too, but cannot edit. Dashflow’s Powerpoint presentation can be opened and edited in Powerpoint.
The Deal file. This file format, .dfd, can only be opened by Dashflow. However, most uploader options will send or store the file. Again, you can use Whatsapp because the file is preserved in a shareable form. Anyone who receives the file can then open it using the Copy to Dashflow option in the Uploader.
Run-off Leases
You may want to insert lease details for a new lease that starts several months after Day-1 of the deal, even though that unit has a lease in place with some months to run i.e. a run-off lease.
To handle this, ignore the run-off lease in LEASING DETAILS or, if you imported a rent roll, delete that lease. Go ahead and insert the new lease details with its starting date after Day-1. The leasing info table allows you to provide for any refurbishing between the run-off and the new lease, as well as rent-free periods and more.
Then use the OTHER INCOME screen and category Run-off Rent. You have two options: lump or stream. If you create a lump, then you can set as many payments as you want. Whatever “run-off rent” income (stream or lump) occurs in Q1 will be added to determine your Day-1 yield calculations: in both the App and the DashModel.
This system will also work if you need to have the whole property emptied after, say 2 years, for a major 12 months Capex project. In this case, all initial leases are entered via OTHER INCOME and in the LEASING DETAILS you show leasing proper occurring at Year-3.
To handle this, ignore the run-off lease in LEASING DETAILS or, if you imported a rent roll, delete that lease. Go ahead and insert the new lease details with its starting date after Day-1. The leasing info table allows you to provide for any refurbishing between the run-off and the new lease, as well as rent-free periods and more.
Then use the OTHER INCOME screen and category Run-off Rent. You have two options: lump or stream. If you create a lump, then you can set as many payments as you want. Whatever “run-off rent” income (stream or lump) occurs in Q1 will be added to determine your Day-1 yield calculations: in both the App and the DashModel.
This system will also work if you need to have the whole property emptied after, say 2 years, for a major 12 months Capex project. In this case, all initial leases are entered via OTHER INCOME and in the LEASING DETAILS you show leasing proper occurring at Year-3.
DASHFLOW USER ADVISORY #9 Published 9-October 2020
Save Money on Apple Devices
Dashflow does need a recent iOS, preferably the latest, but this does not mean that it needs the latest Apple device. No less than 7 iPad models from 2017 (5th Generation) onwards are safe to use and fast enough. Apple’s latest iPhone 12 is great and yet the iPhone 6S still runs Dashflow well. The only caveat here are the compact SE iPhones, which have a screen that is really too small for comfort.
Apple devices are so convenient that they are easy to lose, drop, break, or get stolen. And the more sophisticated and glitzy the device, the more likely it is to get stolen.
So we advise that, all things considered, you purchase cheaper slightly older devices. Also, recognize that the smallest storage will be sufficient--at least for Dashflow. Buying devices second-hand from Apple or a reputable refurbisher will save you even more money.
That means you can be up-and-running with Dashflow for less than the cost of 1 month’s subscription. More importantly, device loss is not a financial disaster.
For more details of likely usable iPhones and iPads under iOS 14, see: https://www.macrumors.com/2020/01/27/ios-14-to-support-same-iphones-as-ios-13/
Apple devices are so convenient that they are easy to lose, drop, break, or get stolen. And the more sophisticated and glitzy the device, the more likely it is to get stolen.
So we advise that, all things considered, you purchase cheaper slightly older devices. Also, recognize that the smallest storage will be sufficient--at least for Dashflow. Buying devices second-hand from Apple or a reputable refurbisher will save you even more money.
That means you can be up-and-running with Dashflow for less than the cost of 1 month’s subscription. More importantly, device loss is not a financial disaster.
For more details of likely usable iPhones and iPads under iOS 14, see: https://www.macrumors.com/2020/01/27/ios-14-to-support-same-iphones-as-ios-13/
Rectifying an Imported Stacking Plan
You will have noticed that the Stacking Plan often looks upside down, with the Ground Floor at the top and the Top Floor as the Ground. This occurs because Dashflow reads the Tenancy Schedule row by row, and allocates from the Ground up. Because many, even most, Tenancy Schedules show the top floor in the top row and work downwards, the result is an upside down graphic.
There is a simple solution. Following a successful import, immediately export the Raw Tenancy Schedule. This Excel file follows the convention and puts the top floor in the top row. But the top floor is the ground floor! So when you re-import it into Dashflow, everything is rectified. Of course, this only works 100% when there is 1 Tenancy on each Floor.
If an accurate graphic is important for you, be assured that we will very soon release a version enabling you to import a single office tower or multiple building retail park more precisely.
There is a simple solution. Following a successful import, immediately export the Raw Tenancy Schedule. This Excel file follows the convention and puts the top floor in the top row. But the top floor is the ground floor! So when you re-import it into Dashflow, everything is rectified. Of course, this only works 100% when there is 1 Tenancy on each Floor.
If an accurate graphic is important for you, be assured that we will very soon release a version enabling you to import a single office tower or multiple building retail park more precisely.
Discrepancies in Annual Yields
There is often a small discrepancy between the average yield over the holding period as calculated in the App and in DashModel. However, we now provide yearly cash-on-cash yields in the Executive Summary worksheet of the DashModel and these can be compared to the yearly yields at the bottom of the app’s CASH FLOW screen.
While the app calculates both lease expiry of initial leases and re-leasing using days, the DashModel calculates lease expiry via days and re-leasing via months. The DashModel re-lease is always set to be the 1st of the month, and the consequence of this rounding is the creation of a “dead time zone” between the actual expiry and the postulated renewal.
Although the effect of this on an ungeared IRR is normally trivial, perhaps 3-5 bps in the most aggravating of circumstances, the effect on a yearly yield can be significant under certain circumstances. For example:
Of course, all these factors are liable to be amplified in a geared deal.
We intend to re-code timings around expiry so as to improve the DashModel calculations for annual average yields. For now, send us deals where the discrepancy is large and concerning for you: this feedback helps us prioritize development.
While the app calculates both lease expiry of initial leases and re-leasing using days, the DashModel calculates lease expiry via days and re-leasing via months. The DashModel re-lease is always set to be the 1st of the month, and the consequence of this rounding is the creation of a “dead time zone” between the actual expiry and the postulated renewal.
Although the effect of this on an ungeared IRR is normally trivial, perhaps 3-5 bps in the most aggravating of circumstances, the effect on a yearly yield can be significant under certain circumstances. For example:
- when the dead zone tips into the next quarter (as well as into the next month), OPEX and CAPEX deductions become more significant;
- when the year contains only 1 or 2 quarters, then the “average” may be affected by an abnormal quarter;
- the length of the dead zone can create an impact if multiple leases behave identically.
Of course, all these factors are liable to be amplified in a geared deal.
We intend to re-code timings around expiry so as to improve the DashModel calculations for annual average yields. For now, send us deals where the discrepancy is large and concerning for you: this feedback helps us prioritize development.
Dealing with Weird Disparities
Now and then you find something really weird, something that should be impossible: two leases on the same Unit, or profitability parameters in PREVIEW wildly different to the CASH FLOW screen.
Frankly, we rarely can work out how and why such things happen. But we can fix them. Actually, you can often fix them—and without calling support. You do this by simply forcing Dashflow to do a few re-calculations of the data. Here are the instructions for this:
When you look again, the problem should either have vanished entirely, or you can take actions (that were previously blocked) to solve the problem.
But there are two more things you should do back in SAVED DEALS:
A. Delete the original weird deal file because it is useless clutter
B. Rename the new deal file because long deal names look messy in screens.
Of course, if this doesn’t fix matters, then you should send the deal to us for further investigation.
Frankly, we rarely can work out how and why such things happen. But we can fix them. Actually, you can often fix them—and without calling support. You do this by simply forcing Dashflow to do a few re-calculations of the data. Here are the instructions for this:
- Go to SAVED DEALS and tap on Deal Settings.
- Tap on the Day-1 date and re-set it to the same Day-1 as before.
- Open the newly created deal in CASH FLOW — that is one re-calculation.
- Change the hold term by 1 or 2 years and then change it back to where you started —those are two more re-calculations.
When you look again, the problem should either have vanished entirely, or you can take actions (that were previously blocked) to solve the problem.
But there are two more things you should do back in SAVED DEALS:
A. Delete the original weird deal file because it is useless clutter
B. Rename the new deal file because long deal names look messy in screens.
Of course, if this doesn’t fix matters, then you should send the deal to us for further investigation.
