Lot Types

Under Project Settings on the Set Up tab Blueprint projects can be configured with "Lot Type". This is more than just a button but is a really important indicator of what business line the project is a part of of and impacts how the project will function. 

What do Lot Types mean?

This may be somewhat self explanatory but the Lot Type had to do with what business line at Homebound the project is a part of. I have attempted to define them a bit here:

• Build on your lot (BOYL) - These are mostly disaster projects where Homebound is rebuilding a "Homeowner's" home that was damaged or destroyed in a disaster. The Homeowner owns the lot through the project
• Build on our lot (BOOL) - These are projects and/or lots that Homebound has acquired with the intent to build a home and then sale the home
• HBL - These are projects are part of our Lux line of the business
• Build to rent (BTR) - These are projects that are in general intended to be rented and would be acquired by Homeboound
• Fee build (FEE) - Here Homebound is only acting as the builder in partnership with another entity

What do Lot Types do in Blueprint?

The Lot Type selected has an impact on how the Blueprint project will function. This in addition to being able to filter by "Lot Type" from the main projects search page. Below I have outlined some:

How do Invoices appear in Blueprint?

• Build on your lot (BOYL) - H/O Invoices
• Build on our lot (BOOL) - PropCo Invoices 
• HBL - H/O Invoices
• Build to rent (BTR) - Invoices
• Fee build (FEE) - Invoices

Note: BOOL Invoices are automated

How do Contracts appear in Blueprint?

• Build on your lot (BOYL) - Contracts
• Build on our lot (BOOL) - Obligation Documents
• HBL - Contracts
• Build to rent (BTR) - Contracts
• Fee build (FEE) - Contracts

Differences on the Budget Page

• Build on your lot (BOYL) - Revenue and Margin show on the top of the Budget page and shows "Original Budget" in the first column (Example Above)
• Build on our lot (BOOL) - Only "Budget Variance" shows as "Hero Metric" and use "Underwritten Budget"
• HBL - Revenue and Margin show on the top of the Budget page and shows "Original Budget" in the first column
• Build to rent (BTR) - Revenue and Margin show on the top of the Budget page and shows "Original Budget" in the first column
• Fee build (FEE) - Revenue and Margin show on the top of the Budget page and shows "Original Budget" in the first column

Change Events

• Build on your lot (BOYL) - Change Event defaults to Non H/O Chargeable or Internal
• Build on our lot (BOOL) - Change Event defaults to H/O Chargeable or External
• HBL - Change Event defaults to Non H/O Chargeable or Internal, HBL also had different approval thresholds. See this article for more detail on approvals
• Build to rent (BTR) - Change Event defaults to H/O Chargeable or External
• Fee build (FEE) - Change Event defaults to H/O Chargeable or External

Schedule

If the project is BOYL users will be notified if the Pre-Con and Construction schedules are out of sync even if the construction schedule is active. For BOOL, BTR and Fee this is only true if the schedules are in a Draft state. For more on this Sync see this article

Note: This list is not comprehensive there are other minor impacts to a project but I have left those out to keep the article readable

Questions? Feedback? Email us at Product-Support@Homebound.com or chat with us in Blueprint!