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Why Landlord Software / Property Management Software?

 

Get better organised today and move away from time-consuming, ever changing spreadsheets or paper based management systems.


The economic downturn is preventing an increasing number of landlords from buying more property. This has provided the vast majority of landlords with a timely opportunity to get their 'property house' in order.
 
What this means is that those who are serious about growing and managing their portfolio are spending more time now on implementing the right processes and systems so that they can better manage their property business, and  fine-tune it so they are making maximum profits!
 
Below are just a few reasons how the right landlord software can help you to get better organised, boost your profitability and help you to sleep soundly at night.

Sleep Soundly at Night Knowing You are on Top of Your Landlord Obligations

No doubt you will be well aware that the obligations for a landlord are ever increasing. For example, you need to ensure that when managing your properties you don't forget to:

  • Register your tenant’s deposit with a tenancy deposit scheme
  • Implement or renew the safety certificates (e.g. gas, electrical etc.)
  • Renew the insurance policies on the property (e.g. Building, contents, maintenance etc.)
  • Renew you fixed, tracker or discounted mortgages before they expire
Use landlord software to set up all of your policies, insurances, safety certificates and any other reminders to help you can sleep soundly at night, knowing that you are fulfilling all of your landlord obligations.

Identify Instantly How Much Money You Are Making (or Losing)!

No doubt the single biggest reason that you have become involved in property is to make money; either to supplement your other income or to help you attain financial freedom.

Property management software will help you to:

  • Track your rental income and minimise voids
  • Reduce your expenditure
  • Pinpoint poor performing properties (e.g. those with low yields)
  • Manage your cashflow

Having fast and instant access to all this information is guaranteed to help you improve your profitability and add £££££s to your bottom line!

Reduce Your Professional Fees

There is no doubt that landlord software will help you minimise the fees that your accountant or solicitor charge you. For example, one-touch financial reports will give your accountant all the information they need to prepare your annual property accounts, or you can simply produce them yourself and use your accountant in an advisory role.

The same can be said for your solicitor’s fees; software which already has all the relevant landlord legal documents (e.g. Assured Shorthold Tenancy Agreements, Section 21 and Section 8 notices etc.) will allow you to automatically generate these at the touch of a button thus reducing the need of a solicitor!

Either way, you will be able to dramatically reduce these fees.

0% ongoing Letting Agency Fees!

One of the biggest gripes that landlords have is that letting agents charge too much for what they do. As property management software has evolved, much of the ongoing duties, such as issuing legal documents, chasing rents, renewing the policies etc., can be triggered by a simple one-touch report.

Therefore, it is no surprise that more and more landlords are using letting agents as a one-off to find the initial tenants, and then using good property management software to manage their own properties thereafter. After all, saving up to 15% of your rental income on letting agents’ fees can only help increase your profits.

Better Organisation Means More Time to Do What You Want, When You Want - With One System, One Solution!

No doubt as your property business has evolved you now have a number spreadsheets, Outlook or phone reminders and maybe even part-paper based solutions.

Well, you can put all those to bed now as everything you need to know can be entered into one software system as opposed to entering different things onto different systems, saving you save time, money and effort.

No need to use multiple spreadsheets, paper-based accounts or a combination of both! The right landlord software will help you to dramatically slash the time you spend reconciling information.