Property Investor Adopts Property Management Software, Alphaletz, to Improve Efficiency & Expand Business
Moving from a paper-based system to an on-line management system has helped landlord and property investor, Matt Booth, save valuable admin time, improve efficiency, and stay compliant.
Starting his buy-to-let business 20 years ago, Matt is now a full-time property manager with 45 rental properties, and an additional complementary business buying and selling property.
Matt started his buy-to-let property portfolio while working in an estate agency. When his portfolio reached 15 properties, Matt made the decision to leave his day job to concentrate on managing the properties full time, removing the need for a managing agent.
“When the agent management fees were almost as much as I was earning, it was time to leave my job and manage the properties myself. My intention is to either sit tight with my existing portfolio or expand by adding more properties to-let or flipping properties.”
Like many landlords Matt managed his properties by pen, paper, and calculator. With a mix of physical folders and spreadsheets, finding information and understanding what needs to be actioned each day can be time consuming.
“With 45 properties, I’m at the stage where I had to move to some sort of software system. I know I will find it harder to keep track of compliance and rent arrears as my portfolio grows.”
Choosing a Software Solution
“After reviewing other software options, we felt Alphaletz was more geared to landlords with the ability to track compliance and safety certificates, such as gas and EPCs. Plus, it’s got everything I need to run the admin side of my business.”
Matt’s decision to move to a property management software solution was to address the following challenges:
- Reduce paperwork and admin time
- Stay compliant
- Become more efficient
- Have access from anywhere
“I like that I will have what I need to do in front of me as I log in each morning. I can’t escape it! If I have a gas certificate renewal, the reminder will be there every day until I do something about it. It will keep me compliant.”
On average Matt spends 3-4 hours a day in his office over 3-4 days a week. By gradually moving information from his paper files to his Alphaletz account, Matt anticipates a reduction in admin time by a couple of hours per day. That’s up to 50% of admin time saved.
“My hope is that Alphaletz makes me more efficient and will save me time on the admin side so that I can focus on expanding my business.”
Matt’s plan is to flip three properties per year as another stream of income.
“I want more time to promote my business, The Stoke Property Buyer, and generate queries for people that want a quick sale.”
Matt has seen an influx of property investors in his area. The opportunity to find properties at a competitive price has been reduced so finding ways to run a more efficient business is even more important.
If you’d like to try Alphaletz for free, you can create an account for your first unit or property here.