You’ve seen it all over social media, in the news and all the other Landlords are all talking about it
Property Manager Apps are taking the property industry by storm and for good reasons.
Below, we’ll be talking about Landlord Software.
We’ll also be discussing what it’s being used for and more importantly, why Landlords are using it.
So, let’s not waste any more of your precious time and dive straight into the article!
1. They remove the need for spreadsheets
Slow, clunky and outdated. The need for spreadsheet software is no longer present in the modern landlord and we’re glad!
Spreadsheets can be detrimental because…
- Security features aren’t present, meaning they can be easily accessed by spying eyes.
- They can be deleted, misplaced, overwritten or corrupted.
- Sharing them with others (with the exception of Google Sheets) is difficult!
- They’re incredibly feature limited.
- Human errors can happen.
2. You become more efficient
The correct property management app enables you, as a Landlord, to equip yourself with incredibly powerful time-saving tools.
They’re more innovative and feature rich than traditional means like electronic databases, spreadsheets or paper based systems.
Some landlord apps allow you to automate certain aspects of your business, whether it’s task management, rent reminders or rental tracking, meaning you can get more done in less time.
Also, features like Open Banking can potentially help you save thousands on accountancy bills.
3. You can access your portfolio from anywhere
Cloud-based property software like Alphaletz also equip Landlords with a mobile app too!
This means that no matter where you are, your information can be accessed within seconds and in a more digestible format than a spreadsheet/paper-based system.
This means you’re not chained to a desktop/laptop any longer and you can now manage your investments whilst on the go.
4. Making Tax Digital 2024
As of April 2024, Landlords will be expected to create and store records of each of your business transactions in a digital format thanks to Making Tax Digital 2024.
So, for some Landlords, moving from pen and paper is no longer a choice, but a requirement!
Compliance with new legislation is something that every Landlord should be concerned about.
Landlord apps can alleviate this stress by adding new features and legislative requirements to their software, as and when they’re needed.
5. Data can be easily extracted from Landlord Software
With older systems, collaborating and analysing critical information from data can be time consuming and arduous.
You’ll often miss out on insights that could potentially save you thousands of pounds in the long run.
Most property tech (by default) includes complex reporting systems that can provide incredibly easy-to-read snapshots on things like portfolio performance, expense reports and so much more!
6. It's easier to store documents online!
Let’s talk EICRs, Gas Safety Certificates, How-to-Rent Guides or other documents that you need to keep hold of when you’re a Landlord.
Storing these documents in person or in a complex filing system can often lead to frustration when it comes to finding them later on.
Some property management apps allow you to find documents paired against a particular property in just a couple of clicks, meaning that locating certain certificates or reports is easier than ever before.
On top of that, keeping documents in paper based formats isn’t really a good idea either, as these are easily lost, compromised or destroyed in case of emergencies.
7. Task management becomes a breeze
Keeping up with maintenance, compliance and other areas of your busy day-to-day life can become a struggle if you’re not using the right tools.
Task management systems can help you stay on top of important tasks and with ease, too.
A simple, well formatted dashboard can help you understand which tasks are upcoming and can also help you sort them by importance, avoiding tenant dissatisfaction and harsh penalties for non-compliance.
So... Are property management apps worth trying?
1000s of Landlords globally are moving their portfolios to better systems for the sake of saving time & money. Why not join them and discover the power of Landlord Software?