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haf1963

Property management software

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I am 2 years into property with 7 houses and a limited company. I have been using spreadsheets to manage the portfolio but its getting more and more complicated with tenant stuff, property stuff, finance stuff, tax stuff, etc so I am looking to fin some good software that can make life easier. I've done some research and come across products like propertyhawk, buildium, rent manager, etc but would appreciate peoples thoughts on what software would suit me without costing a fortune. I am pretty tech savvy so happy to have something that can be customised. I am also starting to get used to the idea of cloud based s/w so happy to look in that direction.

Thanks,

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I've done some googling and reading of reviews and decided to do a trial of a couple and get a proper feel for how they work. I am startting with Smart Property Manager and will also look at Property Hawk PM3. A couple of others like arthuronline and landlord vision seem overkill for me given my small portfoliio.

My concern about property hawk is that their last update was in 2014 so not sure if they will be a good long term investment

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For accounting software which will take care of most of it I cannot recommend Xero highly enough.

There is also an add on app called Re-Leased:

 

http://re-leased.com/

 

Haven't tried it yet but plan to, both are on cloud, use Xero for my own business and love it, you can get live bank feeds, it will do your accounts and you can separate transactions by 'site' ie property. Makes it easy to claim all your expenses too

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I have a similar sized portfolio to you haf1963 and i'd highly recommend Landlord Vision which I've been using for a couple of years. It's cloud based subscription software which allows you to create different portfolios for different scenarios such as personal owned / ltd company , overseas properties etc. The reporting is very good which include cash flow / profit & loss / broker summary / tenant reports  and a good income tax report. Over features i find useful is the calendar and weekly alerts and key management. If you self manage theirs a direct debit facility  They've recently added a tenant module so tenants can report problems, view statements etc via aikidesk. If you want to test it I think you can have up to three tenancies for free (but with limited function).  

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Hi - If your an NLA member you can use NLA rent manager for free. I did use it for a while and thought it did the job well, however I have been passing my properties over to a letting agent so have stopped using it. However I would highly recommend being a member of the National Landlords Association anyway ( if your not already ) - I think just for their  telephone advice line alone makes it value for money - so the rent manager is a free bonus if you want it.


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Appreciate I may be a bit late to the party here...

 

Out of interest are you using any software at the moment to cater for your property inspections and inventories?

 

Would be interested to find out how long they take you, or if they are something you outsource to a clerk.

 

 

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Hi Newbie I outsource pre-tenancy inventories but am on the look out for a basic inventory package to keep track of white goods, smoke alarms, boilers etc. Recently both Bosch and Hotpoint have announced safety recalls and it would be useful to look up the model or serials numbers for goods in my properties to see if there affected rather than visiting or getting the tenant to check. I'm still researching at the moment but if I come up with anything suitable I will post here.   

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Hi everyone,

 

 

I have a portfolio of properties that are all managed by letting agents.  Portfolio is within a Ltd company, portfolio will have at least 10 flats next year. 

I would like some software for tracking payments and expenses. Ideally it would be able to produce reports for use in tax returns.

 

Any recommendations for software for this purpose? 

 

Thanks! 

 

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On 7/25/2017 at 7:48 AM, jj_investor said:

Thanks - I will take a look

resurrecting an old thread to ask the OP what you ended up using as have a portfolio of a similar size to yours and have a similar requirement. 

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hi there,

I looked at some of the software recommended and in the end I decided to build my own system in Excel . I am a bit geeky in Excel anyway and am a qualified accountant, so I know how to set things up. I wanted something purely tailored to my needs rather than something off the shelf.

But the software recommended above looked very good.

 

 

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14 hours ago, jj_investor said:

hi there,

I looked at some of the software recommended and in the end I decided to build my own system in Excel . I am a bit geeky in Excel anyway and am a qualified accountant, so I know how to set things up. I wanted something purely tailored to my needs rather than something off the shelf.

But the software recommended above looked very good.

 

 

 that sounds good - QQ - how do you get excel to send you reminders for (CP12s expiring, rent payments, invoices, etc)? 

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I have a dashboard in Excel linking to different sheets covering different aspects of the property business.

I use a traffic light system - green when everything is fine, amber for example when something is due, red when overdue. So for example, a check that the rent in the statement is correct, check that cash received, statement received, tenancy expiry, occupancy, safety checks, mortgage expiry, notes, consents, insurance, P2P lending, financial reporting deadlines, etc etc. 

Everything is automated, so I only need to look at the dashboard to see an overview of the whole portfolio. 

I open the spreadsheet a few times a week, so it is not necessary to set it up to send me reminders on email etc. 

It's a lot of work and Excel can be a dangerous tool, but it appeals to my geeky side. 

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4 hours ago, imi-ezi said:

I've just signed up to Landlord Vision. 

I'd be interested in your opinion on this, I've been toying with the idea of some cloud based landlord software for a while now. 

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