Landlord software: How to choose the right finance tracking system for you

publication date: Sep 1, 2021

Checklists

Landlord software: How to choose the right finance tracking system for you

Checklist provided by 

www.landlordstudio.co.uk

 

Why we work with Landlord Studio


 

 

 

Landlord Studio is the industry leading property management app. Here are their top tips when it comes to selecting the right landlord finance tracking system to record your income and outgoings.

Make sure the solution is designed by landlords for landlords or by a company that is established in the landlord market – this will make it much easier to use.

Does the solution cover major property management requirements that landlords have including:

  • Full income and expense management for recording all your property expenses
  • Comprehensive tenancy management, including, rent reminders, tenancy reminders, running balance, and late fees.
  • Reminder for alerting you to all landlord related tasks, including gas safety checks and certificates.
  • Connect your bank accounts to view and reconcile transactions from inside the finance tracker or app.
  • Easily record receipts  to make expense tracking efficient.
  • Give your accountant and financial planner viewing access to your accounts         
  • Store all of your documents such as EPCs, safety certificates online in one place so they are easy to access.
  • Ensure they produce easy access and read financial and portfolio performance reports that are easily filterable by date range, property, and expense categories.
 

Check out customer reviews on sites like Capterra and social media channels to find out what current users think about the software.

 

Check for awards their software has been given.

  Find out if you can have a ‘free trial’, a free demo or if there is a money-back guarantee
 

Can your data be backed up on the cloud so it won’t get lost and is accessible from multiple devices?

With the growing trend in cloud-based software, an increasing number of landlords will want software that will run on PCs, Macs, tablets, and smartphones.

How many computers/devices can you install/use the software on – just one or several?

Can multiple users access the software remotely? For example, you have a tenancy manager who enters rent payment details.

How much is the tool, how do you pay, and are there any minimum term contracts?

Look at recent and past software updates and see how regularly it is updated and what future updates they have planned. Ideally, they will update regularly with new features based on user feedback.

What support is provided?

Will it be compliant with the HMRC’s MTD guidelines by the April 2024 deadline?


Landlord Studio is a cloud-based landlord software suitable for all your property accounting needs - find out more here

 


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