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Landlord Property Management Software - Evaluation and Analysis of Different Letting Software
What is property management software?
Property management software or as it is sometimes known, letting software is software that allows landlords to manage their rental business by enabling them to organise and store the data relating to a landlords letting business. There are a whole range of software companies that produce suites of property management software for landlords, often with various levels of functionality.
What functions can property management software be used for?
There are a whole range of functions that property management software can perform. The main things that property management software is used for in managing a landlords business is as follows:
∑ Recording rental payment from tenants
∑ Providing a financial overview of a landlord's portfolio in respect of the buy-to-let mortgages secured against the residential investment portfolio and the total value of the residential investments
∑ Enabling a landlord to record key dates such as the dates for the landlord safety certificates or renewal of the landlords buy-to-let insurance
∑ Most landlord software packages will provide the key lettings forms required by the landlord such as: tenancy agreement, section 8 notice, section 21 notice for possession, section 13 notice for increase of rent, inventory.
∑ The landlords and tenants contact details
∑ A means to calculate a landlord income tax liabilities
There is some property management software which offers much more than these basic functions. These 'high end' property management software suites are very much aimed at the professional full time landlord who probably has a portfolio of at least 10 residential investment properties and derives their main income from letting out residential property to tenants. The sort of additional functionality available in these property management software packages would be:
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