I’ve been looking around for landlord software management systems, that handle small to medium sized property portfolios for private landlords. There are plenty out there, and new packages are continuously being made available, so there’s a small issue of cutting through the shit in order to find anything useful.
I haven’t had extensive experience with many landlord management systems, but I’ve tried a few out. I used to use a regular, custom Landlord Management Excel Spreadsheet, but the flaws of that quickly became apparent as my portfolio started to expand. The spreadsheet’s features are basic; it only calculates my income and expenditures. It’s fine for someone with a small portfolio, so I welcome anyone to test it out, and even make improvements. However, there are piles of more advanced packages out there that calculate all kinds of cool stuff, like forecasting, annual rental income tax using HMRC guidelines (extremely useful) and financial reporting. Some of the systems make life a lot easier, as you can quickly see a snapshot of your finances, so they’re worth the investment, especially if you’re a landlord juggling multiple properties.
While there are free landlord software packages available, it definitely is a case of getting what you pay for. I’ve tried a few free packages out, and they weren’t all that impressive, even for a free service. But again, I wouldn’t discourage anyone from trying them out. The paid products can be pretty expensive, but can also be worth the investment…
And remember, landlord software is tax deductible :)
Paid Landlord Management Software
|Property Portfolio Software|| £49.97 + VAT, per month|
£397 + VAT, one off payment
| My personal favourite, and naturally, it’s the package I use. You can see how it works by going to the Property Portfolio Software Website and clicking on the “demo” button. It’s probably the best one I’ve seen so far and it comes with an unbelievable amount of features, including income tax calculations (using HMRC guidelines), and access to a Legal Document Centre, where you can create and download all your Tenancy Agreements, Guarantor forms and Section 21s.|
Suitable for landlord and/or letting agent.
90 day money back guarantee.
|Landlord Vision (cloud based)||£19.97 + VAT, per month|| The newest product to the list- and I must say, it looks impressive!|
Landlord Vision is an online property management software tool. You can access it from any web connected device. The software produces reports that show cash flow, rental income, expense, taxation and equity reports. There’s also plenty of videos on the website so you can see exactly how it works.
30 days Free Trial. No payment details required to sign up.
|Property Manager Online|| £34.99 per month|
£399.99 Outright package
|One of my readers’ actually recommended this one, but I have no idea how good it is, I’ve never used it, but it looks OK! I wouldn’t be my first choice. There is a 30 free trial|
Free landlord Management Software
|Property Hawk Landlord Software||Free|| I’ve actually tried this software. It was ok, but a little too old school for my likings. There were a lot of forms on different pages, so it made simple things like adding a new property/tenant long winded. Most of the forms could have been combined onto one page, saving a lot of user time. But it’s free, and it works, it also generates a lot of useful landlord forms E.g Tenany Agreements.|
According to the owners, it’s the best landlord software in the world…probably. Yeah, I’m not sure about that.
I must clarify, this is a web based package (you can access it from any computer with an Internet connection), and not downloadable software, like many of the others.
|Smart Property Manager||Free|| Another web-based application which offers a free service, amongst premium versions which come at a cost. But the free version is perfect for single landlords with less than 100 properties.|
I’ve not used it, but there appears to be a load of features. You can see details and screen shots on the Smart Property Manager Feature Page.
Any other recommendations?
If anyone is aware of any other product, please let me know, and I’ll add it to the list. Also, if anyone has had any experience with any of the above, or similar products, please let me know! I’d love to hear your recommendations.
Anyone out there use any landlord software management system? If so, which one?
I’ve actually been tempted to develop my own free, web-based software for Landlords. Hmmm. It’s certainly something to think about. The other providers should be a little scared =]