Which Digital Tools do you Need as a Landlord?

At first glance, it might seem that Landlords don’t require any tools to gain income from their rental properties. But, on the contrary, it’s a hands-off profession most of the time. After all, passive income makes becoming a landlord so tempting.

But there are still digital tools that you could benefit from if you’re looking to become a better, more organised Landlord. These tools can help you streamline tenancies, handle disputes, and even improve your rental income.

In this article, we’ll look at some digital tools and technologies that are handy to have.

Bookkeeping Software

Being a landlord is no different from running a business. You’ll have expenses in the form of repairs and overheads, as well as income. In addition, you’ll have deposits to keep and mortgages to pay. Depending on how you run your property, you might also be responsible for bills or council tax.

Bookkeeping software will help you track your cash flow to quickly see how much your property is bringing in. This will make it easier to balance the cost of the rent. Some business accounts now include free booking software so it’s worth shopping around.

List of Contractors and Professional Services

One of your primary responsibilities as a landlord is to step in if anything in the property breaks or needs maintenance. Unfortunately, you might not be an expert in all the disciplines required for this task. Namely electricity, plumbing, decorating, roofing, etc. As such, it’s a good idea to maintain a list of trusted contractors and services, so you know who to call if any issue arises.

You can get lucky or unlucky with independent contractors. So, whenever you find a professional, you trust to do a good job, ensure you keep their contact details. You can also ask real estate professionals or other landlords for recommendations.

Your Tenant Screening Checklist

Before any tenant can move into your property, you will have to screen them. This establishes that they have a legal right to rent in the UK and are financially responsible. You don’t want to be left high and dry with a tenant that can’t make rent suddenly.

A streamlined screening process ensures you can go through these motions at the start of every tenancy without much hassle. This means preparing forms and having a folder ready to pass on to tenants.

Inventory and Dictation Software

Property inventories list the condition of the property and furnishings at the start, middle and end of a tenancy. These documents are vital for ensuring you can keep the deposit if something is damaged or can ask for reparations. In addition, inventory software ensures the process is streamlined, and you don’t forget to take pictures and note observations.

You might be wondering where dictation comes into that. Simply put, creating inventories is tedious. It requires you to walk around your property, looking at everything in great detail, before returning to your phone or computer to make notes. This process can be sped up considerably with free dictation software that lets you take notes whilst describing an object’s condition.

Report2Go offers a free and streamlined inventory app with dictation software built in. Complete your property inventory or schedule of condition hands-free and on the go. Check out our website to learn more.

Dan, 30 September 2022
Which Digital Tools do you Need as a Landlord?

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