New cloud-based software recently published by the National Landlords Association (NLA) is offering an easy-to-use buy-to-let business management system.
To manage their property and tenants, landlords often use spreadsheets and various documents. According to a July 2016 article from Landlords.org.uk, The Landlord Vision software has one goal – to make it easier for landlords to organise their business by having all the information they require in one place, eliminating the need for multiple documents.
The software manages tenancies and flags up any arrears owed. It tracks rents received and expenses to produce a full profit and loss balance sheet and cash flow forecast, which can then be reconciled with bank statements. The software produces income tax reports read for tax assessments.
Landlord Vision also integrates with the NLA legal document centre.
Most landlords finance buy-to-let property purchases using commercial mortgages, and the software tracks mortgage payments.
Carolyn Uphill, the NLA’s chairman, described the software:
“Landlord Vision offers a simple one-stop solution to help you keep on top of your property business and it is the latest example of how the NLA is creating the means to help landlords to make a success of their businesses.”
She stressed how important it is for landlords to effectively manage their business. This can be time consuming, but not keeping on top of running the business can have a more negative effect.
The software is easy to use and can be tested free of charge by NLA members for six months, after which a subscription is charged.