Recommended Rental Property Investment Software

I have had a lot of emails asking about the best rental property investment software, or property/real estate investment software in general.

So who is good at keeping all their accounts up to date, and looks forward to filling in their tax returns??!!

If you do there is either something wrong with you, or you must have a very good system for keeping on top of all your paperwork!

So what is the best way to keep on top of your expenses, and how do you ensure you can keep accurate estimates of your portfolio, when your properties can be all over the UK and overseas?

It isn’t always easy, but luckily I have the solution!

In my opinion when you buy your first 1-3 investment properties, you should be able to keep track of all your expenses, costs (legal, agency, lettings etc) revenue, on a simple spreadsheet – but as you start growing your portfolio, to ensure the best use of your time, is worth looking to a purpose built rental property investment software system.

When it comes to carrying out a refurbishment, and ensuring you are totally accurate with your costs; or organizing a buy to let, and ensuring you are making money each year; or getting an accurate valuation of your portfolio at different times in the year, with properties in different regions; or an automatic system to work out depreciations this can generally take a great deal of time – which could be better spent looking for more deals.

I have come across some easy to use software, that once you set it up, keeps you in excellent control of your portfolio, saves you hours, and most importantly saves you paying as much tax!!

This was exhibited at the Property Investor’s Show in London this year, and got a great deal of attention, from professional investors, right through to people just starting out who want to be in control from day one who were looking for rental property investment software to aid their efficiency.

If you are running your property investing as a business – which you should be if you want to achieve your goals – then is important you are professional in everything you do. If you have several rented properties, must look at option of getting some rental property investment software.

There is no point working hard at getting a property BMV and then not keeping track of expenses, and then having to pay £000s more in tax than you needed to.

Rental Property Investment Software - Property Intellect as far as I am concerned covers everything you will need, and saves time!

Just some of the areas it will cover:

Keep up-to-date with regional price movements - automatically

Rather than giving your own estimate for price changes, use the regional revaluation engine to download and apply the latest monthly price changes (data supplied by rightmove.co.uk - the leading national UK property website).

Full scheduling & revaluation engine

Want to know if your tenant rental payment is overdue? Or perhaps you want your loan payments recorded automatically. The powerful scheduling engine is built with the landlord in mind - schedule recurring bills and payments; manage partial payments and even get your mortgage payments entered into the transaction register automatically (including break down into the associated capital & interest parts!). Pretty impressive rental property investment software I am sure will agree!

Project and task management

Property Intellect comes complete with a full project management area designed to make running any number of projects simple. Enter contractor quotes and budget estimates and watch your spending and project progress using the project monitor screen. Unlike other solutions, Property Intellect monitors your actual spend on each project and automatically compares it to your estimates for each task and the project overall.

Full multi-currency support

Got properties in more than one country? No longer a problem - simply tell Property Intellect what currency the asset should be in, and then enter current values, income and expenses in the native currency. When you want to see them all together Property Intellect converts all the values using the latest exchange rate to your 'home' currency (which, naturally, you can select and change at will). You can even enter inventory items in any currency! How big a help is this?!! Has helped me big time with my foreign investments.

Store an unlimited number of pictures of properties, assets and inventory

Get more from your property images than a single postage-stamp sized picture. Use the new 'Picture Browser' to store multiple aspects of any size for each property - build up a library of images of your inventory or just record photos of expensive objects in your own home for insurance purposes.

Make your tax return easier

Music to your ears?? With it’s built-in tax spending report, filing your tax return needn’t be a headache. Summarise your income and spending and export to give to your accountant, or put the figures straight into your tax return.

Efficient, professional book-keeping

Record income and expense transactions against your properties - rent received, renovation costs... anything you like with categories that you can define. Print out receipts for transactions whenever you like.

Powerful built-in finance tools

Record, cost and compare mortgages and other loans for the best deals. Amortise (list out) payments throughout the life of the loan and have them included in calculating your future net worth.

See what a single item or portfolio will be worth in future - assign rates of growth for capital and income on a per-asset basis

Amortise loans to see how your payments reduce the outstanding amount

Get a commentary on when you could retire with the income you want

Import transactions from MS Money, Quicken or your bank

Comprehensive property and investment analysis worksheets that give you the information to make those important decisions.

‘Active’ reports, including the new ’Loan Review Report' all included in this rental property investment software.

View your current assets and liabilities to generate your net worth, view the asset allocation of your portfolio and assess current performance. Add more reports as you need them!

Want a simple overview of a property? The unique Property Summary report gives you a unique overview of the current state, financing and tenant history - all on one page.

Depreciate inventory - automatically, to your schedule

Need to depreciate inventory year-on-year for tax purposes?

No problem - just set up a task to run yearly, and Property Intellect will adjust the values of all inventory item using the setting for each item, or apply a global reduction - you choose!

Generate tenancy agreements and Section 21 ‘notice to quit’ letters automatically.

Choose your tenancy from the built-in agreement, an OFT-approved agreement provided by one of the main landlord associations, or use your own! No more purchasing of separate agreements.

Send SMS text messages direct to tenants, contractors or your friends!

Send one message to a whole group of contacts in one go, and have Property Intellect automatically categorise and log the message in your journal.

Now I know, if you’re anything like me, all these options at your fingertips can seem pretty daunting! You may be saying to yourself something along the lines of “this looks a great system, and am sure would be great for most people, but I seem to be managing ok”!!! I know I was, but I was kidding myself.

This is an excellent tool to add to your property investment armoury, as important as a good lawyer or good tradesmen.

You can sign up for a trial download, or choose the most appropriate format for you at Property Intellect software - rental property investment software.
In my opinion, you will not find any better value product on the market, plus Property Intellect gives you an excellent support structure, and a member’s only area.

It is a good time of the year to be getting on top of your accounting and once you have it, you will wonder how you managed before, and will actually look forward to going through your paperwork, however hard that sounds to believe!!

Check it out at Property Intellect Software

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