The 5 biggest challenges facing landlords

The biggest issue facing property investors with a growing portfolio is the huge amount of paperwork they have to deal with. Landlords are overwhelmed by the administrative tasks of ensuring that rents are received and all the bills are paid.

Property management software firm, Property Portfolio Software, has analysed three years' worth of feedback from its customers to work out the top five issues facing landlords.

As well as being burdened by paperwork, other challenges they encounter are keeping track of legal documentation and managing tenants effectively.

Amer Siddiq is an existing landlord and software designer who founded Property Portfolio Software.

He says: "As a property investor myself, I know what a nightmare it can be to keep on top of property management issues while you're developing your portfolio.

We've been collecting feedback data from our customers for three years. When we analysed the results, we were not surprised to see that concerns about staying organised take the top four places in issues facing landlords."

The top challenges facing landlords identified by Property Portfolio Software are:

  1. Increasing paperwork: Landlords having to keep on top of bills and rental income.

  2. Staying legal: Landlords keeping track of safety certificates, legal documents and property policies.

  3. Good tenant management: Landlords making sure that tenants get the information they need at all times.

  4. Income tax management: Landlords knowing what tax is due and when.

  5. Maintaining a positive cash flow: Landlords having to accurately track all of their income and expenditure.

Property Portfolio Software solutions guarantee to save you time, money and effort in running all aspects of your property business and here are the top FIVE reasons why landlords use their property management software solutions:

  • They help landlords to get better organised.

  • They minimise the time landlords spend on reconciling information.

  • They cover all major challenges faced by landlords.

  • The software is easy to use.

  • They are designed by landlords for landlords.

To find out more about how property management software can help you to manage your property and tenants, pay tax and your bills, keep the correct legal documentation, and track your incomings and outgoings, read Amer’s Property Portfolio Software website.

Calculate the net profit from your buy-to-let investments with our Rental Income and Landlord Expenses Manager.

Published on: July 1, 2008

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