Without a doubt, one of the most frustrating, time-consuming aspects of being a landlord is the ongoing management of your properties.
Whether you have a single property or a multi-property portfolio, Landlord Vision attempt to solve your management headaches with their innovative cloud-based landlord software.
They boast having over 35,000 active tenancies managed through their platform and being the only landlord software that’s recommended by the National Landlord Association (NLA) and the Residential Landlords Association (RLA).
What They Offer:
At the time of conducting our Landlord Vision review we found their service consisted of the following:
- Manage your entire property portfolio online
- Full accounting of income and expenditure
- Sync with your bank account for easy reconcilliation
- Notifications of all the important tasks you need to do
- Enables you to meet every landlord responsibility without stress
- Free 14-day trial
There are so many features within Landlord Vision that it’s difficult to get across the amount of value they offer. Essentially, their software helps you get everything in order.
That’s your accounts, your legal responsibilities as a landlord, your paperwork, and your tenants taken care of.
There are legal documents you can use and tax calculators that are regularly updated to the latest HMRC guidelines. That helps you meet your responsibilities without additional costly software and services.
You can take a free 14-day trial to check everything out for yourself, or, there’s a special 50% discount for your first 6 months if you decide to pay upfront. That’s worth considering as Landlord Vision is pretty cost-effective and so is relatively low-risk.
How It Works
To begin, you’ll need to decide whether you want to take the free trial or commit to paying upfront in order to claim your 50% discount.
Once you’ve done this you’ll be able to create your account and start adding each property from your portfolio. While this can take a little time if you have lots of properties, you’ll only need to do it once and the time-saved later makes it worthwhile.
You can then add the details of your tenants. Each tenant can be assigned to a property, or in the case of an HMO, an individual room within a property.
Adding their tenancy start and end dates as well as their rental information will help you manage your tenants and payments throughout their tenancy.
Once you’ve done this, you’re able to start exploring all of the other features and functions offered by Landlord Vision. that means you can start running reports, checking calculators, and creating alerts so you make full use of the time-savings benefits it offers.
Advantages of Landlord Vision
Here are some of the key advantages of Landlord Vision that we’ve identified:
Easy to Use
Although initially, it may appear complicated, once you get over this learning curve, you’ll find Landlord Vision very easy to use.
Excellent Range of Features
Whether you’re using a letting agent or managing your rental properties yourself, you’ll find this all in one software has features to suit your needs.
From tracking your finances and recording your property related expenses to providing accurate tax payment estimates and accurate profit and loss figures. Landlord Vision can meet your specific requirements.
Superb Customer Support
Landlord Vision not only provides full software tutorials but also supports the product with superb customer care. There is unlimited support with no hidden fees or charges.
Disadvantages of Landlord Vision
As with anything, there are some cons to keep in mind too, here’s what we’ve identified as the main disadvantages of Landlord Vision:
Some Issues With Editing and Deleting
No software is perfect, and Landlord Vision is a great example of this. Although this all in one software is generally excellent, some users have reported issues deleting or editing entries.
Complicated for Cash Rental Operations
If you’re a landlord with a cash rental operation, the Landlord Vision platform may be a little over complicated for your needs.
A Closer Look
The platform has been designed to make it easy to use, with the core features prominently displayed on the home screen.
Through the “Property Manager” icon, you can access your property details, add new listings, or edit current properties. For each property, you’ll need to add the details, including target rent, payment terms, furnishing, construction date, and property type.
You can also specify property features such as parking space, garage, house alarm, and smoke alarms. Just click save, and your property is available on the platform.
You can even manage your properties by the room, which is ideal if you have student, HMO, or multi lets. You can set up and record utility supplier information, including readings, so all your important property related information remains in one place.
When you click “Tenant Manager” you’ll see the platform’s rent and tenant management area. You can create a listing for every tenant, entering the relevant information as the primary or secondary tenant. Then you can assign the tenant to one of your properties.
You can then complete the tenant profile with the tenancy details, including rent, payment terms, start date, expiry date, and first rent due date. You can also specify limited access for your tenant to view relevant documents and log all related correspondence.
Accounting and Tax
The software allows you to create various reports to help you with your accounting and tax. The integrated accounting engine offers quick and easy bank reconciliation, and you can even provide free access to your accountant.
There are 10 accounting and finance reports, including Landlord capital gains and income tax.
You can also migrate your data from CSV and spreadsheet files. This makes it easy to gain better visibility of the expenses for each property. You can even record expenses using the mobile app and set up repeat expenses such as insurance.
This aspect of the software does have a learning curve. Many new users find this area a little daunting, but there are tutorials to help guide you through creating reports and getting the best use of the software.
Landlord Vision makes it easy to gain better visibility of the debt structure of your portfolio for more efficient management. You can track mortgage and loan status, automate payments, record fees and charges, track interest payments, and record capital payments.
This allows you to see the current balance with the click of a button. You can have an unlimited number of loans and mortgages per portfolio, so you can gain insight into your debt profile and maximise efficiency.
Landlord Vision also provides secure storage for your own documents. There is a legal document centre and E-signature document signing. You have the reassurance that you will remain compliant with the latest government regulations. All Landlord Vision legal documents and tax records are kept up to date.
You can also use the platform to mail merge and send letters, streamlining the admin of managing multiple properties.
As an all in one solution, the software also has a number of task functions to make managing a property portfolio easier.
There is an integrated calendar and worksheets to help keep everything organised, but you can also receive tenant and landlord email alerts and automatic warnings, so you don’t get any unpleasant surprises.
The task management area of the software allows you to automate key tasks such as collecting rent, and you’ll receive a notification if your tenant misses a payment. You can also configure the task management, so you’ll receive automatic reminders. This alleviates the worry about missing an important tenancy or property event due to a scheduling error.
As you can see, this platform not only helps to manage the day to day tasks of tenancies but also keep track of important tasks and ensure your paperwork is prepared for taxation compliance.
The software also has excellent support. There are video tutorials and phone support, with unlimited support. Whether you have a quick question or need to spend an hour on the phone getting help, there are no hidden fees or charges for this service.
Landlord Vision began as a property taxation specialist service. Originally, the team helped clients to minimise their tax bills. The platform was developed by landlords who discovered that other landlords were having similar issues staying organised and compliant while trying to grow their property portfolio.
The Landlord Vision team decided there was something they could do to help.
CEO, Amer Siddiq evolved his property tax advice established from helping tens of thousands of landlords across 15 years to include overall property management. The team also brought together property management experience, and software development to create this all in one property management tool.
How Do They Use PropTech?
The entire Landlord Vision software has been purpose-built as a property management software. That means the entire offering uses PropTech to solve the problem of spending too much time managing a property portfolio. Landlord Vision claim that their software helps landlords reduce admin time by around 31% on average.
Landlord Vision Reviews
Looking around at Landlord Vision reviews and it has, on the whole, some excellent reviews. Most people who try it appear to back up the claims of the company that the software helps them save time.
While there aren’t too many negative reviews, the ones that mention negatives are more around features they feel are missing. This is always likely to be the case when dealing with software where everyone has different needs.