Avoiding Deadly Landlord Errors with Landlord Property Software

By: Amer Siddiq

The property rental market has always been, and will no doubt always be, a competitive, high value and risky business. With the right properties in the right places and with good tenants it is possible to make a lot of money. The reverse is, however, also a fact of business life. Poor management of high value assets in a volatile market can destroy a business. Without a doubt choosing a good landlord software package and using it to its full potential can help the professional landlord to keep control of all aspects of their property business. Listed below are just a few examples of mistakes that can cost professional landlords dear.

Having the wrong tenants:
This is a mistake that you should make less frequently as you gain experience and confidence. It is, however, fair to say that even a very experienced professional landlord can still make this mistake and the consequences can be catastrophic. It hits a professional landlord where it really hurts. It takes time to fix and it can cost the business a lot of money. With the right tenants in the right property you will sleep better. Good landlord property software used effectively will enable you to generate a list of checks and procedures to complete before you enter into a lease. Is your tenant solvent? Do they have a good track record as regular payers? If you do encounter problems then using a good property management software package will ensure that the reminders and any letters before action are sent out on time. If you do then have to take legal action you will be able to show the court that you have acted diligently and followed the usual steps in debt recovery before reverting to law.

Inadvertently misleading or lying to your tenants:
Getting the right tenant in the right property at the right price is only the beginning of your relationship. Like any relationship you need to work at it. There are unfortunately many examples of landlords who’ve chosen well in terms of tenants but then ruined the relationship by letting the tenant down. As tempting as it can sometimes be you should not make promises or assurances that you cannot deliver. Sometimes just forgetting to do something that you’ve told the tenant you will do is enough to turn an otherwise good working relationship sour. Using landlord property software can help you to manage this important aspect of the property business. It can help you to keep track of appointments and maintenance and repair obligations. This information is easily accessible and kept in one place. Having this information hand in hand with details of cash flow will help you plan, manage and control your cash and obligations better.

Entering the tenant’s rental property without permission or notification:
This sadly is a lesson that some old school landlords just seem incapable of learning. Getting it wrong can devastate the landlord tenant relationship. Emergency access provisions should be covered in the terms of the lease otherwise you should exercise restraint and be courteous and ask your tenant for an appointment to visit them at their property. Yes, as the landlord it’s your property but day to day you cannot just come and go as you please. Again, landlord property software can help you to effectively manage this aspect or the business.

Without a doubt property management software can improve your relationship with your tenants by helping you to plan and control the business thus avoiding these deadly basic landlord mistakes.

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Property Portfolio Software provides property management software and landlord software that is designed by landlords for landlords. Our UK leading property management software solutions are guaranteed to save you time, money and effort in running all aspects of your property business.

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