The Latest Property Tech
In today’s world there is an app (or software) for everything! The property world it is no different.
We have noticed some recent articles on helpful tech for investors, so we decided to add to it with some of our own research. We tried to cover a wide range of jobs that need to be covered as a landlord. So, as you can see, we have split this feature into sections dependent on what you want to do.
First is research, as professionals we need to do our research thoroughly. You’ve probably used these sites before, but it may be useful to know they also have software to help you out:
‘Zoopla’, ‘Prime Location’ & ‘Rightmove’: The UK’s biggest property websites – have the biggest apps. These 3 databases alone have over 1 million properties combined. Their apps can do everything the websites can do so may be useful for on the run. If you’ve ever used any of these sites before you’ll know how useful they can be as they allow you to be very specific with your property searches. A bonus is that they also have news features to keep you up to date on the market.
‘LoopNet’: This company’s site is a marketplace for commercial property specifically, but again they also have an app for when you are viewing property or don’t have your computer to hand.
Next is advertising, usually a job for an estate agent, but for those of you that prefer to do this yourselves there are a few handy bits of tech that can help:
‘OpenRent‘: As a continuation from the research software, if you want to use ‘Zoopla’, ‘Prime Location’ and ‘Rightmove’ to advertise then you’ll have to go through an agent. ‘OpenRent’ However can cut out the middleman and allow you to advertise on the aforementioned sites as well as their own. This also means when you have found a tenant you can deal with them directly meaning fewer fees.
‘thehouseshop.com’ & ‘Gumtree’: If you want to be even more hands-on with your marketing then use these sites. They will require you to make your own advertising but can allow you to be seen easily by potential tenants and you will deal with them directly. ‘Gumtree’ has its own app but as far as we know ‘thehouseshop’ doesn’t so you will just have to use your computer for that one.
Here are a few apps that help you organise your portfolio without having stacks of paperwork:
‘Dealmaster’: Our own app, allows you to create a database of information on your own properties as well as any property you are keeping an eye on. This includes storing pictures and all financial information, it will even do the maths for you. This app is only accessible to Fielding Financial students.
‘DocuSign’: This software can store important documents and allows them to be sent by email and verified by a tenant on their computer. Using the software will also massively cut down on the amount of paperwork you have as it can store documents as well. This is especially useful for when you have a high turnover of tenants.
‘RLA Inventory Plus’: Allows you to keep track of a property’s inventory using photos. It also allows your tenant to keep you updated with their condition by adding photos themselves.
These are our recommendations for apps for managing rented properties:
‘GoTenant!’ & ‘Arthur’: These are types of all-purpose property management software, that allow you to keep track of everything going on with your property by communicating with both tenants and agents. They can also send rent reminders to tenants and give them easy ways to pay. These apps are especially for people who believe that ‘DIY stands for ‘don’t involve yourself’.
‘Inspire Home Automation’: Allows you to monitor temperature in your properties. This will let you know if anything goes wrong with the boiler. One landlord said that he sent round a handyman to fix the boiler before the tenants even realised something was wrong.
For all other jobs don’t forget there is www.fieldingfinancial.com which includes, ‘the buddy board’ for our students where you can find the right partner to help you in your investing journey. It also features a place to build your own ’power team’ where you can see recommendations for people like contractors or plumbers in whatever area you want. We are sure most of you are using these, but we wanted to make sure you are taking advantage of all of the features and well equipped on your property investing journey.