http://www.propertyhotspots.net/view.php?content=1&id=31

I do not know about you but when you own more than 10 properties, keeping track of when the rents are due can become a nightmare.  This is because rent is paid:
1.weekly - usually this is low paid private tenants

2.fortnightly - usually this is the top up element from an unemployed person because their Job Seekers Allowance is paid fortnightly

3.four weekly - usually this is councils when they pay the housing benefit

4.per calendar month - usually salaried private tenants with higher incomes because the tenant is paid every calendar month

Add to the fact that some of the rent is paid in arrears and some in advance you can see that a mixture of tenants that are private weekly, private monthly and housing benefit can quickly lead to confusion. So in my scenario try handling 170 properties.

A little bit of personal information about me.  My girlfriend moved in with me exactly 1 year and 1 day ago and we always knew that she would take over the administrative duties of the portfolio eventually.  Well she has over time taken over the letter writing, dealing with the council tax, sorting out the repairs etc. but now its time for her to enter in to the rent chasing from the letting agents.

So with a few discussions with her we ruled out the following methods of keeping track of rent arrears:

1.Pen and Paper ? this just seemed to out dated and backward.  We both knew that using a computer in some way will always be better than pen and paper.

2.Using Microsoft Excel - this seemed a possibility but considering there was no trigger for when the rents become due it would simply be a static page sitting on a computer.
3.Using Landlord Software - I bought a package for £149 and frankly I was gutted.  I thought it was the solution to all our problems but the software was just too confusing and complicated and very inflexible.

4.Using An Online Accounting Package - I liked the idea of being able to check on the status of my portfolio anywhere in the world.  But when I looked in to it there was nothing for a landlord where rents due would be automatically calculated.

So in a nutshell there was nothing out there.  But then I thought - let me look at my own portfolio online manager software I offer on my propertyhotspots.net site.  I created it a while ago and aimed it towards the part time landlord. Now I am not blowing my own trumpet but what I myself offered to my subscribers was EXACTLY what I needed.  No joke.  My portfolio management program is:

1.Online - so you can check on your portfolio anywhere.  Also if you lose your computer or it gets stolen or the data gets corrupted you do not have to worry as all the data is stored on our high performance security backed servers.

2.Simple to use - no complex linking properties with tenants or compulsory fields to be filled in.

3.A Debtor list generator - by a click of a mouse you can see who owes what at any one time because rents are added to tenant's debts automatically once the rent becomes due.

4.Flexible with rent cycles - you can add the rent so it is payable daily, weekly, fortnightly, four weekly, monthly, quarterly or even annually.

So now my girlfriend and I are in the process of adding all my properties on to my own website.  There is also another neat feature where you can create a portfolio page which has all the details of your portfolio in a spreadsheet to view online.  You can include the date you purchased it, what you paid for it, mortgage outstanding and estimated value.  The sheet will then calculate the estimated profit the equity contained in the property and the yield.

It will also total up your portfolio so you know what to expect to earn from your portfolio as a whole, the total amount of equity in your properties (i.e. your net worth) and the overall yield of your portfolio. So I challenge you - see if you can find a software package that does what my package does!

Now I am offering you the chance to fully test my software package. Plus you will also get all the other benefits of being a PropertyHotspots.net member such as hotspot of the week, 40 property deals a week, all the guides and indices, legal documents and much much more.  If you do not like it just cancel and you will not be billed anything further.

Visit: http://www.propertyhotspots.net/view.php?content=1&id=31  and use the promo code: ph50 to get 50 per cent off the subscription price.

Good luck with your portfolio.

Ajay

http://www.propertyhotspots.net/view.php?content=1&id=31

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Posted on: 26th February 2008 @ 11:46:00