What are you using to track Portfolio / income / expenses?

What are you using to track Portfolio / income / expenses?

10:12 AM, 13th January 2023, About A year ago 18

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Hi All! I was wondering what fellow landlords are using to track their portfolio info, income, expenses etc.

I have 50 properties and have been using excel but wondering if there are online websites etc people are using to track large portfolios?

I look at transactions manually every couple days and then fill in the sheet if the tenant has paid rent.

I feel like there is a less time consuming way?

Any help would be appreciated 🙂

Thanks,

A


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Comments

Karl

11:18 AM, 14th January 2023, About A year ago

Reply to the comment left by Charlene D at 14/01/2023 - 08:55I'm trying the NRLA Portfolio too. It tracks income well, but there does not seem an option to record expenditure, so I can't see it being useful for financial record keeping.
Also, the things I dont like about these software and this applies to the NRLA one & Alphaletz, is that whilst you can add 'tasks' for reminders - eg gas Safety test etc. If you forget to add a reminder for any property, you just wouldn't know. An excel sheet is better for this as you can see empty spaces easily.
I'm, hoping some of these softwares will get better for the financial side as MTD deadlines get closer, albeit this is not now until 2026.

Connor Joseph

15:11 PM, 14th January 2023, About A year ago

Hi all! I'm Connor, from Alphaletz. We work pretty closely with Property118, as you might've seen over the previous few months.

For anyone here looking for a product demo on how Alphaletz works, we'd be happy to discuss how our Property Management Software could work for you.

Click the link below to book in a time slot with me:

https://calendly.com/richardja/demo

Connor Joseph

15:12 PM, 14th January 2023, About A year ago

Reply to the comment left by Karl Wilson at 14/01/2023 - 10:40
Thank you for the honest feedback Karl. I've passed this to the product team in hopes that we can improve on certain areas that our users want.

After all, our customers contribute to building the perfect solution and we're pretty focused on being consumer led in terms of development.

Thank you once again.

Connor

Andrew Miller

9:06 AM, 15th January 2023, About A year ago

We use Xero with bank account feeds and track income and expenses by property for our 50+ units using their Caregories feature. Works really well and our accountant has direct access so our year end involves us sending them opening and closing bank statements and off they go.

We've not started using CRM system yet but when we do it will be one that integrates with Xero. The right software for the right job is key - accounts is accounts!

JaSam

7:53 AM, 16th January 2023, About A year ago

Landlord Vision for us. Great software with built in MTD. Especially tenant portal for logging a reporting issues via a support ticket.

JeggNegg

11:57 AM, 16th January 2023, About A year ago

Reply to the comment left by Karl Wilson at 14/01/2023 - 10:40
good morning Karl. Re ALPHALETZ. i mentioned in my earlier post i am attending a training session with Alphaletz tomorrow. would you be prepared to send to me a bit more info re the reason you cancelled your membership?
and when you cancelled it?
as i am now worried i might have not done my research well enough.

chilka@btinternet.com

Karl

13:29 PM, 16th January 2023, About A year ago

Reply to the comment left by Jonathan Cocks at 16/01/2023 - 11:57
Its as I've mentioned above really. I felt the export of financial transactions was poor, and really not suitable just to be handed to an accountant. It wasn't sorted, collated, subtotaled etc in anyway.

Secondly, whilst you can add reminders for key things such as 'gas safe', if you forget to add one, there is no failsafe.. it could be forgotten for years just because you fogot to add the reminder one year. Wheras my Excel sheet would have a missing entry and would be easily spottable.

Hence, I decided that whilst some aspects are Alphaletz were good, as a whole, i'd still need a failsafe back-up or records for some aspects of my landlord journey, so I might as well stick with what I have for the time being.

JeggNegg

14:54 PM, 16th January 2023, About A year ago

Reply to the comment left by Karl Wilson at 16/01/2023 - 13:29
thank you Karl. i will address the issue of what reports are available to be downloaded and sent to accountants during my training tomorrow. hopefully for me Alphaletz have addressed this already and a suitable report is now available.

re the other point you raised, i am not 100% sure what you mean.
is it you want the system to be able to remind you do something whether its financially linked or an administration link?

regards

jonathan

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