Whether you are new to property investing or already have a large portfolio, knowing the best tools for property investors can help you grow and manage your portfolio more effectively.
So, here’s our guide to 10 of the best tools for property investors in the UK at the moment:
1. Property Hawk
Buy-to-let landlords will love Property Hawk as it gives them free access to a host of documents and software that would normally need to be paid for. Legal costs can be cut by downloading their free forms and documents, including tenancy agreements and rent change notices. Users can also manage their investment portfolio using the free Landlord Software. This gives landlords the ability to keep all their records up to date and manage the finances of their properties effectively.
2. Landlord Vision
If you’re not an ‘admin person’ then you’ll appreciate this beauty of a tool that’s made specifically for property investors. Landlord Vision combines both management and accounting into one easy-to-use tool. That means you can easily keep on top of both your accounts and the various paperwork you need to meet landlord regulations. Landlord Vision is recommended by both the National Landlord Association (NLA) and the Residential Landlord Association (RLA) so you know it’s a tool that can be trusted.
3. Rated People
If you need any work doing on your properties that you cannot carry out yourself, Rated People has you covered. Whether the job is large or small, there are over 50,000 local tradespeople on the site that cover the whole of the UK. Therefore, you can be sure of finding someone capable of doing the jobs you need doing, at a fair price. Each tradesperson has a profile where any reviews from past jobs will show up so you know they can be trusted with the work you need doing. Rated People is by far one of the quickest and easiest ways to hire tradespeople to work on your portfolio.
4. Property Detective
The Property Detective website is primarily made for non-investors who are buying a property. However, that doesn’t mean it cannot be useful to investors too. Simply enter the postcode of a property you are considering buying and you’ll be presented with a range of detailed statistics and facts about the local area. For example, you’ll get school reports, crime information, local demographics, flight path information, and more. All of this can be used to help you assess the type of tenant you are likely to attract and how best to market it on re-sale.
5. Portfolio
Founded by a two former letting agents, Portolio is a relative newcomer in the industry and is still building up a head of steam. However, don’t let that put you off as this is a business that could really be going places. In essence, it’s a portal not unlike the ones offered by giants such as Rightmove and Zoopla. However, where Portolio differs is that they only feature tenanted properties that are up for sale. That makes it a buy-to-let landlords dream as you can benefit from immediate rental income as soon as the purchase has been completed. Beginners will also love the ease at which they can buy their first investment property without the uncertainty of whether they can find a tenant quickly.