"Landlord Studio started as a private tool for me to have better insight and clarity around my first major property investment, after moving back home to New Zealand from London about two years ago. I couldn’t find anything that was specifically designed and built for someone like me, so I quickly put it together and put it up on the app store. Unexpected amounts of enquiry and feedback led me to take the product and develop it into a fully-fledged service."
"While there are small business accounting software tools out there, like Xero and Quickbooks, they’re not designed for individuals managing the finances of their rental properties, and can feel clunky and overly complex. On the other side of the scale, simply tracking income and expenses via a spreadsheet or more analogue methods, is time consuming and rudimentary. Landlord Studio is the only SaaS of its kind."
What do they do?
Landlord Studio offers a comprehensive income and expense tracking system designed by landlords for landlords.
Quickly digitise your receipts with their Smart Scan technology and they extract and input the dates and amounts for you.
Connect your bank accounts to view and reconcile bank transactions from inside the software to increase your accounting accuracy and speed.
Manage on any device at any time to ensure you are keeping up to date digital records.
Instantly generate a range of professional reports from any device to gain nuanced insights into your portfolio.
How much does it cost?
Pricing starts at £5.99. No hidden fees and there’s a 14-day free trial so you can test it out before you buy.
Top three tips
Use software that allows you to connect your bank account and digitise receipts at the point of sale.
Keeping accurate up to date records is about more than just preparing for tax time, it is essential for gaining financial oversight of your portfolio to identify weaknesses and opportunities for growth.
With the recent Section 24 tax changes, the planned increase of minimum energy efficiency standards, suggested changes to capital gains taxes, and the move to MTD coming, it is becoming more challenging to operate buy-to-lets profitably. Landlords need to be exploring tech solutions today if they want to successfully tackle these new challenges.
All our information is brought to you by Kate Faulkner, author of Which? Property books and one of the UK's top property experts.