-
Details
of the actual purchase including price, deposit,
equity, mortgage account details, Solicitor and
Broker used and remortgage when applicable
- Monthly/yearly
costs including mortgage payments, insurance premiums,
repairs and maintenance, safety certificates,
administration costs and travel
- Tenants
personal details, references, past addresses,
all other occupants
- Tenant
payment history, deposit, arrears or overpayments
Although
all of this information could technically be entered
into an accounts book or spreadsheet, many Landlords
find it easy to keep track with specialist Landlord
SOFTWARE.
If
you don’t know what to record or where to start,
this SOFTWARE will make things easier
as all the fields of information required are already
set out for you. All you have to do is fill in the
boxes. Furthermore, you will be able to create reports
on cashflow, profit and loss, tenant payments, mortgage
payments, equity amounts etc.
These
in turn can make filling in a tax return a much more
friendly experience
for you or your Accountant.
In
fact, some Landlords say that SOFTWARE
can negate the need for an Accountant especially if
the portfolio is small.
You
can try out several SOFTWARE packages
for free so you have nothing to lose and possibly
some cash to gain.
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