Using Landlord Software To Track Your Cash Flow

By Author: property management software
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There are two reasons why a person desires to become a landlord.

The first is to acquire an appreciating asset that, when disposed of, will generate a handsome capital gain.

The second is to have a property that is generating a month by month positive cash flow that will either supplement any other income or will in fact become the sole income for the landlord.

It is quite common now for landlords to take the time and effort to buy a property management software or landlord software solution that will help them to better manage their growing property portfolio.

However, any software solution must be capable of accurately tracking the cash flow that the portfolio is generating.

With Landlords Property Manager you have a property software solution that not only allows landlords to track their entire property related income and expenditure, but goes one step further by providing cash flow reports and graphs.

For example, you can track how much positive (or negative) cash flow is being generated across a single property or across the entire portfolio.

You can also use this clever ...
... landlord software package to generate Microsoft excel based reports and graphs to see in chronological sequence all the income and expenditure. Of course, if you want to then send this spreadsheet to your accountant it involves just a couple of mouse clicks.

It will highlight any properties that are generating a negative cash flow and then you can start to scrutinise the expenditure, or lack of income, and take quick remedial action.

Such remedial action could include: increasing the rents; removing some of the expenditure that is incurred; or you could start shopping around to find cheaper suppliers.

In fact, you should always be addressing the above constantly, but sometimes it is only when you see things in black and white, or you see how your cash flow situation is, that you take the appropriate action.

As every landlord knows, good cash flow management is the heartbeat of any successful property business and, therefore, your property management software should be helping you monitor this and highlight the areas requiring attention and improvement.