Property Management Software Tracks Property “wear And Tear”

By Author: Amer Siddiq
Total Articles: 89
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One of the most important and sometimes time consuming tasks in a landlord's list of chores is the maintenance of his or her properties, Clearly the more of these you have got the more onerous the task but even keeping track of a couple can be a bit daunting.

One thing that any modern landlord should have in their ‘landlord's tool box' now is good and reliable property management software. Also known as landlord software our solution has been developed through years of experience as landlords ourselves. Because of this experience we recognize the importance of tracking maintenance expenses and have made it a prominent feature of our software.

On the maintenance and repair screen of our landlord software you will by able to choose whether each of your properties is fully furnished or unfurnished. If you have indicated that a property is fully furnished on the property details screen then you will be able to select it if you wish to claim the ten percent wear and tear allowance on your income tax.

If you have indicated part or unfurnished then the property software will not give you that option. It ...
... will however display a message that lets you know you have recorded the property as not furnished in case you need to adjust that or have made an error.

This program also helps you to keep track of all the major and minor repairs you do to all your properties, by allowing you to record all the key information of such transactions such as date, cost type and whether the repair was internal or external.

There is also a sub section that allows you to keep an eye on which fixtures and fittings you have had to replace or repair over the length of a tenancy. This is key as clearly these will be part of the property whether it is furnished or not.

Crucially this section also allows you to record whether the cost was a capital cost or not (if it added to the value of the house, such as in the case of an extension.) This will have tax ramifications in terms of capital gains.

There is no doubt that people under estimate the work load involved in efficiently keeping records for a property portfolio but we are confident that this property management software will help to reduce that work load for you and effectively free up a lot of your time.

Get better organised today! At Property Portfolio Software we provide property management software and landlord software that are meant to help landlords and Property Managers. These unique property software solutions cover all the challenges that landlords face and are guaranteed to help you boost your property cash flow.