Being a landlord can be a stressful business, especially if you own more than one property - but new technology is making it easier than ever to manage your buy-to-let portfolio.
This week sees the launch of open banking - a new way to share your financial data to get better deals. It's been hailed as a potential revolution for the way we manage our money.
But how can landlords take advantage of the latest tech? Which? rounds up the apps which can help you track your expenses, manage your properties and even find new tenants.
Aside from making sure rent is collected on time, landlords need to keep track of a number of other factors - including important repairs, safety certificate expiry dates, lease terms and outstanding bills.
New apps now offer landlords the ability to manage multiple properties from a single platform.The , which is backed by Direct Line, allows you to track your income and expenses, and calculate your return on investment, on up to five properties. You can also set important reminders for key dates and bills due. The app is free to download.
offers a dashboard where you can see all rent collected, outstanding amounts, and your overall cashflow, then generate reports. You can also create a profile for each property with all your tenants' relevant details, and contact them through the app. It's priced per property, which each costing about £6 per year.
With any app where you enter your financial information, make sure you understand what protections are in place - your data may be vulnerable to third party hackers. Be careful as well about how securely you store your tenants' information, to make sure you safeguard their privacy.
Advertising for tenants online has become commonplace - but some new apps are taking it a step further, offering referencing services and even digital contracts.
The mobile-optimised site allows landlords to list their properties on portals for a £20 fee.When tenants apply for a property listed by the app, Rental Step provides you credit checking, a landlord reference and an employer reference for that applicant. You can also use the free tenancy contracts to sign a new lease.
The appallows tenants to apply online and arrange a viewing with you through the app. If you want to approve the applicant, you can then agree to terms, conduct reference and right to rent checks and draw up a tenancy agreement online, with both parties using DocuSign to electronically sign the document.
, meanwhile, connects landlords with tenants that have previously been verified by the app. The platform also offers up to £20,000 in insurance for damage or arrears, rather than taking a deposit from tenants - although you should check their terms carefully and consider whether that would work for your circumstances.
Knowing how much a property sold for previously can help you decide how much you should offer today. The free app collects all land registry data in an easy-to-use format - or you can check directly on
Conducting a thorough inventory before your tenant moves in can save you a headache when they move out, especially if your property is furnished.
If you want to work out your finances, you don't necessarily need an app - or even a calculator.