8 systems & software to help with HMO management
In this blog, we provide ideas to landlords on some of the systems and technology that Relo uses to streamline the lettings and management process, thus saving time and cutting costs for property managers. We discuss eight systems and software that can help with HMO management.
System#1 – COHO
(Property Management Software for HMOs and Shared Living) https://coho.life/
Using multiple systems to manage HMOs and lettings can be a huge problem. COHO is a property management software platform that brings all aspects of managing HMOs, shared living, co-living rental properties, and tenants into one workflow. COHO is built for the future of shared living and property management, helping landlords save time and grow their business. COHO can help with tenant management, e-sign contracts, communications, rent, and maintenance management, documents and compliance management, finances, and much more. It is suitable for all property management business models, including individual landlords, HMOs, student housing, lettings, rent to rent, co-living, or any rental property management company. It is easy to set up and starts at just £1.5/unit. Landlords running HMOs or shared living should check out COHO.
System #2 – Made Snappy
360-degree Room Viewings www.madesnappy.co.uk
Virtual 360-degree viewings have been a game-changer during Covid 19 lockdowns. Made Snappy provides 360-degree room viewings and is highly recommended for landlords who want to conduct virtual viewings without physical visits to the property. Made Snappy provides the software for the 360-degree camera.
System #3 – Fixflo
Maintenance Requests and Repairs https://www.fixflo.com/solutions/lettings
Fixflo provides end-to-end maintenance and compliance management. It allows tenants to report issues and requests and has troubleshooting and how-to guides on the app. A custom QR code is available for tenants to report issues quickly. The app provides a branded app for the tenants and enables landlords to see what’s going on in their property and maintenance costs. Fixflo also undertakes all compliance management, making it easy to keep up with paperwork.
System #4 –Inventory Base
Inspections and Inventories www.inventorybase.co.uk_
Inventory Base manages all inspections, inventories, monthly maintenance reviews, quarterly room inspections, and fire alarm tests. It makes inspections and inventories super easy, with pre-set checklists on the software. A monthly and quarterly maintenance review checklist of 60 points helps identify any issues with the property. Photos of the property and reports are compiled into a PDF report, sent to the office or landlords to upload any issues to the CRM system or send the report to the landlords.
System #5 – GoCardless
Direct Debits www.GoCardless.co.uk
Landlords should not accept rent in cash and should have tenants set up standing orders to avoid late rent payments. GoCardless provides direct debits that help landlords collect rent efficiently and avoid late payments. It is easy to set up and use.
System #5 – Xero
As a landlord, you need to be able to keep track of rent coming in as well as all outgoings like mortgage payments or maintenance bills and one of the best ways of doing that is to have an accounting package. Relo uses Xero but there are others such as Sage and QuickBooks. Xero keeps track of everything and produces P&L statements for us meaning we always know what’s going on with the finances in the business. The best thing about Xero is it integrates with our CRM software for all the rent payments meaning we never lose track of what’s what!
System #7 – Whatsapp
Relo has found Whatsapp to be great for tenant communication. We set up a Whatsapp group for each house which our lettings or property managers can just write on to ask a question to let the tenants know something such as if we require entry or maintenance works or viewings or when a new tenant Is moving in. Free and worth setting up separate groups for each property so you can communicate easily and quickly with your tenants.
System #8 – Key Safes
Access and Maintenance
Last but not least, one of the best little systems Relo introduced a few years ago has been to add key safes to each property with a set of keys or master key in either allowing maintenance men access so we don’t have to come and meet them each time or tenants if they lose their keys can just ask for the code to at least get inside the house as well as if one of the property or letting manages forgets the right keys! (Which happens more than we like to admit)! You can buy them from Screwfix for £20 however these can easily have the code left on people’s screens and cause a potential break-in. This is the one we use: https://keysafe.co.uk/products/police-preferred-key-safe/c500-keysafe.html
We hope these suggestions have provided you with some valuable insights on how to systemize and streamline the lettings and management of your HMO properties.
If you find these systems appealing but are hesitant to go through the process of setting them up and learning how to use them effectively, why not leverage Relo’s existing systems? We can manage your HMO properties for you, utilizing all of these systems, and save you the hassle. To learn more, contact us at 0333 444 0423 or email us at email@example.com. You can also visit our website at www.relorooms.co.uk.