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Is your software up to date?

Is your business software up to date? It could be a crucial investment for your lettings business, says Marc Da Silva.

PROPERTYdrum

up-to-date-software Last year’s technology failures at Royal Bank of Scotland Group Plc (RBS), which left some customers unable to withdraw money, is a stark reminder that selecting reliable software is crucial to ensuring that your business works efficiently.

“Relying on out of date software is always a false economy.” Paul Hunt Phoebus

paul-hunt-phoebus“This is a prime example of the dangers when businesses don’t keen their software up to date,” said Paul Hunt, MD, Phoebus Software. “It proves that as tempting as it is to pare back the IT spend, relying on out of date software is always a false economy.”

While selecting a letting agency software package may not be quite as fundamental as RBS’ IT system, it does highlight the need for all businesses to assess IT structures to ensure that they have the most appropriate software to enable their business to run smoothly.

“New technology frightens people, but those who welcome it can gain rich rewards,” Hunt added.

LETTING AGENT SOFTWARE

Information technology is a major investment for any small business – and computer software is a key part of that investment. Software not only makes a hardware perform important tasks, but also helps a business work more efficiently; it’s a crucial business asset, so agents should choose their software carefully to match their business needs.

Oliver Gleave of Jupix commented, “An overwhelming benefit of using a software system is that everyone has access to the same, most up to date data. Additionally, agents can act upon leads as soon as they come in, following up every opportunity quickly and efficiently.”

There is a host of providers offering different types of letting software, all designed to make your business work more effectively.

Gary Whittaker at Rentman, said, “Choosing the right lettings software package can make a huge difference to a letting agent’s business, which is now more regulated than ever and this will inevitably escalate. Controlling finances, adhering to regulations and communicating effectively are paramount. Errors can be costly, if not disastrous for an agent, so an effective and cost effective software solution is vital.”

Whether choosing a desktop or cloud based (accessible online) letting software package – many of which are available with no costs for training or set up – they o er a wide range of benefits, including comprehensive management, accounting, marketing and administrative tools, among a host of other features.

Ben Robinson of ETSOS says, “Both online and locally based software systems of all kinds are designed to make time savings and reduce administration cost. In a busy lettings market with a lot of competition these benefits can make you stand out to the client as well improving your bottom line.”

Changing legislation is also a potential risk, says Steve Barker, Sales & Marketing Director at C.A.R.L., “In order to take advantage of the latest features of your letting agent software, it is absolutely essential that it is kept up to date through regular Updates or Upgrades.

“In addition to the latest features, Updates & Upgrades could include vital changes documentation following changes in legislation, such as the recent introduction of the deposit schemes and the new Tenant Information Packs in Scotland.”

And these new rules can arrive with very little notice, says Glyn Trott at LetMC, “As a software supplier we don’t always get much notice prior to regulatory changes, such as the recent changes to EPC visibility in marketing material or new Deposit schemes, so having the ability to make a change quickly, that we know is compliant and being able to release it to all our clients is important to us, we don’t think our clients should have to buy a new version of our software for something that is out of their control, its is an unnecessary cost and is more time consuming.

“One of the best things about having software that ‘bang is up to date’ is the flexibility it gives you to develop your business model, for example Cloud Computing allows you to access the software where ever you are, from any device with an internet connect and is scalable so grows with you as a business.”

PROPERTY MANAGEMENT

Through most good letting agent software packages, a full audit trail is recorded against each property to act as a historical file, with full tracking and instant messaging, supported by a dedicated account manager, allowing rent payments, agency fee deductions and landlord outgoing payments to be monitored, while email, SMS and one-click document can easily be produced.

Additionally, job sheets and maintenance work can be booked, tracked and reconciled with payment, while risk management report checking and ordering are generally available, including anti money laundering and flood risk to assist compliance with the Consumer Protection Regulations.

Lettings software should provide the required functionality to produce all your fully compliant legal documentation.”

lettings-software-legal-comManagement tools also allow agents to conduct all necessary tenants referencing and utility management, as well as upload tenancy deposit registration details to a Tenancy Deposit Protection scheme and retrieve end of  tenancy refunds.

Gas Safety Certificates and property inspection reminders can also be booked in, ensuring that all daily, weekly and monthly tasks are met.

Some letting and property management software packages are accredited by either the Institute of Chartered Accountants in England and Wales (ICAEW) or the National Approved Lettings Scheme (NALS), while some are accredited by both. This is in addition to being ARLA, RICS, NALS, NFoPP and Law Society compliant.

“Our Management facilities section provides an overview of all crucial aspects of a letting business including current stock levels, applicant numbers, number of properties under o er, expiring Gas Safety Certificates and renewal documents which are outstanding,” said Simon Whale, Director, Reapit, which has recently received recognition of its high standards with accreditation from the ICAEW and becoming an approved supplier from NALS, for its Client Accounting software.

Mark Goddard of GMG Property Services said that top accreditation and support, “can give lettings and property management agents the vital edge required to enable them to provide the highest level of service to their landlords and tenants”.

LEGAL COMPLIANCE

Most software packages provide the ability to order Energy Performance Certificates, full photographic inventories, gas and electrical safety checks, anti-money laundering checks, risk management reports, an audit trail, landlord tax returns, legal notices, tenancy agreements, letters – these are just some of the features commonly available.

Working within the set regulations, letting software generally provide a comprehensive library of legally approved letting templates documents and practices, which are usually fully compliant with industry standards.

Mark Howlett, Commercial Director, Technology Blueprint said, that letting agent software “provides the required functionality for Tenancy Deposit Registration and permits the production of Tenancy Agreements and other legal documentation required.”

LETTINGS SOFTWARE PACKAGES:

Here is a brief guide to help you understand some of the different types of leading letting and management agent software available, enabling you to choose the most appropriate for your business:

ASPASIA

Aspasia, based on Oracle database engine, supports the entire lettings cycle, allowing agents to share common information without any data duplication, while client accounting and property management features are comprehensive. The single database is accessible to all, while there is an extensive list of user-friendly reports available. Customer service benefits include the ability to handle landlord accounting queries, while landlords can view property details prior to marketing to ensure they meet with their approval. Meanwhile, tenants can register maintenance requests online 24/7.

C.A.R.L.

Steve Barker says, “We are constantly innovating at Propsoftware to deliver the latest innovation and improvements to the C.A.R.L. software. In order to ensure that we are not developing software in isolation, we work with a small number of select agents across the UK, who help shape the direction of the product development. “The result is a constant stream of innovations and improvements, such as the new itop, which provides the agent with up to date information about new products and services, that are designed to save the agent time and money.” C.A.R.L. has also introduced a range of services from our partners, to include the provision of a free Legal Helpline, Tenant Trace Service and an App based Inventory application.

CFP Software

CFPwinMan, which meets various legislative requirements, is a lettings and property management software solution designed to simplify all your financial administration, thanks to full deposit protection facilities, simple ‘tick off’ bank reconciliation, multiple payments facility, standing order imports from banking software and a complete double-entry client cash accounting facility. To complement CFPwinMan, GMG Property Services also offers customers an outsourced client cash accounting software, CFP Solutions.

Estates IT

nick-hubbard-estates-it-sofPCHomes and PCHomes Plus are designed to improve marketing, administration and customer management tasks. Main letting and property management benefits include property portal uploads, the production of window cards and property lists, applicant and property matching, email, text and mail shot tools, management reports and multi-branch interfacing. Additional features include media management, watermarking of photos, off-site backup, a diary for viewings, valuations, appointments, meetings, gas checks and management visits, while the Property Management Suite handles all admin and client accounts.

ETSOS

ben-robinson-etsos-softwareETSOS offers an online platform which allows EPC, inventories, gas and electrical safety checks and many other products to be ordered, tracked and managed. Its platform also has instant reporting that can be used to check property hazards, such as flooding and subsidence, to help ensure that relevant information is known about the property upfront in line with the consumer protection regulations. They also offer a flexible payment system which allows the agent to be invoiced or ETSOS to collect the payment from the client, including any admin fee required which is then paid back to the agent monthly.

Jupix

oliver_gleave_jupixFrom appraisals to tenant referencing, Jupix offers a complete property platform accessible under one complete system. Data is saved and backed up to the cloud, while all new properties can be uploaded to various property portals. Top features include, property matching tools, dedicated client interaction, easy applicant viewings and appointment reminders, as well as dedicated property reports, which include an overview of the property’s marketing summary, number of website hits and the volume of viewings that have taken place.

LetMC

letmc-softwareLetMC has built in a Land Registry search tool to their software, which allows agents to quickly check if a landlord owns the property that they are asking you to manage and also speeds up the process of direct mailing landlords when a property is being advertised by another agent. The agent can simply enter a house number and postcode to the tool or search through any property already existing in LetMC, this will then connect to the
Land Registry and tell the agent who owns the property and their registered address. This informations is returned in seconds and stored on the software to be used as needed.
You can see a demo of land registry on LetMC YouTube channel www.youtube.com/user/letmctv

PROPCO

mark_howlett_popcoPropCo™ Enterprise from Technology Blueprint Limited provides a sophisticated Statistics Suite which enables production, monitoring and visibility of Key Performance Indicators. It covers various aspects of the letting business, from business generation through to marketing; it feeds information about properties to portals, applicant matching and property appraisals. Tenancy management handles maintenance issues, financial accounts and produces documents. Clients can view and retrieve information through PropCo™ Web, while agents can operate on the road via PropCo™ Mobile.

REAPIT

simon_whale_director_reapitReapit’s ICAEW and NALS accredited RPS software offers detailed functionality across each discipline. RPS provides automatic applicant import, touting tools, outstanding works order updates, automated bank reconciliation, single payment method, and business work flow, amongst other features. Properties can be automatically updated to portals, AST deposits registered, while electronically signed documents can be sent and
received. Extensive management reporting includes current stock levels, applicant numbers, properties under o er, expiring GSCs, tenant arrears, aged debtors and deposit release times, among other features.

REALCUBE

RealCube uses the latest .net technology to present what they describe as the best estate agency software available, “Our unique design lets you to work locally, onine in your office and on the move, from your PC, iPad, or Mac”, says Mark Eliot, RealCube’s Product Manager. “Our product has all the features and functionality of traditional software but delivers much more flexibility and it won’t cost you the earth – no expensive up front licences, you simply pay as you go and because we keep our overheads down you’ll find our prices very affordable.”

RENTMAN

gary-whittaker-rentman-softwareRentman’s software offers property portal uploads, instant applicant and property matching, property details, to let board tracking, crucial documents and reports, bulk mailing, along with other advantages. Administrative benefits include tenancy deposit protection, referencing, tenancy agreements, key manager, letter templates and a diary. Accounting features include rent collection, management statements, invoices, accounts summary, while management benefits include information about contractors, maintenance and tasking, job sheets. Safety certificates, HMO licences, insurance premiums, EPC certificates, among other documents, can also be arranged.

estate-agent-software-robot

Contacts:
Aspasia www.aspasia.net
C.A.R.L. www.propsoftware.co.uk
CFP Software www.cfp-software.co.uk
Estates IT www.estatesit.com
ETSOS www.etsos.co.uk
Jupix jupix.com
LetMC www.letmc.com
PropCo www.propco.co.uk
RealCube RealCubelive.co.uk
Reapit www.reapit.com
Rentman www.rman.co.uk

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June 12, 2013

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