The Guild of Residential Landlords is thrilled to announce the launch of our latest innovation: Tenancy Manager. This cutting-edge platform is designed to simplify and streamline the management of rental properties, providing landlords and letting agents with a comprehensive suite of tools to efficiently track rents, manage tenancies, and communicate with tenants.
What is Tenancy Manager?
Tenancy Manager is a dynamic, online system integrated into the Tenancy Builder section of our website. It facilitates the tracking of rent payments and tenant invoices, making managing multiple landlords and properties a breeze. Whether you're a landlord managing a more extensive portfolio, an agent handling various landlord clients or a landlord managing properties for family members, Tenancy Manager is your go-to solution for efficient property management.
Key Features
- Overview Dashboard: Get a quick snapshot of your rental portfolio with a pie chart indicating which rentals are in arrears and which are not. This visual representation helps swiftly identify areas that require attention, allowing immediate action to be taken. More data will be added to this page over time.
- Landlord and Letting Unit Management: Easily add new landlords and letting units, making it perfect for agents or landlords overseeing multiple properties. The system supports everything from individual rooms in an HMO to apartments, houses, shops, garages and parking spaces.
- Tenancy Tracking: With detailed records of each tenancy, including rent history, increases, and invoices, managing the financial aspects of your properties has never been easier. The platform also facilitates sending rent reminders and tracking sub-meter readings.
- Designed for speed: We have designed the system primarily for speed and quickly accessing records. Rents are glanceable from a dedicated page, which can be filtered to show only arrears with one click (toggle at the top of the rents view).
- Statement run: For landlords managing family member properties or agents, Tenancy Manager can prepare a statement run showing rents received less deductions and commission. Each statement run uses 300 credits.
Getting Started
The Tenancy Manager is currently in preview (beta testing), and we welcome feedback to refine further and enhance its capabilities. For detailed guidance on setting up and utilising Tenancy Manager, including adding new tenancies, managing rent tracking, and setting up statement runs, please visit our support pages.
For users wishing to test the statement run feature (where rents are received for landlord clients or family member properties and passed to the landlord less deductions and commission), 300 credits are used. Please contact us if you would like some free credits to test this feature.
Please be aware Tenancy Manager is in preview, so there will be bugs and issues.
Quick Start Guide
Tenancy Manager is linked to tenancies created using the Tenancy Builder. It requires specific information to be selected in the Builder, such as the landlord, letting unit address, rent amount, and period. For a tenancy to be utilised within Tenancy Manager, specific options must be activated in the Builder, including toggling the use of Tenancy Manager and setting the next rent day.
For Existing Tenancies
If you have previously created a tenancy in Tenancy Builder and wish to integrate it with Tenancy Manager, a few simple steps will guide you through the process.
- From the tenancies list, select Enable TM Features from the actions button and enter the information as detailed below: * Select a landlord from the dropdown. If none are shown, click to add a new landlord. * Select a letting unit from the dropdown. If none are shown, add a new one. * Enter the rent amount, the first full payment date, periods and the next rent date as necessary. The next rent date must be in the future, and this is when our system will start adding rent due in the rent history table.
- Click save
- From the sidebar, go to Tenancy Manager -> All data, and you should see the landlord, which can be expanded to show the letting unit, which can be further expanded to show the tenancy.
- Go to the settings page from the sidebar and fill in all fields to send reminders and download invoices.
For New Tenancies
Creating a new tenancy for use in Tenancy Manager is straightforward.
- Create a new tenancy as usual, but ensure that you select a landlord and letting unit from the respective dropdowns. Add new if required.
- Select the toggle to use in Tenancy Manager on the last page. Ensure the requested information has been filled in and ensure the next rent day is in the future when the system will start automatically adding rents due.
- If importing an old tenancy, select save for later only (you don't need to create a PDF tenancy for use in Manager). You can save and build to generate the PDF as usual if it's an upcoming new tenancy.
- From the sidebar, go to Tenancy Manager -> All data, and you should see the landlord, which can be expanded to show the letting unit, which can be further expanded to show the tenancy.
- Go to the settings page from the sidebar and fill in all fields to send reminders and download invoices.
Future roadmap
We are working on adding inspections to Tenancy Manager, where you'll be able to track all types of inspections, including:
- Gas safety records
- Electrical safety reports
- EPCs
- Fire alarms
- Routine inspections
When that's completed, we will see what feedback we receive as to further modules we will add.
Conclusion
In conclusion, Tenancy Manager represents a significant leap forward in property management technology. It offers a holistic, user-friendly platform for landlords and letting agents to manage their properties efficiently, ensuring rent is tracked accurately, communication with tenants is streamlined, and financial management is simplified. Embrace the future of property management today with the Tenancy Manager.
