Bartram Lettings already manages the portfolios of two long term private landlords, with as many properties as many a small letting agencies, but are not seeking any more landlords at this time.
Behind the scenes there is a team of experienced property management experts who are only too aware of the time and staffing involved in doing the mundane, time consuming jobs of logging rents, entering contractors’ invoices, chasing rent payments, balancing accounts and then paying landlords. This process absorbs an inordinate amount of time and requires high staffing levels.
We aim to automate this, leaving more time for us to let and manage our landlords’ properties and enable us to offer very competitive agency fees.
The company is therefore embarking on an adventurous and ground-breaking process of establishing and thoroughly testing a fully bank automated landlords management software system.
The fully automated banking system will process all incoming and outgoing transactions, in real time and is already up and working for our two landlords but we are still testing and evaluating all aspects to ensure it is fully operational’.
The same-day payments system that will pay landlords and suppliers on the day the rent is received using a bank integration system of live transactional information. It will automatically detect receipts and know who paid it will then calculate contractors approved payments, agency fees and then instantly work out how much of the rent needs to be paid to the landlord.
All payments are ring fenced so that we can never accidentally pay landlords or contractors with rent from the wrong tenant all with Bank-grade payment security and audit trails.
All communication will be automated so we will never forget to send an invoice, receipt, reminder or statement.
When we are fully happy that the systems that we are putting in place are fully functional and we have established ourselves in our new offices, we may then look to expand the portfolio and invite other landlords to let us manage their portfolios.