DO YOU KNOW YOUR PORTFOLIO?

Recent research shows that 33% of landlords still use spreadsheets to manage their portfolio finances with a further 12% reverting back to pen and paper.

From April 2024 landlords with annual revenue in excess of £10,000 will need to submit quarterly tax assessments in addition to an EOFY submission adding copious amounts of increased administration and record keeping. This, along with the growing pressure to achieve EPC ratings of C or better will push some property owners to the brink and often over it.

The first key step is to understand your portfolio and where your £££’s are going in tune with building a strategy to ensure that you maximise yields over prolonged terms.

Property condition audits/inspections are that first key step to understand the make-up of your assets, to fully be able to gauge areas where to invest and where to divest. This will give you a ‘health check’ of the portfolio and enable a plan to be put into place around long term improvements that are either ‘would likes’ or ‘must haves’. For example the carbon footprint of a property portfolio is often not known or not known in detail. Ignoring this could create a funnel whereby large financial outlays could present themselves as we creep toward 2030 and subsequently 2050.

Robust, agile software such as the offering from Spydertech will provide landlords of all sizes a tool to be in control of their assets and ensure they are keeping their investments in the best possible condition to maximise the life span whilst delivering reasonable returns. With a bespoke platform to inspect all facets of the property that will help landlords make concise, informed decisions coupled with a work flow management system to ensure detailed historical data is stored providing a single source of truth and will be used to shape future works and identify trends before they become expensive issues. www.spydertech.net.au

Spydertech’s flagship product, ‘Spyderflow’ is an iteration that has been used in Australia’s social and public housing industry for over 20 years servicing upto 40,000 homes in some instances and comes with a depth of knowledge and experience that is the backbone of what this has been built on along with some cutting edge modern additions.

With modern demands of landlords increasing almost daily and yields moving in the opposite direction the clever deployment of technology is essential if property investment is to remain a viable vehicle to ensure the industry survives.

If you would like to hear more about how Spydertech may be able to assist you please reach out to us through info@spydertech.net.au and the team would be happy to discuss further.

KAM DOVEDI FOUNDER PREMIER PROPERTY GROUP