From Paper to Platform: Why It's Time to Ditch Spreadsheets in Property Management

Managing rental properties in the UK has evolved significantly in recent years. Years ago, everything was recorded and kept on paper records, from lease agreements to EPC ratings. Now, you sign lease agreements electronically, and everything can be done via digital.

While spreadsheets like Excel have long been the go-to tool for landlords and property managers, the increasing complexity of property management demands more robust solutions. It's no longer acceptable to manage properties via spreadsheet, and if you're still in that group, we can promise you're losing time and potentially revenue already. And let’s face it - spreadsheets aren’t exactly the easiest things to look at and take data and actionable insights from!

A comprehensive property management platform designed to streamline operations, enhance security, and save valuable time has many benefits for your business - we know, because it's exactly why we built togetha!

The Limitations of Spreadsheets

Spreadsheets are versatile and familiar, but they come with inherent limitations when looking at property management:

Manual Data Entry: Every transaction, tenant detail, and maintenance request must be entered by hand, increasing the risk of errors.

Lack of Integration: Spreadsheets don't integrate with banking systems, communication tools, or maintenance tracking, leading to fragmented workflows.

Security Concerns: Unless encrypted, spreadsheets are vulnerable to unauthorised access, especially when stored on personal devices or shared via email.

No Audit Trail: Tracking historical changes or communications is challenging, making dispute resolution more complicated.

As your portfolio grows, these limitations can lead to inefficiencies and increased administrative burdens.

The Advantages of Property Management Software

Transitioning to a dedicated property management platform like togetha offers numerous benefits:

Enhanced Efficiency

togetha automates routine tasks such as rent collection, lease renewals, and maintenance scheduling. This automation reduces manual workload, allowing landlords to focus on strategic activities that drive revenue.

Centralised Communication

All tenant communications are stored within the platform, providing a clear audit trail. This feature is invaluable in resolving disputes and maintaining professional relationships.

Compliance and Reporting

With built-in reporting tools, togetha simplifies compliance with UK regulations, including safety certifications. We automatically send out EPC ratings at the start of every new tenancy, for example, without you needing to do anything, keeping you compliant and free from the risk of fines. EPC requirements are due to change soon, which is worth keeping in mind for compliance considerations. togetha's Ai-enhanced finance reporting helps you to know exactly where you stand with finances, and to make the right decisions for your business.

Scalability

Whether you manage a single property or a large portfolio, togetha scales with your business, accommodating growth without added complexity. Spreadsheets simply can’t do this.

Addressing Security Concerns

Data security is paramount in property management from a logistics and a legal compliance perspective.

togetha employs AES-256 encryption, a standard recognised for its robustness and used by governments and financial institutions worldwide. This level of encryption ensures that sensitive information, such as tenant details and financial records, remains protected from unauthorised access.

AES-256 encryption is considered unbreakable by brute force attacks, providing a high level of data security

Time is Money: Reclaiming Lost Hours

Manual processes inherent in spreadsheet-based management consume significant time. Tasks like tracking rent payments, scheduling maintenance, and communicating with tenants can become overwhelming. By automating these processes, togetha frees up time that can be redirected towards activities that generate income, such as property acquisition or tenant engagement. Bonus benefit: togetha can help you reduce late rent payments and improve cash flow for your business. Check out our blog post for more!

But I'm Just a One-Person or Small Family-Run Business; Do I Really Need a Platform?

Absolutely. Even small-scale landlords face the same challenges as larger operations: ensuring timely rent collection, maintaining properties, and staying compliant with regulations. Relying solely on spreadsheets can lead to oversights and inefficiencies.

togetha provides an all-in-one solution that centralises all aspects of property management, offering features like automated reminders, maintenance tracking, and secure document storage. This comprehensive approach streamlines operations and provides peace of mind, knowing that all information is securely stored and easily accessible.

Final Thoughts

The landscape of property management is changing, and the tools used must evolve as well. While spreadsheets have served their purpose, the demands of modern property management require more sophisticated solutions.

togetha offers a secure, efficient, and scalable platform that addresses the challenges faced by landlords and property managers in the UK.

By transitioning from paper and spreadsheets to platform, you not only enhance operational efficiency but also position your business for growth and success in an increasingly competitive market.

Book a no-commitment demo to see how the togetha platform can benefit your business today.