Websky launches software aimed at saving money for private landlords
Websky Ltd’s Expert Landlord guides private landlords through the letting process, with the aim of saving them time and money. It provides “expert” help for each scenario to save the cost of solicitors’ charges and letting agent fees.
The software is driven by “Expert Wizards”. It contains a set of compliance letters, notices and agreements supplied by The Letting Centre, the UK’s leading residential letting law expert. It also has a cashbook function, enabling landlords to control such key functions as rent, expenditure and outgoings. Expert Landlord also integrates with online insurance and reference checking agencies.
A financial monitoring section enables users to study expenses and income of their portfolio in great detail and is engineered to make it compatible with Inland Revenue expense categories, assisting the production of tax returns in the approved format. It also features mortgage overviews for each property in the landlord’s portfolio, which can be exported into Microsoft Excel format, and a potential purchase planner, assisting the user to assemble a detailed proposal for presenting to their financial advisor.
The software includes access to an innovative Live Help service manned by letting agents.
The software has been produced by Websky founders Mike Griffiths and Pete Mackay who each have experience of the software and property sectors.
“We realised some time ago that, despite the fact that there are all sorts of legislative demands and responsibilities inherent in renting, private landlords are pretty much left to fend for themselves,” says Mike Griffiths. “There are at least 40 pieces of legislation that landlords must comply with. Failure to comply with seven of these can result in a prison sentence.
“We have already established some strategic partnerships with lenders and intermediaries which are proving an excellent symbiosis, and we are looking to build on this by offering the software to other resellers and introducers.”