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Watch our short demo video to see how Landlord Studio can help your rental business.
Getting Started
After you download the app or create your account on our desktop portal you need to do a couple of things before you can start tracking your income and expenses.
Below we take you through the set-up process for your first property. If you’ve got all your information to hand this should only take you around 2 minutes to complete.
Part 1. Add your property
1. Type in your address in the app. We’ve integrated the app with Google Maps (only available on mobile), this will auto-suggest addresses allowing you to simply select from the drop-down.
Alternatively, you can choose to add your property address manually.
2. On the next screen double-check the address details.
3. Then add in a few extra details about your property such as the number of bedrooms, size in square feet, mortgage details, and valuation.
Your Net Gain/Loss are calculated automatically when Purchase Price and Current Valuation has been entered.
Important: If your property is a multi-unit ie. a duplex, triplex or condo make sure to mark the Multiunit /HMO toggle to yes.
Doing so will allow you to add the units to the building and then properly attribute income and expenses on a building and unit level.
Part 2. Add your units
HMO properties only
Click on the "Add Unit" card to add single units associated with your property.
Name them accordingly as you go. For example, Room 1, Room 2, etc.
If you are renting out multiple rooms in a single house to individuals you will want to add each room as a unit inside the property.
Part 3. Add your lease
Once your property is all set up you need to then add your lease details to start tracking income.
Tap on the add lease button on the property page.
Enter the lease details including the start date, end date, payment frequency, rent amount, etc.
Additional Features
Pro-rate auto calculator
To use this enter the payment due date eg. the first and set the lease start date to the date they move in. It will automatically calculate the amount of prorated rent owed.
Deposit Details
Enter the deposit, make a note of where it’s being kept, and create a reference to make it easier to manage.
Set a reminder for yourself to receive an email a number of days before the lease expires to ensure you don’t forget.
You can set a reminder email to automatically send a number of days before and after the rent is due to ensure that rent payments come in on time every month.
Part 4. Add your tenants.
Click on the add tenant card on the property page and this will allow you to connect a prospective tenant already added into the system or to add a new tenant to this property.
2. Enter their name, email address, and phone number as well as any additional notes you want to add in the notes section.
Make sure you enter their email address correctly otherwise you won’t be able to manage any communications through the app.
That’s it you’re all set up!