FreeAgent for Landlords
FreeAgent for Landlords is a combined banking and accounting platform for private landlords that takes the stress out of managing a property portfolio.
Available now as a managed service through David Howard Accountants – get in touch to find out more.
For private landlords, we understand that managing a small portfolio of buy-to-let properties can be time-consuming and stressful.
To save time and simplify the process, we recommend FreeAgent for Landlords, an easy-to-use accounting solution that is an excellent choice for landlords and property investors and is tailored to their financial and accounting needs.
With Making Tax Digital (MTD) on the horizon and effective from April 2024, landlords who previously did not need accounting software will be forced to submit quarterly returns to HMRC using approved software. FreeAgent provides a very cost effective Landlord solution to help you comply and give you control over your finances.
What is FreeAgent for Landlords?
FreeAgent is straightforward, jargon-free accounting software that allows landlords to set-up clients, manage project finances, track income and expenditure, and automate invoicing for each individual property.
Suitable for ‘unincorporated’ individual landlords as well as Limited Companies, Freeagent has benefits of property tracking over other online accounting products, and is available
free if you have a business current account with NatWest, Royal Bank of Scotland or Ulster Bank NI, or a business account with Mettle, for as long as you retain your account.
- Bank feed integration: link FreeAgent for Landlords to your personal or business bank account to import transactions for easy viewing and reconciliation on the platform.
- Expense tracker: input expenses for each individual property whenever you need and digitise receipts to retain them securely.
- Automated invoicing: set-up and send invoices from the accounting software in seconds or generate recurring invoices automatically to ensure you don’t miss a single payment.
- View property profitability: attribute costs to each property in your portfolio and track their profitability, so you can make informed decisions to increase your rental income.
- Essential accounting tools: automate many aspects of the accounting process with recurrent invoicing and invoice payment links.
- MTD compatibility: automatically generate MTD VAT returns and file them to HMRC and, as a sole trader, complete and file your Self-Assessment quickly and accurately.
What benefits does FreeAgent for Landlords offer?
- Landlord specific software: property specific reporting and control of income and costs
- Free with certain bank accounts: is available free if you have a business current account with NatWest, Royal Bank of Scotland or Ulster Bank NI, or a business account with Mettle, for as long as you retain your account.
Simplify your financial affairs
Many unincorporated landlords operate without a dedicated business bank account for their rental income, which can complicate their tax affairs. A dedicated bank account, such as NatWest’s free business bank account, Mettle, will separate your personal and property finances and eliminate the need for an accountant to sift through each transaction, making tax return reporting simple and minimising accountancy fees . It means that you cannot miss accounting for expenses and the reporting is produced directly from the transactions that are all channelled through the bank account.
If you sign up for a Mettle account, the FreeAgent software is included free of charge, with no transaction charges or monthly fees.
Gain better insights into your portfolio’s profitability
FreeAgent for Landlords is designed with the needs of landlords in mind, such as the property display dashboard that allows different properties to be quickly compared for their profitability.
Automate the recording of your rental income
With FreeAgent for Landlords, you can benefit from a streamlined and automated recording of your rental income. The software will ‘remember’ important transactions, such as insurance premiums, and classify them, accordingly, giving you greater certainty over your expenditure and cutting the time you spend analysing transactions to calculate your properties’ profitability.
Find out more
If you would like to simplify your property rental accounting, please contact David Howard today.
We can set-up your property projects so you can input your income and expenses and gain instant visibility of your finances, without the need for cumbersome and complicated spreadsheets.
We offer a FREE one-hour initial consultation which will help you to find out more about the benefits of FreeAgent so, to arrange yours, please contact us on 020 8970 7730.
Contact us to arrange a free meeting
Please contact us now to arrange a free 1 hour meeting to see how we can help you.