How small landlords can grow their property portfolio with Hammock
04.11.2020
3 min read
25.01.2023
7 min read
Landlords with large portfolios or small landlords, we created Hammock to help all landlords save time and money in the management of their property finances. The admin required to keep the cash flow in check and to stay on top of bookkeeping can easily absorb all of a landlord’s energy. This is clearly a big headache for landlords with large portfolios. It is also an ongoing challenge for small landlords, who struggle to find the time to focus on the most important aspects of their activity and often lack a landlord software for small business. Since it takes so much time and effort, admin ends up preventing them from focusing on what matters most: developing and growing their investments.
Nathan is a Hammock user who’s currently managing 2 properties. And he’s just getting started. Nathan tells us how Hammock, as a property finance management software for small landlords, is helping him on his journey to expand his portfolio.
I used to do what most landlords do (small landlords, as well as landlords with larger portfolios). I set myself up with a spreadsheet and started making notes about movements in my cashflow. After some time, one spreadsheet wasn’t quite enough to keep track of everything, so I’ve added a few others to the mix. Once I found myself with more spreadsheets, I started filing them away in folders. Soon, I was spending longer than I’d ever thought browsing through a mix of folders and spreadsheets.
Hammock has cut down my monthly admin massively
I started looking for a solution to make my small landlord accounts quicker to update and read. I also wanted an easier way to keep my tenants’ info up-to-date. After some research on Google, I came across Hammock. Hammock does exactly what I wanted it to do.
If I had to pick one feature, it’d definitely be the ability to track all transactions, both as an overall and segmented per property. Being able to keep track of the performance of my portfolio overall, and at the same time to zero in onto the sub-totals for each property has cut down my monthly admin massively.
Hammock helps you manage small portfolios efficiently from day one, which gives you confidence as you scale up
Hammock helps you manage small portfolios efficiently from day one, which gives you confidence as you scale up. Not getting lost into the search for each expense into multiple bank statements saves me time and helps keep my mind fresh, so I never lose sight of the bigger picture.
Through these crazy times, it’s so important to systemise to free up your time to focus on buying more properties, adding value and getting in the right tenants. I highly recommend Hammock along with OpenRent as the ultimate combination of property finance management software for small landlords.
Hammock automates rent collection and bookkeeping. Hammock manages the reconciliation of property income and expense in real-time and provides notifications and alerts. Landlords can access Hammock 24/7 to stay up-to-date on the return on their property investment. Our users can also have access to a UK current account and card dedicated to their property finances, included in our monthly fee. And did we mention that you can try Hammock for free?
