Morgan Property Limited owns as well as manages a diverse property portfolio including Houses in Multiple Occupation (HMO), Commercial property and Air Bnb rentals. The business had got to the point where it needed more than a spreadsheet to manage the properties.
Client Key Issues
Manual management of properties
No formal accounting process
No KPI’s / reporting on properties
What we did
After reviewing the market, the client felt that Arthur gave the best solution to cater for the different property types that the company manages. The software tracks all aspects of each individual property from new tenants, to managing rents and maintenance.
One of the biggest attractions was that Arthur seamlessly integrates with Xero, resulting in no duplication of time inputting information into the property management system and then into the accounting system.
We set the client up with Xero and worked with both the Client and Arthur on the integration. Initially through a conference call to ensure that Arthur had picked up everything from a property management perspective and then finally from an accounting perspective.
Once the integration was completed Arthur then demonstrated the integration and how both pieces of software worked, followed by a question and answer session with myself and the Directors.
The client now has software that works with them to manage the property portfolio, this software seamlessly integrates with Xero (without even having to click a button). From an accounting perspective 75% of the inputting has now been automated.
As well as saving time from an automation perspective, the Arthur Xero integration enables the client to have financial reporting by property in real time. So not only is the information more detailed, it is up to date. The directors are now in a position where they can make informed decisions about individual property’s and ultimately make them more profitable.
I just wanted to add a note from my perspective on this case study, we work with a number of landlords and letting agencies that use different property management software including Expert Agent, Rentman and Payprop. We have managed (after teething problems with all systems) to import information into Xero which meets HMRC basic requirements for MTD, but none of them can report into Xero by property without a lot of manual intervention.
Arthur genuinely is seamless there is no manual importing, the software does it for you, where there have been slight abnormalities the team at Arthur have been on hand and resolved any issues. The automation does work and once Go Cardless is implemented the full automation will see technology at its best, saving time and giving more meaningful information.
This is the perfect example demonstrating how Xero is much more than a piece of accounting software, with the right apps connected it provides a full business platform.