Ten questions about PM3S
PM3s is the 4th generation of our Free Property Management Software. The software has been free to use since 2006 and we now have thousands of landlords using it as a digital root to get organised.
The PM3s cloud based software frees landlords to manage their portfolios from anywhere.
If you haven’t already, please sign up for an account and have a play, its free to use, forever.
In this article, I’ve picked out ten tips & features of the PM3s software from our Landlord Forum:
1. How do I download an Assured Shorthold Tenancy Agreement?
You just need to register an account, sign in, then follow these simple steps.
2. Why has my data dissappeared?
We have allowed users to sign up for more than one account using the same email address and this has sometimes led to confusion. Users may have more than one account but not realise, and some landlords have logged into one account, panicked and thought that they have lost all their data, when in fact it is in an alternative account. To switch between your accounts have a look at this posting.
3. It is possible to hold your buy-to-let within a company?
There may be certain capital gains tax advantages of a corporate ownership structure but you will need to take expert tax advice on this. If you do let your property out through a company then find out how to enter a company through the sign up forms here.
4. Can I generate a report for a tenancy?
PM3s does contain a basic reporting package, creating a list of rents and payments for a specific tenancy.
Heres how to create a tenancy report.
5. How can I manage multiple portfolios using PM3s?
Multiple portfolios can be managed in PM3s using a single ‘supervised account’. To see how to create and organise multiple accounts have a look at this section within the Forum.
6. Does PM3s monitor cashflow?
One of the most useful metrics for a landlord is ‘cashflow’. This is not profit. Profit when it comes to a property accounts for the change of capital value and the rent received. The cashflow tool can be found under the Investment tab on the left hand side in your PM3s Toolbar.
7. Does PM3s calculate my tax liability?
Yes, PM3s can calculate and record an individual landlords income tax liability, ready to submit to HMRC through your annual tax return.
8. How do I change my personal details in PM3s?
This is how you update personal details including their email address within PM3s.
Do be aware that if a landlord does move, and their personal home address changes from the one on the tenancy agreement, they will need to serve the required Notice on their tenant under s.48 of LTA 1987.
9. Can PM3.0s manage HMO properties?
Yes. To have a look at how to manage HMO property using PM3s have a look at this post on the Forum.
10.Can I upload documents to PM3s?
Yes, here’s how to upload documents to your PM3s account.
There is always room for improvement, so if you have any ideas to improve PM3s then please post your thoughts here in our Forum.
We will look at incorporating it in our next round of upgrades in the much talked about PM4…
The Property Hawk Team