Great job with the current fundraise, looks to be going very well!
With all the functionality that’s now live in the app I thought I’d hook up the bank account that we use solely for our BTLs and see what got spat out the other end… (Owned personally, not SPV).
The data is looking pretty good, so it just seems to me like an obvious additional niche to target. With a bit of tweaking to expense categories and some extra functionality for mortgage interest deduction you would have an ideal product for landlords with few decent competitors.
There are some established ‘property management’ software solutions for landlords who are very involved in management of their portfolios like Landlord Vision and Arthur, but for someone like me who just has one or a few BTLs and simply wants a quick overview of the income tax position and incoming rent etc it would be great, this is currently very manual to extract and calculate and I’m sure a lot of people still just use a spreadsheet or don’t track at all and then just get in a muddle once a year when sorting their tax bill (but many would have a separate bank account dedicated to their BTL income/spend).
For landlords who do self-manage (rather than using an agent), the invoicing functionality would be a much more streamlined version of existing platforms too. The Landlord market is also very engaged, they have great podcast listening rates, active forums etc so could be an ideal niche to target all the way from amateur/accidental landlords with one property to professional portfolio landlords.
Vaults will also be a great feature, it’s normal to set aside pots for maintenance, voids, service charges etc. It’s like you’re building a product for them without realising!
Just a thought