Lendlord launches Open Banking for landlords
Portfolio management platform, Lendlord, has launched an Open Banking integration that allows landlords to automate their cashflow and bookkeeping.
Lendlord has been approved by the FCA to partner with Open Banking platform, Plaid, and enable users to link an unlimited number of bank accounts to their Lendlord account.
This integration will allow Lendlord users to fully automate their cashflow and rent collection and make it easier to manage their bookkeeping and tax returns.
Landlords will also be able to easily review their expenses breakdown and up-to-date profit and loss position across their entire portfolio.
Aviram Shahar, co-founder and CEO at Lendlord, said: “We have partnered with Plaid to deliver a great enhancement to the Lendlord platform. Landlords who make the most of this Open Banking integration will have greater visibility over the cashflow position of their properties and be able to automate key processes – saving them time and giving greater peace of mind.
“It will also help Lendlord users get better insights into their investment because it will improve the quality and credibility of the data they assess.”
Lendlord provides property investors with an online platform to manage and track their portfolio details, data, and performance, whilst also identifying finance and capital raising opportunities based on a user’s specific profile.
Since its launch last year, Lendlord has helped thousands of landlords to track the performance of their portfolios and improve the bottom line of their investments.
The risks surrounding the private rented sector and property investment are significantly amplified due to the Covid19 pandemic, Brexit, and ensuing economic fall-out. Therefore, landlords need to be more diligent than ever before about risk mitigation. Lendlord assists this process as a by-product of its core functionality.
It facilitates this by delivering smart and intelligent data and insights to support landlords in making wise investment choices, which in turn empowers them in growing high-performing, efficient, optimised, and therefore healthy portfolios.