Cornerstone Accountancy in North London is proud to partner with Hammock, the specialist accounting platform for landlords.  Hammock can help landlords record all rental property income and expenses and provide real-time information.

Save time, remove the hassle.

As a landlord, managing your rental property income and expenses can be a time-consuming task. You need to keep track of all your rent payments, bills, and other expenses, and make sure that you are compliant with all of the relevant tax laws and regulations.

This is where Hammock can help. Hammock is a software platform that is specifically designed for landlords. It allows you to record all of your rental property income and expenses in one place and provides you with real-time information on your financial performance.

Here are some of the benefits of using Hammock:

• Save time and hassle: Hammock automates many of the tasks involved in managing your rental property income and expenses. This means that you can spend less time on paperwork and more time on other important aspects of your business.
• Get real-time insights into your financial performance: Hammock provides you with real-time information on your rental income and expenses, as well as your overall financial performance. This information can help you to make informed decisions about your business.
• Stay compliant with tax laws and regulations: Hammock helps you to stay compliant with all of the relevant tax laws and regulations. It automatically calculates your rental income and expenses and generates reports that you can use to file your tax return.

Easy recording

Here are some specific ways that Hammock can help you to record all of your rental property income and expenses:

• Rent payments: Hammock allows you to track all of your rent payments in one place. You can see when each rent payment is due, and when it was received.
• Bills: Hammock allows you to track all of your rental property bills, such as mortgage interest, insurance premiums, and repairs and maintenance costs.
• Other expenses: Hammock allows you to track all of your other rental property expenses, such as letting agent fees and advertising costs.

Real-time insights and information

Hammock also provides you with real-time information on your financial performance. This includes information such as:

• Rental income: Hammock shows you how much rental income you are receiving each month and year.
• Expenses: Hammock shows you how much you are spending on expenses each month and year.
• Profit: Hammock calculates your profit from your rental property business.

This information can help you to make informed decisions about your business. For example, you can use the information to see which properties are performing well and which properties are not performing so well. You can also use the information to budget for future expenses.

Hammock also helps you to stay compliant with tax laws and regulations. Hammock automatically calculates your rental income and expenses and generates reports that you can use to file your tax return.

Overall, Hammock is a valuable tool for landlords. It can help you to save time and hassle, get real-time insights into your financial performance, and stay compliant with tax laws and regulations.

Here are some additional tips for using Hammock:

• Set up Hammock properly: Make sure that you enter all of your rental property income and expenses into Hammock accurately. This will ensure that you are getting the most accurate information about your financial performance.
• Review your Hammock reports regularly: Review your Hammock reports regularly to see how your rental property business is performing. This information can help you to make informed decisions about your business.
• Seek professional help if needed: If you are unsure about anything, you can seek help from a qualified accountant or tax professional.

Conclusion

Hammock is a powerful software platform that can help landlords record all of their rental property income and expenses and get real-time insights into their financial performance. If you are a landlord, I encourage you to consider using Hammock to make your life easier and to improve the profitability of your business. 

Cornerstone Accountancy has a proven track record using the Hammock accounting platform and we can answer all your questions on a free no no-obligation call.