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After many months of hard work, we now have some exciting news. The new Landlord Vision is now at the point where we can start moving our existing customers over from the legacy version. However, we can’t migrate everyone, at least not yet. Please read on and see if you are one of the people who can migrate in this next phase.
Overview of the Landlord Vision Migration
With the completion of the final property sections (Target Rents, Property Gallery etc), the new Landlord Vision now has all of the data of the legacy version. However, it does not yet have all of the features of the legacy version and we are still working on those. This means that you can store all of the information from the legacy version in the new version, you just can’t do all of the things that the legacy version does. In short, the new version now fully supports all users on the Quick Start and Essentials plans, and some of the users on the Plus plan. If you are on the Plus plan, please see the lists below of what features are and are not supported before you look to make the switch.
As has been explained elsewhere, the new software is very different from the legacy one in the back end and is not a like for like replacement. The accounting engine in particular is just too different to completely transfer all of the data across and still be confident that it is correct. So while we will look to move the static data over including properties, tenancies, and their related data, none of the accounting data will be transferred. As such, we recommend getting your current year’s data up to date and complete in the legacy software and then export your completed data from the legacy software so that you have it safely stored away. Then migrate and start the new tax year in the new software with all of the background data already filled in without having to enter it all again.
What the New Landlord Vision Software Does
Firstly, a quick overview of what features the new Landlord Vision now has.
- A full accounting package for landlords including support for those on both cash and accruals basis
- Tracking of rents and arrears
- Full bank reconciliation and live bank feeds
- Record details of your properties
- Record details and track expiry dates for safety certificates, insurances, warranties and Right to Rent
- Raise and send invoices automatically
- Produce expenses from imported receipts
- Produce and export reports
- Produce legal documents
- Produce mail merge documents and emails
- Get documents signed electronically
- Track tasks
- Keep diaries of communications and work done
- Store documents and assign them to properties and contacts
- Add users and restrict their access if needed
- Email notifications of upcoming events including due rents and expiry dates
- Monitor the activity of your users with our activity log
- Lock completed accounting periods
What The New Landlord Vision Software Doesn’t Do
We are still building functionality and we will be adding these over the coming months, but at the moment, the new software does not yet have the following features that exist in the legacy version:
- Tenant access portal
- Tenant service desk
- Direct Debit payment collection
- Irregular future rent schedules (eg every academic term)
- Regional tenancy agreements (we are in discussion with our legal document provider about these)
- Cash flow report
- Welcome pack
- Calendar export
- Bank Reconciliation report
- Multiple currency support
- Produce task worksheets
- White labelling
Most of these features will be available in the coming weeks and all features should be in the software by the end of the year, along with some exciting new ones. If you need any of these features before moving across, please keep an eye out for update announcements as new features go live and then get in touch with us once you are happy the new product does what you need it to do.
What the Landlord Vision Migration Tool Does
We have built a migration tool to import the basic data from the legacy software into the new software. Only the static data will be migrated, no transactional or accounting data is imported. The following sections will be migrated over from legacy Landlord Vision:
- Portfolio details
- Property Manager > Properties and all subsections: Main information, Rooms, Essentials, Safety Certificates and Insurances, White/Brown Goods, Utility Suppliers, Meter Readings, Valuations, Keys and Target Rents
- Tenant Manager > Tenancies. This includes the tenancies list and the check in and check out information. Please see Other Information below
- Finance Manager > Mortgages. Mortgage list only
- Account Manager > Bank accounts (list of bank accounts and cards only)
- Tenant / Property / Tenancy journals
- Contacts
- Documents and folders
- Calendar > Tasks
- Tags
- Financial year end date
- Sent emails
These sections will not be migrated
- Property Manager > Income
- Property Manager > Expenses
- Property Manager > Payments
- Tenant Manager > Invoices
- Tenant Manager > Payments
- Tenant Manager > Agent Fees
- Finance Manager > Payments
- Account Manager > Journals
- Repeating expenses
- Settings
- Bank statements and reconciliation data
- Bank transfers
- Bank feeds
- Opening balances
- E-signatures
- Mail merge email templates
No historical invoices or expenses will be transferred.
Other information
The payment schedule information from the tenancy will produce a repeating income for the rental income. The repeating income will start from the next invoice due date based on the rules you have set up.
If you have tenancies with irregular payments, the tenancy will be migrated, but the software will not raise invoices for these.
Mortgages will be imported as historical mortgages with the outstanding loan amount at the time of migration used as the opening balance amount.
Documents will be migrated, however mail merge templates will need to be updated as the mail merge tags are different and there are fewer of them.
Also, documents with electronic signatures in them will be imported, but will lose their green ‘signed’ badge.
Migrated data will be imported into new portfolios, so if you already have some data in the target LV2 account, this will not be affected. You can request one, some or all of your portfolios to be transferred.
How to Migrate from Legacy Landlord Vision to New Landlord Vision
Once you are ready, let us know by raising a ticket in Legacy Landlord Vision. You can do this by selecting ‘help’ from the top menu and then choose ‘Need Help? Submit a Support Ticket Here’. We will confirm with you that you won’t be losing any functionality that you currently rely on and the process will begin. Set up an account on the new software and tell us which accounts are in use. We will then perform the migration on our side and let you know when it is complete. You will need to enter payment details to unlock the new software, but you won’t get charged until day 14.
We also recommend that you export all of the data from your legacy software so that you have it for future reference. All of the reports and data entry screens can be exported to both a spreadsheet and PDF. Once you have done this, cancel the subscription on the legacy software so that you are not paying twice. You can then start entering the new year’s data into the new product.
And don’t forget you still get the same support from the same support team as before who are happy to help you through every step of the way.
