What is a property logbook?
A property logbook is a cloud-based management system that contains the records of a property. Property logbooks are also known as Building Manuals.
Most Builders will provide project-related information to an owner before during and after construction. Many builders are now moving towards providing this information in a digital form.
What information is stored in a property logbook?
Any property-related data. For example:
Architectural plans, Structural plans, Approved plans, As-built plans
Building Approval, Planning Approval
Certificate of classification, Certificate of Occupancy
Form 4, Form 11, Form 15, Form 16, Form 21. Any Building related forms
3D Models
Asbestos Register, Asbestos reports
Paint colours
Floor covering information
Operation manuals
Maintenance manuals
Specifications
Appliance manuals
Warranties
Contacts - Authorities, Consultants, Trades and Suppliers related to the property
Who uses a property logbook?
Property Developers can prepare their own property logbooks or ask a Builder to provide a property logbook to the owner.
Builders and Construction companies can provide a property logbook to the Owners Corporation
Property Owners usually receive their logbook from a property professional like the Builder, Real Estate agent or Building Inspector/Home Inspector. A property Owner can initiate setting up their own property logbook.
Who should receive a property logbook?
A property buyer of an established property should be given access to a property logbook by the Real Estate salesperson. The property could be a residential or commercial property. The buyer may be given access to the entire logbook or only certain files from the logbook during the sales process. Once the property has been sold to the new owner, the property logbook will transfer to the new owner.
An owner having a new home or extension built for them should receive a property logbook from the builder. Builders are required by law to provide certain information to an owner at settlement so that they can understand how to maintain the home in a safe condition.
Tenants of a property are often given access to a logbook so that they can access files such as Appliance manuals, Maintenance and cleaning procedures, and even links to explainer videos that may show them how to use appliances or equipment on the property.
A Builder will sometimes share the property logbook with a Consultant during the design stage of the project. This will allow them to view and upload files to the logbook. Access is usually provided at no cost to the Consultant or contractor. This saves the Builder from chasing the documents and transferring them to the logbook.
Who transfers the logbook to the new owner?
The logbook transfer is usually carried out by the Real Estate agent or the property seller.
Who pays for the property logbook?
A property logbook is usually sponsored (paid for) by the Builder or Real estate agent on behalf of the property owner.
When the property is sold the sponsorship carries over to the next owner and to each successive owner.
If the sponsor decides that they no longer want to sponsor the property logbook then the current owner (and all parties the files have been shared with) will be notified that the sponsorship will be expiring in 30 days’ time. This allows time for the property owner to provide their credit card details and pay for their own logbook access. Refer to pricing for inndox here.
Can Property Owners start their own logbook?
Absolutely they can. Find out more here.
How do Real Estate Agents use a property logbook?
An agent or their assistant can set up a property logbook. inndox makes it easy for your seller to upload any relevant documentation that will help sell the property like approvals, certificates, and plans
The agency’s brand is there on every page of the property logbook and on every reminder sent to the owners via email. A property logbook allows an agent to reach future owners, tenants, and other property professionals to increase their brand awareness, reputation, and referrals.
Agents stay “top of mind” by setting Maintenance, Safety & Warranty Alerts such as annual building and pest inspections and smoke alarm checks.
They can share their favorite tradies, professionals, and suppliers. This is a proven way to refer (and be referred) business with your informal or formal business networks. Great for those in a BNI Group as you are sharing their details with every property sold.
An automated email goes to the new owner (and all successive owners) from the agent advising them when maintenance and warranties are due. The agent can easily set reminders for periodic appraisals. This means you are “top of mind“ when owners and future owners go to sell or need to recommend an agent they trust!
Can Property Managers use a property logbook?
Both the property manager and landlord can access all records and history of a property such as lease agreements, entry condition reports, periodic maintenance inspection reports, receipts and more.
Share a specific folder in the property logbook with the tenant so they can access documents relevant to them such as the contract, entry condition report, and appliance manuals. When the tenant vacates, simply remove the access and share it with the next tenant.
Share inndox with your Accountant for tax returns. They access any files uploaded by the Property Manager like annual statements and depreciation schedules. Gotta love automation!
Is it a legal requirement to provide a property logbook?
Property information must be provided to a buyer in every property sale. The type of property information that needs to be provided and when it’s provided and who pays for the information varies depending upon the local laws in that state or country. Look up Government websites in your area or contact your local lawyer for further advice on what is required in your jurisdiction.
In Australia and most parts of the developed world, it is necessary to provide property information to property buyers, sellers, and tenants.
Property logbooks provide an easy and secure way to provide that property information to assist in compliance with local laws.
I’m looking to buy a property. Can I ask the agent for a property logbook?
Please do. If your agent is not using property logbooks yet then please direct them to inndox.
A property logbook can help you to understand the condition of the property and how well its being looked after. This can confirm the value of the property and help you firm up the price you are willing to pay for it.
What can a property owner do with a property logbook?
Having a property logbook makes it easier to manage, maintain and protect what could be, your biggest asset. Here are just a few things that a property owner can do with a property logbook.
Share the files with their accountant at tax time for a rental property.
Upload all of their property contacts like a Pool cleaner and Gardener to share with the next owner. This is a nice gesture that looks after your loyal workers and provides a 5-star experience for your buyer. That’s some good Karma right there.
Get alerts about recommended and essential maintenance like testing smoke alarms or recharging fire extinguishers.
Be alerted to a warranty that is about to expire. We have probably all experienced that frustration of having a product develop issues and by the time we go to make a claim on the warranty you learn that it has already expired. The result is you are out of pocket for the expense of repair or replacement when the cost could have been covered by the manufacturer or supplier.
After buying or building a new home many owners find defects that need attention. These will often be rectified by the Builder under a warranty. Many logbooks provide an easy way to manage defect reporting.
There are too many features and benefits to list here and its probably worth your time to request a demo of a property logbook so you can see what a powerful tool they really are for a property owner
How much do property logbooks cost?
The cost will vary depending on the supplier. Generally, the free and cheaper versions have very limited features and limited storage. These could be suitable for a home owner who wants to dip their toe in the water without diving straight into managing their property information online.
inndox starts at just $29 per month for owners and $69 per month for companies. Find out more about inndox pricing here.
Can I make my own logbook using Dropbox or Google drive etc?
Making your own logbook is like doing your own dentistry. It’s better to leave it to the professionals.
While you can store files these generic programs are not property specific and don’t have the features to make them the easy-to-use and powerful tool that a purpose-built logbook software can provide. Property logbooks need tools like templates, cloning and sharing permissions that these generic products cannot provide.
Are property logbooks available where I live?
You can have a property logbook for your property anywhere in the world. In fact, it’s entirely possible that any permanent structures on other planets could use a property logbook too.
Property logbooks are available from inndox.com in Australia and these are also suitable for countries such as the UK, New Zealand, Canada, USA and China.
What sort of Buildings can have a property logbook?
A property logbook could be used for any property or building whatsoever. Property logbooks can be used for blocks of vacant land to store the property-related information such as title, rates notices, planning approvals, plans and building approvals for proposed buildings, geotechnical reports, and more.
What is the future of property logbooks?
Property logbooks are here to stay. Laws are changing and more information must be provided to owners corporations, property owners, and tenants. Unpleasant building maintenance and property sales stress can be made easy for busy people as more steps in the process are automated.
New technologies like Alexa and Google Home will power the smart home and workplace revolution. Coupled with enablers like AI and Blockchain we will be able to talk to our homes and offices and they will take care of services with automated efficiency and security. For the most part, these new technologies are here already and they are waiting to be used by those that ensure their property data is managed by a property logbook.
Can I see a demonstration of a property logbook?
Of course, you can. Click here for a free no-obligation demo.