How to add your properties

Next up: adding your properties. Provestor will ask you for basic details about each rental property you own, so the app knows which properties to track and, if any are jointly owned, what percentage you own.

You'll need these details for each property:

Property name
Property type
Your ownership percentage (if jointly owned)
Approximate purchase date (optional)

What you need for each property

Property name

Use whatever name helps you identify the property. This could be:

The full address: "14 Acacia Avenue, Manchester"
A shortened address: "Acacia Avenue"
A nickname: "Student house"

The name is for your reference only. HMRC doesn't see it.

Property type

Choose the property type that applies:

Residential property — Standard buy-to-let or rental property. This covers most landlords.

Furnished Holiday Let (FHL) — FHLs are no longer treated differently for tax purposes, and your income and expenses from all residential properties will be reported to HMRC together. You can select FHL in Provestor for your own records.

Other — Non-residential properties. By selecting this option, any property finance costs will be reported to HMRC as non-residential finance costs.

It's important to select the right property type to ensure your quarterly updates are filed correctly.

Ownership percentage

If you own the property jointly with someone else, including if you're married or in a civil partnership, enter your ownership percentage for tax purposes.

Examples:

You own 100% → Enter 100%
You own 50% with one other person → Enter 50%
You own 25% with three other people → Enter 25%

Provestor uses this percentage to automatically split income and expenses when you record transactions. You enter the full transaction amount, and Provestor calculates your share for tax purposes.

For more detail on how joint ownership affects your tax, see Jointly Owned Properties. For how to record transactions for jointly owned properties, see Recording Joint Ownership Splits.

Purchase date (optional)

You can optionally add the approximate date you purchased each property. This doesn't need to be exact.

Why it's useful: Recording the purchase date helps if you later sell the property and need to calculate capital gains tax. It's not required for MTD reporting, but it's helpful to record now while you're setting everything up.

Which properties to add

Add properties you own during the current or upcoming tax year. If you own the property at any point in the tax year and it generates rental income or expenses, add it.

Don't add properties sold before the tax year: If you disposed of a property before 6 April of the current tax year, you can skip it — you don't need to include it.

Add properties bought mid-year: If you purchase a property partway through the tax year, add it before you start recording income or expenses. For most landlords, this means adding it as soon as the purchase completes.

For more on handling property purchases, see Buying Properties. For disposals, see Selling Properties.

Why Provestor needs property details

Provestor tracks income and expenses per property. When you add income or expenses later, you'll tag each transaction to the relevant property. This lets you:

Automatically apply ownership splits for jointly owned properties
Keep and submit accurate records for HMRC

For jointly owned properties, Provestor handles the split automatically. When you enter a transaction for a jointly owned property, the app records the full amount but only reports your share to HMRC based on the ownership percentage you set.

How to add properties during setup

The onboarding process prompts you to add properties as part of step 4. Simply choose Add Property and fill in the details for each one.

You can add as many properties as you need.

How to add more properties later

If you buy a new property after completing setup, add it through the properties settings:

In Business Settings, choose Properties
Choose Add Property
Fill in the property details

The new property will appear in your property list and you can start recording income and expenses for it immediately.

Next step

Once you've added your properties, you're ready to set up your bank accounts. Provestor will ask a few questions about how you manage banking for your rental business and create the right account structure for you.