A female entrepreneur who began her property career painting and fitting windows has invested £70,000 developing a piece of inventory software set to revolutionise the property market.
Originally from Littleover, property developer Rachel Hudson, 43, has launched a web-based system called Inventory Genius, set to take the hassle and legal pitfalls out of the inventory process for landlords and letting agents alike.
Known as the only effective way of cataloguing a rental property and all of its contents before a new tenant moves in, an inventory is a fundamental document for landlords and tenants. Its importance is often overlooked, yet it can be used to settle property disputes in court regarding property damages, contents and deposits.
A woman in a man’s world, Rachel started her career at the age of 17, after joining her parent’s construction company, Pear Tree Joinery, where Rachel quickly learned every element of the trade whilst working as a single mother to make ends meet.
Demolishing the gender stereotypes within the building industry, Rachel started off by learning how to paint, make and fit windows and eventually progressed to managing the company.
Rachel said: “I really was working in a man’s world and it wasn’t made easy for me. I had to earn the respect of the other builders and property managers and work hard. I laugh about it now but many years ago we used to say that if you got offered an aniseed ball from a certain gentleman from the council, that you had made it. When I received mine I actually dropped it! Even so, I knew that I had been accepted by my peers!
“I can even remember sitting in hospital and sorting out the company wages after giving birth to my son, Kevin, which is testament to how hard I worked to get where I am today."
After working at and managing the Pear Tree Joinery from 1982, Rachel decided to sell the company in 2002 and focused her career on working within sales of new homes and property management. After this, Rachel decided to continue running the family portfolio.
Throughout her career, Rachel has repeatedly filled out inventories and found that other applications didn’t quite meet the standard required if an inventory was needed for a dispute or in court as they didn’t contain enough detail. This sparked the inspiration to design and launch her own online inventory system to help make the process simple and accurate.
Inventory Genius, the brainchild of Rachel, is officially launching later this month after completing a rigorous development and redesign process over the last three years.
Designed to address the flaws found in the range of online inventories that are currently available, Rachel’s extensive skills, expertise and qualifications in property management have been used throughout the development process to ensure that the site meets all the necessary requirements of a dispute.
Rachel said: “An inventory is just as important as the original tenancy agreement in its own right, as it catalogues the condition of the property and the contents that were provided originally. It is vital that it is filled out correctly with the right contents and I have designed something that meets these requirements.”
The product aims to provide inventory clerks and property professionals with a fast and simple service, as the software automatically highlights any changes between the original document and the check-out inventory, indicating any changes to the property since the tenancy.
Inventory Genius is currently web-based, with plans to further develop the system into an app in the near future.
For more information, please visit www.inventorygenius.co.uk