These templates allow you define expense categories for the real estate you manage.Īs with Income, enter a brief but meaningful name for each of your expense categories in Column C. Just as crucial as rental income to your property management record keeping are expenses. While a security deposit does represent cash flow that your tenant pays, it doesn’t represent income for you as the landlord. Note that there is no allowance for a security deposit or bond. If you don’t have a rental income history, or aren’t sure, you can leave this blank for now. This will help you compare your budgeted income against the actual. Secondly, under Budget, you can enter the total you expect to rent each property for this year. This makes data entry faster and ensures the totals in the Summary worksheet accurately reflect the values you’ve entered for each month. The name you enter for each income producing property will show in the Category column in the income list for each month: This example has called property one “High Street 3/2” for a 3-bedroom, 2-bathroom home on High Street.Įnter a brief but meaningful description for each income producing property. You can customize these to reflect your own properties. When you first view the template, the list of properties shown on the Summary worksheet are named “Villa 1” through “Villa 5.” In cell D3 enter the financial year like the example below.In cell D2 enter you company or business name, and.To do this, select the Summary worksheet, then: The first thing you’ll want to update is your rental property company or business name and the fiscal year you want to keep records for. You can change the names of the income producing properties you want to track, as well as customize the expense categories for each property. These documents can be customized to reflect your property management business. There’s one worksheet for your properties’ income or cash flows, a second for expenses and deductions, and a third which provides an annual summary. The second is a more compact excel format with just 3 worksheets. Rental Property Excel Spreadsheet Free Model 2 There’s also a Summary worksheet which provides the annual income, expenses and net profit on a single page you can print. The first excel file provides one worksheet for each month so you can enter income and expenses by the month. Rental Property Excel Spreadsheet Free Model 1 Here is a short overview of each spreadsheet. The template comes in two flavors to record your rental property income and expenses. Choosing Your Rental Property Income Template Check with your accountant or tax attorney to confirm what you are entitled to claim. While your mortgage payments represent a cash flow, you can normally only claim the interest portion. Remember though, that you can’t claim all cash outflows as a tax deduction. However, if you want a simple way to track real estate rental income with a list of expenses for which you can claim a tax deduction, then this template is for you. Alternatively, we have a collection of cash flow templates here. If you’re in need or a balance sheet template then this one may suit you. This is not the same as a balance sheet or cash flow statement. This template allows you to enter a list of income and expenses for your rental properties. What Financial Reports does this Template Provide? This template is not suited for commercial or industrial real estate which require more rigorous property management and more complex rental property record keeping. These may be family homes, villas, holiday-lets, single rooms in Homes of Multiple Occupancy (HMOs) and even student accommodation. This rental property excel spreadsheet is perfect for the smaller property investor or landlord with a handful of rental income properties. What Properties Does this Template Work With? While simple and easy to use, they provide both detailed income and expense worksheets, as well as a consolidated summary worksheet to give you a bird’s-eye view of your investments. Our free, downloadable Rental Property Income and Expenses templates allow you to record the income and expenses of your investment real estate. But it does need to be complete, accurate and simple to maintain. Your record keeping doesn’t need to be complex or require expensive accounting software. Maintaining detailed and accurate records of your properties’ income and expenses is vital in property management. One crucial, though not very glamorous, aspect of being a professional landlord is sound record keeping. By some estimates, 90% of the millionaire created in the past two hundred years started in real estate. It’s long been known that owning income-generating real estate can positively affect your net worth.
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