You can download the template from the below mentioned link
[ Ссылка ]
Income Categories
Rent Payment
Deposit
Late Charges
Bank Interest
Other Income
Expense Categories
Advertising
Cleaning & Maintenance
Commission
Insurance
Management Fees
Repairs
Supplies
Taxes
Legal & Professional Fees
Licence & Permits
Mileage/Travel
Loan Payment
Other Expenses 1
Other Expenses 2
Welcome to our latest video on how to create and use a powerful Landlord Tracker in Excel! Whether you're managing a single rental property or multiple units, this comprehensive tracker will help you streamline your property management tasks and keep everything organized. 🏡
In this video, you'll learn:
Introduction to the Landlord Tracker
Overview of what a Landlord Tracker is and how it can simplify your property management.
Setting Up Your Tracker
Step-by-step guide on how to set up your Excel spreadsheet, including creating tabs for different sections.
Essential Sections to Include
How to create and customize tabs for tenant information, rent payments, maintenance requests, and lease agreements.
Tracking Rent Payments
How to log and monitor rent payments, due dates, and late fees.
Managing Maintenance Requests
Tips on tracking maintenance requests, work orders, and follow-ups to ensure nothing falls through the cracks.
Keeping Lease Agreements Organized
How to maintain a record of lease agreements, renewal dates, and important contract details.
Generating Reports
How to use Excel’s features to generate useful reports and summaries for easy tracking and decision-making.
Customizing Your Tracker
Adding personal touches and customization to fit your specific needs and preferences.
Additional Resources:
Download the free Excel template used in the video (link in the description)
Check out our blog for more property management tips and tricks
Don’t forget to like, comment, and subscribe for more helpful videos on property management and Excel tips! If you have any questions or suggestions, drop them in the comments below—we’d love to hear from you!
Rental income
Most individuals operate on a cash basis, which means they count their rental income as income when they actually or constructively receive it, and deduct their expenses when they pay them. Rental income includes:
Amounts paid to cancel a lease – If a tenant pays you to cancel a lease, this money is also rental income and is reported in the year you receive it.
Advance rent – Generally, you include any advance rent paid in income in the year you receive it regardless of the period covered or the method of accounting you use.
Expenses paid by a tenant – If your tenant pays any of your expenses, those payments are rental income. You may also deduct the expenses if they're considered deductible expenses.
Security deposits – Don't include a security deposit in your income if you may be required to return it to the tenant at the end of the lease. If you keep part or all of the security deposit because the tenant breaks the lease by vacating the property early, include the amount you keep in your income in that year. If you keep part or all of the security deposit because the tenant damaged the property and you must make repairs, include the amount you keep in that year if your practice is to deduct the cost of repairs as expenses. To the extent the security deposit reimburses those expenses, don't include the amount in income if your practice isn't to deduct the cost of repairs as expenses. If a security deposit amount is to be used as the tenant's final month's rent, it is advance rent that you include as income when you receive it, rather than when you apply it to the last month's rent.
Rental expenses
Examples of expenses that you may deduct from your total rental income include:
Depreciation – Allowances for exhaustion, wear and tear (including obsolescence) of property. You begin to depreciate your rental property when you place it in service. You can recover some or all of your original acquisition cost and the cost of improvements by using Form 4562, Depreciation and Amortization (to report depreciation) beginning in the year your rental property is first placed in service, and beginning in any year you make improvements or add furnishings.
Repair costs – Expenses to keep your property in good working condition but that don't add to the value of the property.
Operating expenses – Other expenses necessary for the operation of the rental property, such as the salaries of employees or fees charged by independent contractors (groundkeepers, bookkeepers, accountants, attorneys, etc.) for services provided.
How to track multiple rental properties' income and expenses in one Google Sheet or excel.
How To Manage Rental Properties Yourself and Work Full-Time
