Any Efficient Process to Organize your Rental Properties?

[Sam Mathew]

I am request assistance from a wise rental property sage on how best to organize rental property paperwork.  I have out-of-state properties with property management companies to manage them, but still I have closing docs, titles, insurance, mortgages, HOAs, expenses, etc....some permanent records, some ongoing monthly accounts with updates.  Some reason I have no effective folder system, excel spreadsheet, or online softward to help me keep track.  Yes, slightly embarrassed to even type this out but if you might be able to help, please let me know.  Thank you Bigger Pockets' members.  

[Joe Splitrock]

Originally posted by @Sam Mathew:

I am request assistance from a wise rental property sage on how best to organize rental property paperwork.  I have out-of-state properties with property management companies to manage them, but still I have closing docs, titles, insurance, mortgages, HOAs, expenses, etc....some permanent records, some ongoing monthly accounts with updates.  Some reason I have no effective folder system, excel spreadsheet, or online softward to help me keep track.  Yes, slightly embarrassed to even type this out but if you might be able to help, please let me know.  Thank you Bigger Pockets' members.  

 We have one 'Legal' folder for each property which contains the permanent records that get held forever like closing and loan docs. We have one 'Insurance' folder with the policy and statements. We have one 'Tenants' folder that contains leases and any tenant related information for the property. We have one spreadsheet that tracks expenses and income for all the properties, but we code each entry with the specific property and type of expense. Usually property managers provide you statements and do that for you.

No need to be embarrassed, because recognizing the need to change is the hardest part. Getting organized will save you time and reduce errors.