SFH Rental Spreadsheet

3 Replies

Hello All,

I have a few questions about organizing and allocating rental payments.

Since I am new to this world, I wanted to see how others are keeping track of everything.

1. Is there a standard spreadsheet that everyone uses to keep track of a property, maintenance, and rent payments, etc?

2. How does a rent payment apply to a rental? For example, if I get a check for August 1st , do you put into the spreadsheet that it applies to July interest and taxes or is it for August? I guess I'm just trying to find out if the payment is for last month or the current month.

3. Where is everyone putting the money? Should there be a separate account for each house? Is there a checking and a savings for each house and I put the tax $$ coming in into the savings?

Thanks in advance for every ones advice/tips. I just want to learn what is the norm for keeping up with a rental on a spreadsheet and bank accounts.

Brandan

For the bank accounts:

For the houses I own in my own name I deposit all the rent checks into the same account, and have a separate account for those security deposits. For the one property I own in an LLC I have totally separate accounts for main and sec. deposit. I don't see the point of opening separate accounts for each prop unless you own each one in a different entity.

We are up to > 45 accounts as the majority are direct deposits with 2 different banks & several LLC's, S-Corps & trusts.

My wife keeps tabs with a spreadsheet I wrote for pmts, repairs, taxes, Insurances & year end totals for 1098's, 1099's etc etc.

Online banking is great & she was able to keep tabs on things while we were in Australia.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here