One advantage of using Google Sheets is that you can add multiple sheets in a single file, so all of your relevant data stays in one place. To create a rental property spreadsheet that will summarize all your transactions and tenant information, you need to determine what categories you will require to retrieve information from the layout efficiently. The number and categories of heads will also depend on the number of properties you want to maintain the record for. What usually goes in the spreadsheet will eventually depend on your requirements. Summarizing data in one place will also evaluate whether your investment is reaching the goal or objective you desired when investing. Making a Google spreadsheet is a perfect fit for such usage. If you are a real estate investor and making money through renting properties is your primary source of income, you need to have diligent management skills to achieve financial transparency in your investments. A spreadsheet increases information transparency, and updating data in such a format will reduce the chance of uncomfortable conversations with tenants during their lease period (Note that the US Department of the Treasury also offers resources for rental assistance). This tracks the start and end date for each lease in your portfolio, and it highlights those that expire within three months.Ī rental property spreadsheet can act as a pedigree for information regarding payment records. In my second spreadsheet, I made a tracker for lease agreements. Such a spreadsheet may include an overview of the history of payments, late payments, all income (in a rental income spreadsheet), and expenses (rental property expenses spreadsheet), as well as the tenant’s record.
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A rental spreadsheet provides professional clarity and makes management and tracking of cash flow easier.Ī well-maintained rent spreadsheet will also automate clear communication between owners, investors, and tenants.
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It helps real estate investors track monthly, quarterly, or yearly income, expenses, and taxes. What Is a Spreadsheet for Rental Property and Why Use One?Ī rental property spreadsheet is a document that can store data, such as income and expenses directly related to your rental properties. Just click FILE > Download > Microsoft Excel. Here’s what the menu looks like to get my rental property Excel spreadsheet from Google Sheets. Just download them from Google Sheets into an Excel-friendly format. Prefer a rental property Excel spreadsheet? My free templates also work there. If you’re looking for how to make a lease agreement, there are automatic services that make lease agreements by state. That will give you a copy you can edit with your own information in Google Sheets. You just need to go to FILE > Make a Copy in either file.
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Note that each spreadsheet works as a template.
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