Excel Model: Rental Property Spreadsheet

Title: Rental Property Spreadsheet

 Description:

 

This spreadsheet is designed to manage and analyze rental property financials. It includes sections for property setup, property details, income, and expenses.

 

  • Property Setup: Provides details about the type of property (e.g., Multi-Family, Apartment Building, Condominium, Townhouse Complex, Single Family Homes, Duplex Units).
  • Property Details: Includes property name, address, type, and number of units.
  • Income: Tracks monthly rental income from tenants.
  • Expenses: Lists and tracks various property-related expenses such as advertising, auto and travel, cleaning and maintenance, commissions, insurance, legal and other professional fees, management fees, mortgage interest, other interest, repairs, supplies, taxes, utilities, and depreciation.

 

Advice/Tips:
  • Property Setup:
    • Select the appropriate property type to categorize and manage properties effectively.

  • Property Details:
    • Ensure accurate entry of property details for efficient tracking and management.

  • Income:
    • Regularly update rental income records to reflect the latest payments from tenants.

  • Expenses:
    • Keep detailed records of all expenses to manage costs and ensure accurate financial analysis.

 

Source: Custom Calculator

Click the following icon to open the full workbook viewer in a new tab, allowing you to easily edit and save.

Click the following icon to download the spreadsheet, allowing you to save the file on your computer along with edits.

Example of using calculator:

Detailed example of using Spreadsheet: Tasks for user to complete:

 

  1. Property Setup Section:
    • Select the type of property from the provided list.
      • Example values:
        • Type: Multi-Family

  2. Property Details:
    • Enter the property name, address, type, and number of units.
      • Example values:
        • Property Name: Greenwood Apartments
        • Address: 1690 Irving Road, Columbus, OH 43201
        • Type: Multi-Family
        • Number of Units: 5

  3. Income:
    • Record monthly rental income for each unit.
      • Example values:
        • Monthly Rent (Unit 1): $1,200
        • Monthly Rent (Unit 2): $1,250

  4. Expenses:
    • Enter expenses for various categories.
      • Example values:
        • Advertising: $50 per month
        • Cleaning and Maintenance: $100 per month
        • Utilities: $200 per month

 

Why is interactive calculator useful:

This spreadsheet consolidates all essential rental property financial information in one place, providing a comprehensive view of income, expenses, and overall financial performance. By offering detailed financial tracking, it helps property managers make informed decisions and manage their properties effectively.

 

Source: Custom Spreadsheet

Conclusion:

The Rental Property Spreadsheet is an essential tool for property managers to track and manage rental property financials efficiently. By providing a detailed and organized approach to recording income and expenses, it helps ensure financial stability and make informed decisions about property management. Regular updates and reviews ensure that the financial records remain accurate and up-to-date.

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