Are you a real estate investor, landlord, or property manager? If so, you know that tracking rental properties can be a time-consuming process. But, there’s good news! You can save time and money by using free Excel spreadsheet templates.
This blog post will provide links to several templates you can use to track your rental properties.
Have existing properties that you want to track the performance of? Check out Stessa. Get 24/7 visibility into your portfolio’s performance with reports that are automatically generated and updated in real time. Create income statements, balance sheets, cash flow reports, collect rent, screen tenants and more, in just a couple clicks. Best of all, it’s free to get started.
Rental property spreadsheet
Investing in rental property can be an appealing alternative to owning traditional stocks, which can be volatile. Rental property can generate recurring revenue, appreciate over time, and provide tax benefits.
A good rental property Excel spreadsheet is valuable for evaluating prospective purchases, tracking tenant rent payments, and monitoring property financial success.
Learn more about the benefits of using a spreadsheet for rental property.
Rental property analysis
It’s critical for real estate investors to watch the bottom line. A rental property analysis spreadsheet is essential when evaluating income-producing real estate’s current and future performance.
A good rental property spreadsheet organizes income and expense data from each real estate investment and forecasts their potential profitability.
Stessa has a simple rental property analysis spreadsheet that you can download for free.
Learn more about how to use a rental property analysis spreadsheet.
Rental property expenses
It’s easy to overlook deductions that can decrease taxable net income, even when you’re just dealing with one rental property. Even worse, it’s possible that you incurred an expense and inadvertently double-booked it, only to have it discovered during a tax audit.
By automatically tracking rental property expenses, landlords can track every expense down to the penny, claim all relevant tax deductions, save time, and improve the financial success of their rental properties. Rental property managers can utilize this information to monitor expenses in real time and manage properties more effectively.
Learn more about the benefits of using Stessa to track rental property expenses and income instead of manually entering data on a spreadsheet.
Short-term rentals
There are a lot of transactions to keep track of with a short-term rental (STR) property. Guests come and go every few days, cleaning and repairs must be completed quickly in order to prepare for the next arrival, and supplies must be replenished.
With so many moving parts, it’s easy to overlook income or important expense deductions. An STR spreadsheet can keep your investment on track by ensuring that critical information is readily accessible in a single place.
Get a free template from Stessa, or learn more about managing STRs.
Rent roll
A rent roll is a comprehensive document that provides tenant information, including whether or not they have paid their rent.
Rent rolls may also indicate whether a unit or home is inhabited (essential for multifamily investors or single-family house owners with a big portfolio of rental properties), lengths of tenancy and lease expiration dates, tenant payment histories, and security deposit refund amounts.
To save you the time and trouble of creating your own rent roll, we’ve put together two full-editable rent roll templates that you can customize for your specific needs:
Rental property accounting template
Real estate investors can gain better control over income and expenses with a good rental property accounting template. They may find it considerably easier to claim tax benefits that the Internal Revenue Service (IRS) makes available to real estate investors.
A great rental property accounting template assists in tracking rental income, ensuring bills are paid on time, creating financial reports, monitoring profitability (or loss), and generating tax-ready financials.
Learn how to create a rental property accounting template.
Rent ledger template
Even if you have only one rental property, keeping track of income from rentals, tenant information, and lease expiration dates may be difficult. A rent ledger shows both rent receipts and information such as past-due amounts, security deposit collected, and the start and end dates of the lease.
By recording revenues and other expenses in a rent ledger form, landlords can track revenue and miscellaneous charges and income to maintain steady cash flow and low vacancy rates.
You can download a free customizable rent ledger template.
Rental property income statement
Real estate investors use this document to accurately track rental revenue and opportunities for increasing earnings and cutting expenses to enhance profits.
A rental property income statement details monthly income and expenditures, as well as a year-to-date total and year-end summary. The income statement, also known as the profit and loss statement (P&L), documents whether or not a rental property makes a profit or loses money.
There are 4 main sections of information on a rental property income statement: gross monthly rental income, operating expenses, net operating income, and pretax net income.
To download the template, select the link below, select File at the top left corner of the page, select Download, and choose Microsoft Excel.
Download your free rental property income statement template.
Learn more about how to automate a rental property income statement.
Chart of accounts for rental property
A rental property chart of accounts is a framework for managing all financial records associated with a rental property.
It can help real estate investors monitor the financial performance of their rental properties using a structured system for financial transactions, simplify financial reporting and tax filing, and make data sharing with partners, lenders, accountants, and property managers much easier.
A good rental property chart of accounts also serves as a tool to help you make better future investment decisions.
There are plenty of options for finding templates, such as YouTube videos or general-purpose accounting software. However, one of the easiest ways to automate this is by signing up for a free account with Stessa.
Stessa, a Roofstock company, was created by and for real estate investors, so there’s no need to guess how to set up a chart of accounts since the groundwork has already been done.
Rental property P&L statement template
A rental property income or P&L statement records the financial performance of a property for a certain length of time.
A good P&L statement also serves as a road map for opportunities to improve income, minimize expenditures, and maximize net operating income (NOI).
This free P&L statement template is a fully editable Microsoft Excel document.
The template does all the math for you. It also changes your pretax income or loss to reflect current information, so you can instantly see how much taxable net income or loss you’ll have at the end of the year.
To download the template, click on the link, select File at the top left corner of the page, select Download, and choose Microsoft Excel.
Cost of ownership
The up-front purchase price and down payment are 2 aspects of the real cost of purchasing a rental home. The projected cost of immediate repairs, property taxes, property insurance, mortgage terms, and interest rates differs from one potential purchase to the next.
Using this free cost-of-ownership template, you can create columns for variables like property type, required repairs and costs, anticipated closing fees, property taxes and insurance, and the overall estimated purchase price of each residence.
Download the free cost-of-ownership template.
Tenant screening
Landlords can track applicant information using a rental property form. Using a form comes in handy in today’s high-demand market for rental housing.
A tenant screening template can be created with columns such as applicant name and address, contact information, monthly gross income, rent-to-income ratio (percentage of gross income), credit score, background check, and rental history report.
Landlords and property managers can use online tenant screening tools, such as the one offered for Stessa users, to get reports on prospective tenants. Screening documents can be automatically added to the applicant’s file, providing confirmation that every applicant was treated fairly.
Property management and maintenance
Many property investors who decide to self-manage a rental property use a property management and maintenance template to track day-to-day management needs.
The information on a property management and maintenance template may include repairs required, services performed, the amount of each tenant’s rent payment, and payments due to vendors, and open issues, such as landscaping and routine property inspection.
Cash-flow report
A cash-flow report summarizes the amount of money entering and exiting each rental property over a specified length of time.
A cash-flow report can track the amount of money remaining to pay current bills and the mortgage, cash available to fund a capital expenditures (CapEx) account, and potential savings.
Here’s an example of a net cash-flow report from Stessa:
CapEx report
CapEx reports include all costs to improve a property above and beyond ordinary upkeep and maintenance. According to IRS Publication 527, Residential Rental Property, examples of common improvements to a rental property include additions; lawn and grounds; heating, ventilation, air conditioning (HVAC); plumbing; interior improvements; and insulation.
It’s feasible to make a worksheet template detailing each rental property improvement and expenditure. The difficulty, however, is keeping track of depreciation since some improvements have varying depreciation rules.
Stessa is a much more efficient way to track the useful life of CapEx. Stessa will automatically prompt you to enter a date placed in service and make a useful life calculation when a new CapEx transaction is entered into the system.
Real estate balance sheet
The real estate balance sheet shows investors key information like the amount of cash on hand, the current property value, the amount of refundable tenant security deposit, outstanding mortgage debt, and the owner’s equity in the rental property.
There are 3 sections to include on a real estate balance sheet template: assets, liabilities, and owner’s equity.
The value of the rental property at the original purchase price is generally reflected on a real estate balance sheet. The issue with this approach is that property values fluctuate from year to year, resulting in underestimated (or overstated) owner’s equity.
Stessa, on the other hand, automatically updates the anticipated fair market value of each single-family rental property on the balance sheet monthly to better reflect the current owner’s equity.
