Description
Track your Multi Unit Rental, Duplex or Apartments with this easy to use template.
When it comes to tracking rental income and expenses, if you have buildings or apartments that contain units, you may want to simplify things by tracking the units together for each building.
See how this templates works:
Track Building Totals
The main summary page above includes annual totals for each building, based on information you enter in the individual building pages.
Within each Building page, you can track up to 6 units. Easily track the rental income and remaining balances due per unit, while tracking expenses at the building level only.
Each Building page will contain several key summaries:
An overall rental income, remaining balance, expenses and profit/loss is shown in the top left side – these are totals for the building as a whole, including totals from up to 6 units.
Track Unit Totals
To the right, the Green Rental Income Details section – is where you can enter the rental income and assign it to the unit or apartment number. You will be able to customize what you want to name or label the units as.
As you scroll down, there will be 6 separate income summaries for each unit. You will be able to customize the unit names here, which will then update the drop down lists.
Track Expenses at the Building Level
As you scroll right on the individual Building pages, there is a section to enter all your expenses that apply to the building. You will be able to customize ALL the expense categories on 1 page, and they will automatically update in the drop down lists and other pages.
Bonus Page
Also included is an extra bonus page to add standard expenses. This is for expenses that are the same amount every month, such as maintenance fees. Simply enter the monthly amount once and it will automatically populate for all 12 months. This would apply to the building total (not unit levels).
Understanding the Remaining Balance Feature
With the Remaining Balance feature, the file will have a place to enter any late fees, and will calculate the monthly balance of rent/fees due, when the rent is not paid in full.
Per Unit, you will need to enter the Monthly rate charged, as well as the rent paid. This is how the file will calculate the difference between what is charged versus what was paid – to get you the remaining balance due from the tenant.
Any late fees charged will also need to be entered in. The remaining balance will carry over to each month, until the total balance due is paid.
The spreadsheet templates are designed in MS Excel, and will be sent via email within 24 hours of purchase. The file will also come with a PDF containing directions and examples.
*All templates come personalized with your name or company name.
*Most of the templates come with the cells with formulas protected, so that they can’t get accidentally deleted or written over, which could cause the template to not work as described.
If you aren’t sure which rental template to get, this video covers all the options:
See more rental property management templates here
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