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DL35
Level 1

Rental Property Income/Expense

I need help in tracking all income and expenses for rental properties.

 

I have a few questions/thoughts:

 

1. I will need to have each property value as an asset. Some properties are owned 50%. What is the best way to capture this?

2. When a property has an expense, what is the best way to capture this?

3. When a property receives income, what is the best way to capture this?

 

Trying to put together the whole picture.

 

Thanks for your help.

1 Comment 1
BigRedConsulting
Community Champion

Rental Property Income/Expense

I'd probably set up each property as a class. Then you can record your income and expenses for each property using the class field and then create reports by class, like the P&L by Class.

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