Outstanding loan balance (used to determine owner’s equity by subtracting from the current market value of the property).Amortization period (normally the same as the loan term for residential mortgages).Interest rate type (fixed or adjustable).Type of loan (conventional, Federal Housing Administration or Veterans Affairs, private lender, etc.).Other notes (including garage or carport, outdoor deck, tool shed, etc.)Įntering mortgage data helps you monitor owner’s equity and decide when and if to refinance and pull cash out to use as the down payment for an additional real estate investment:.Building size and lot size (square feet).Type of property (single-family rental (SFR), multifamily, short-term rental, etc.).Name of property (often used with multifamily buildings).Real estate market in which the property is located.This section of the spreadsheet contains information about the rental property: There are 6 steps for creating a landlord rental property spreadsheet: 1. How to create a rental property spreadsheetĪ rental property spreadsheet is a comprehensive report that monitors the financial performance of a rental property. Generate income and expense dataĬollect data needed to generate a profit and loss (P&L) statement, including monthly rental income collected, tenant application and late fees, property management and leasing fees, operating expenses, and mortgage interest deductions. Stay on top of routine repairs and maintenance, such as the type of work done (unclogging a toilet, servicing an HVAC, etc.), the date the work was completed, and the name of the handyperson or contractor who did the job. Consolidate informationĪ tenant rent roll in a single spreadsheet can consolidate information for each tenant and property, including tenant information like contact details, lease beginning and ending dates, monthly rent amount, and security deposit. When analyzing the costs of owning a rental, some factors to consider include the cost of repairs required at closing (if any) future capital expenses, such as replacing the heating, ventilation, and air conditioning (HVAC) and landlord insurance rates, which may vary among similar properties. Analyze ownership costsĪ rental property requires ongoing maintenance to keep the home safe and habitable for tenants. Logging data such as list price, price per square foot, neighborhood rating, and property taxes help you make an apples-to-apples comparison before writing up an offer. Compare potential investmentsĮach piece of real estate is different-even homes located within the same neighborhood. A spreadsheet can track potential acquisitions and locations. Remote real estate investors can pick and choose rental property to purchase in some of the top real estate markets in the country. Let’s begin by looking at some of the reasons why landlords use spreadsheets for rental property.
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