Holicent
VIP Contributor
Tracking rental property expenses is the key to ensuring your business is running efficiently. Whether you’re an investor or a landlord, it’s important to keep track of all of your bills in order to make sure that your income covers all of the costs associated with your rental property.
The first step in tracking rental property expenses is to create a monthly ledger. This can be as simple as creating a list of all of your expenses and dividing them by the number of days in a month. Once you have this list, you can easily see if there are any increases or decreases in spending compared to previous months.
If you want to keep track of even more details about your business, consider using a software program like Microsoft Excel or Google Sheets as an additional tool for tracking your finances. These programs allow you to input data into columns so that it’s easier for you to organize and track information from multiple sources.
The first step in tracking rental property expenses is to create a monthly ledger. This can be as simple as creating a list of all of your expenses and dividing them by the number of days in a month. Once you have this list, you can easily see if there are any increases or decreases in spending compared to previous months.
If you want to keep track of even more details about your business, consider using a software program like Microsoft Excel or Google Sheets as an additional tool for tracking your finances. These programs allow you to input data into columns so that it’s easier for you to organize and track information from multiple sources.