Docs: Property Rental Manager Sheet

[randy]

Overview

The Property Rental Manager template helps you track income and expenses for rental property by reporting the status of one or many rental properties on a monthly, quarterly, or annual basis.

This template was designed by Tiller founder, @peter, in October 2019.

Installation

1. Open your Tiller Money Foundation template
2. Install or launch the Tiller Community Solutions add-on
3. Open the add-on and choose "Real Estate” from the tags dropdown on the Explore tab
4. Click on “Rental Manager”
5. Choose “Add to Spreadsheet”

Setup

For each rental property you own, you will use three Category Groups in the Categories sheet to track:

• Income
• Expense
• Deposits (these can be type Transfer they are not income or expenses)

Add Categories for Each Property

In the Categories sheet, create as many Income, Expense, and Deposit categories you want per property. Each property should have its own categories, so you might use the property number as the first part of the name.

Assign each of these Categories to the correct Category Group for the property.

Now you are ready to setup the Rental Manager sheet.

Setup Your Properties

For each property, add the Overview information in rows 8 to 14. This is just for your own reference so you stay organized.

Also for each property, link the correct Category Group to each Rental in Rows 18 to 20. These will be used to automatically consolidate categorized income & expenses for each property.

Add More Properties

If you want to add more rentals, add 3 columns to the right of the sheet (before the hidden columns.) Then copy and paste the Rental property columns (for example, G,H and I) into the new blank Columns. You will need to update the Overview and Group Setup columns for each rental.

Setup the Reporting Time Frame

You can adjust the time frame of the reporting period in B3 to include everything, this month, last month and other options.

As you categorize rental property transactions, those numbers will appear in the Rental Manager sheet.

Additional Information

• @jono built a workflow to track rent checks as they come in. Jon’s support sheet is available here.
• A video walk through available here.

[jono]

Thanks for sharing this sheet @Peter !

The concept you used here gave me the idea to extend the idea further to answer the question “Am I getting all my rent checks per property every month?”

Instead of using selecting a specific reporting period, I built a sheet that shows the monthly amount in a selected category over the course of a year.

To use the sheet, select a year. Then for each row, select an Address and the Rent Category from the dropbox lists. The monthly results will appear. While this was built to check if the rent was paid, you could select any category and get the monthly results.

Here’s a link to the spreadsheet:
https://docs.google.com/spreadsheets/d/1LmF8H--6xLNbe1QyveWXqKCPyrdMNzYbYi6ZYJrctlM/template/preview

Save a copy to work with your own data. Copy the sheet into your Tiller spreadsheet and update the dropbox selectors.

If you have an idea to build upon this sheet or Peter’s original sheet, please share it with our Tiller Community.

[peter]

Love it - that’s a great enhancement Jon! Thanks for sharing. I’m going to update the link in my original post with your new sheet, which includes my original report and your addition.

[bgallagher31]

Just getting set up on this. Do you have a totally separate excel doc for your personal items or just a different tab? Trying to decide the best way to set it all up.

[heather]

@bgallagher31, it really depends on your specific situation. If you have all the inflows/outflows in separate accounts it’s probably better to have a separate Google Sheet (this solution is specific to Google Sheets, just noting that as you mentioned Excel and this sheet is not compatible with Excel) for the rental stuff. If the transactions for rental properties are comingled with your personal transactions because they’re in the same accounts then a single Google Sheet probably works best and you’d use a category setup to help you stay organized between business and personal.

[ksmith96]

Hey Jon,

I am trying to add your spreadsheets to Tiller, but when I do, the references are lost and unlinked. Is there an easy way to re-link the sheets? Thanks for making this!

[jono]

Hi @ksmith96,
I assume you have copied both the Rental Manager and the Rent Manager Checker to your own Tiller spreadsheet?

You should rename the sheets Rental Manager and Rent Manager Checker, as the might say “Copy of …” when you copy them in.

In the Rental Manager Checker, take a look at the hidden cell in W2. If it shows a REF error, put your cursor in the cell and at the end of the formula, add a space. See if that removes the REF error.

If that’s not the problem, are you seeing REF errors in the hidden parts of the sheets? If so, where?

Let us know if that fixed the problem.

Jon

[ksmith96]

Thanks! That fixed it.