Hi there all,
I have two rental properties, and I use the Rental Manager sheet to keep track of them. It’s generally useful, but I’d like a way to see the change in Net Income for each property over time (after years of work I’ve finally finished all the remodeling and capital improvements and I’m excited to watch each property’s journey Out of the Red and Into the Black).
I’ve made my own very simple graph that I update manually each month, but that’s obviously a lot of work and conducive to mistakes. I would make an automated version but I don’t even know where to begin. Has anyone made something similar that I could co-opt or have any ideas how to do this?
You could look at the Monthly Analysis sheet and Net Worth Tracker as a baseline to configure a more automated method of tracking rental income vs expenses. Both of these sheets use a dynamic data range to generate their graphs. I’d start by modifying copies to only look at the groups/categories/tags you are interested in, and then make any modifications needed to increase the reporting range and add additional series.
Thanks! However, I know very little about how these sheets work and I don’t see anywhere in the Monthly Analysis sheet where I could get in there and cull the data that I’m not interested in. The dropdowns seem like they would be the place to start but it looks like you can only see either income OR expenses for a given category or group, not both simultaneously. I do have my rental property categories grouped together into [Property] Expenses and [Property] Income so if I knew how to add an additional filter then I could start playing with that. Is there an easy way to add another parameter to the sheet?
Sorry for the extremely basic questions but I know next to nothing about how to code a spreadsheet and this is such a specific thing that googling yields no useful answers!
Having groups for each of your properties is a great head start! To make things simpler, I would recommend using
[Property] as the name for both the income and expense groups rather than
[Property] Income and
[Property] Expenses. Because the related categories are already typed as
Expense, having the same group name won’t adversely affect how things show up in any sheets, but filtering down to a single property’s income and expenses will become much easier, espectially given that the
Monthly Analysis sheet already supports filtering by group for the table and chart at the top of the sheet (the bottom chart is all Income and Expense groups and categories).
There is still the matter that the top table and chart only reflect Income or Expenses, but that can be modified to include a net cashflow option. I’d need some time to dig into all of the corresponding formulas that would require editing, but it is certainly possible.