Tracking rental properties can be time-consuming without the proper tools at your disposal.
Google Sheets is an online spreadsheet program that comes with various tools and functions to organize and analyze massive datasets. It is the best tool for rental property management if you are a real estate investor, landlord, or property manager.
Investing in rental properties is an excellent idea to grow your net worth.
A thoughtfully designed rental property management spreadsheet aims at saving your time, improving communication with tenants, reducing tax deductions, and increasing financial performance.
In this article, let us discuss the top 8 Rental Property Spreadsheet Google Sheets Template to get the most out of your property investments. We will also discuss the instructions to use those templates, so read the article until the end.
Why are Rental Property Spreadsheet Templates created using Google Sheets a must-try?
Various templates are created using Google Sheets to let users save time and money.
It offers convenient and effective ways to track expenses, organize assets, and forecast future growth.
The benefits of using Google Sheets for rental property management include,
- Collaboration – A Google Sheet can be shared with unlimited users. You can share it with your friends, family members, and colleagues without any limitations. It also allows you to assign specific roles to each user. All the edits made by the users are recorded within the Version history tool.
- Ease of Use – It is a decade-old spreadsheet software with a short learning curve. You can easily add information and apply formatting. All essential tools are quickly accessible through the toolbar section and main menu.
- Budget-friendly – In contrast to those premium apps to track rental properties, Google Sheets offers a free alternative. It is a totally free-to-use program. All you need is a free Google account. Everyone can use it for free without any limitations.
- Accessibility – Google Sheets is a cloud-based spreadsheet software. It is compatible with all types of devices, including desktop and mobile. You can use it from anywhere in the world as long as you have an active internet connection.
You can easily add more features to your rental property management spreadsheet. It all boils down to your knowledge of Google Sheets and its functions. Automating various repetitive tasks is also a breeze with Apps Script.
Overall, Google Sheets is the right tool to track your rental property expenses.
What is a Rental Property Spreadsheet?
Real estate is one of the long-term investment plans with higher returns. Buying and renting a property comes with two advantages,
- The owner receives monthly rental income
- The value of the property increases exponentially over time if you decide to sell it in the future
A rental property spreadsheet plays a crucial role in recording and managing your income and expenses. It is designed to keep track of everything from monthly rent to yearly tax deductions.
The template aims at saving your time and money.
The template’s design varies based on whether you are a landlord, owner, or real estate investor. But the overall purpose of the template is to allow users to track expenses, monthly earnings, yearly tax deductions, etc.
Top 8 FREE Rental Property Spreadsheet Google Sheets Template
There are tens of templates available online for managing rental properties. It will be time-consuming for you to test each of them and find the right fit.
So, we have decided to do the heavy lifting for you.
Our team at SoftwareAccountant have compiled a list of the best rental property management for real estate investors, landlords, or property managers.
Let’s discuss them one by one. Note that the list is sorted in random order.
1. Rental Property Earnings Spreadsheet – SoftwareAccountant
Click Here To Use The Template!
This template is all you need to track and manage earnings from your rental properties.
It is a comprehensive spreadsheet by SoftwareAccountant that comes with an attractive design.
It includes only one spreadsheet with a huge table. At the top, you can enter your property details.
The template is optimized for both desktop and mobile users. You can easily add, edit, and remove information with the help of a smartphone.
How to use this template
At the top of the template, you can add your personal details including name, address, and contact info. Beside the personal information, the template contains a little dashboard to display your gross income, total operating expenses, and net income.
You need to start by entering the details of your rental properties. The template allows you to add property addresses, tenant names, rent amounts, etc.
Then, add the monthly rent received from each tenant along with the maintenance charges, insurance fees, legal fees, etc.
The template uses formulas to calculate the total earnings from your property. You should avoid editing the cells that contain the formulas; otherwise, the template won’t work as expected. To let you quickly identify the cell containing the formulas, they are highlighted with a light green colored cell background.
It is pretty straightforward. Make sure to dedicate a few minutes to initially understanding and learning the template.
2. Rental Income and Expense Worksheet by PropertyManagement
Click Here To Use The Template!
This is another comprehensive rental property management template on this list.
It is designed by the experts at PropertyManagement to allow users to track expenses and boost income effectively.
The template may feel complex in the beginning. But don’t worry because, with time, you will get used to it.
It uses formulas throughout the spreadsheet to calculate the total monthly rent by each property, total deposit, and other expenses by each property.
How to use this template
At the top of the template, you need to enter the details of your properties. Also, make sure to select the current year.
The template automatically calculates gross income, total expenses, net income, and total amount received as a deposit. Avoid editing this section of the template.
There are a total of seven tables in this template.
- Property Details Table
- Security Deposit Table
- Rental Income Table
- Other Income Table
- Monthly Expenses Table
- Operating Expenses Table
- Other Expenses Table
Each of the above tables is self-explanatory. Make sure to assign a dedicated time to learn each table.
At the end of each table, the total amount is calculated. The rows highlighted in the light orange color calculate the total amount using a formula. Avoid editing them.
Note that the rental income, monthly expense, and operating expenses tables are divided into months.
3. Rental Property Income Statement Template by Stessa
Click Here To Use The Template!
It is an easy-to-use rental property income spreadsheet with a huge table.
This template by Stessa is designed to allow users to accurately track revenue from their rental properties and boost earnings by quickly identifying the opportunities.
The entire template is divided into months. At the end of the table, total earnings, operating expenses, and tax deductions are calculated for each month.
How to use this template
The template is divided into four main sections:
- Gross Monthly Rental Income
- Operating Expenses
- Net Operating Expenses
- Pretax Net Income
The Gross Monthly Rental Income section allows you to record monthly rent, late fees, pet rent, and other income from tenants.
Similarly, Operating Expenses include property management fees, leasing fees, repairs and maintenance costs, pest control charges, landscaping charges, utility bills, property taxes, and more. You can add more operating expenses by inserting a new row in this section of the table.
The template automatically calculates monthly Gross Rental Income and Total Operating Expenses based on the monthly numbers.
On the far right side of the table, the template calculates the yearly rental income and operating expenses using formulas.
Unlike previous templates where the cells holding the formulas were highlighted using color, this template doesn’t have such conventions. So, before you start entering numbers, make sure to check the cell content.
4. Rental Property Expense Tracking Template by Stessa
Click Here To Use The Template!
This is another masterpiece by the expert at Stessa. It aims at tracking the rental property expenses.
The template comes with a minimal design. Anyone can use it without any prior Google Sheets experience.
It includes a massive table with types of expenses on the x-axis and months on the y-axis.
How to use this template
It is a fully customizable template where you can add your personal details or company name and logo in the header.
Once you are done adding the personal or business details, select the year and the starting month.
Note that you should avoid editing the cells highlighted with light blue color. They contain formulas and essential reference information for the proper functioning of the template.
The template also allows you to add the owner and project manager’s name.
The main table comes with predefined standard expenses. However, if you feel like any of your property expenses are missing, just add a row and enter the name of the expense.
The template lets you track advertising, travel, cleaning, maintenance, and other property management charges by default. You can also track insurance fees, taxes, commissions, professional fees, the amount spent on supplies, and much more.
5. Rental Real Estate Analysis
Click Here To Use The Template!
This comprehensive template focuses on storing all the information related to your rental property.
It is an ultimate spreadsheet to help users forecast the overall income over the next few years using their rental property.
At first glance, the template may look quite confusing to you. Let me help you in the following section.
How to use this template
From the property price to the overall income and yearly returns, the template includes a variety of tables.
There are two spreadsheets in this template:
- Financial Summary – This spreadsheet gives you a quick overview of your investments. It includes property purchase and mortgage details. The table highlighted in light green displays the overall performance and revenue generated by your property concerning the current date. Add the monthly rent and property expenses to the Calculation Assumptions table. All these values from the Calculation Assumptions are used in the next spreadsheet for forecasting your income over the next few years.
- Financial Analysis – This is the main spreadsheet containing your income for the next few years. It includes lots of formulas which must be kept from being edited. The entire spreadsheet is fully automated using various built-in functions in Google Sheets.
Note that you are supposed to add the information in the Financial Summary spreadsheet while making sure to edit the cell highlighted in the light blue color.
It is pretty straightforward once you understand the meaning of each table.
6. Rental Income Template by Spreadsheetpoint
Click Here To Use The Template!
This rental property management template by Spreadsheetpoint is easy to use. It uses a simple color code, which is pretty straightforward.
The template is designed to let you calculate income and total money spent on operating expenses over a year.
How to use this template
It includes a huge table divided into five properties. You can add rent and monthly expenses for each property.
By default, the template allows you to enter expenses such as maintenance costs, insurance fees, legal fees, and consultant charges. If you wish to track more expenses related to your property, feel free to add more rows to the spreadsheet.
The formulas of the template will be automatically adjusted when you add a row.
At the button of the table, you will find the Annual Gross and Net Income for each property. The template uses built-in functions to auto-calculate these values.
The final row of the table calculates the Total Overall Net income.
Avoid editing the cells that hold the formulas; otherwise, the template won’t work as expected.
You will notice an orange-coloured table on the far right side of the spreadsheet. It allows you to specify the market value of each property. You can also keep track of the deposit submitted by each tenant.
7. Rental Property Cash Flow Analysis
Click Here To Use The Template!
Are you just starting with property investment?
This spreadsheet template for rental property management uses an intuitive design for beginners. It is focused on managing a single property.
It is totally free to download. You can customize it as per your preference without any limitations.
You don’t need any expert Google Sheets knowledge to use this template.
How to use this template
The template includes only one spreadsheet, which allows you to manage a single property. Note that you can duplicate the spreadsheet as often as possible if you have more than one property.
There are three tables in the spreadsheet:
- Gross Cash Flow/Income
- Net Cash Flow After Debt Service
- Gross Operating Expenses
All of them are self-explanatory and serve a specific purpose in this template.
You can add the monthly rent along with the additional income from your property in the Gross Cash Flow/Income table.
Similarly, the Gross Operating Expenses table will mention all of the operating expenses. You will be able to enter leasing fees, property management fees, maintenance costs, utility bills, etc.
All of your property purchase details and mortgage details need to be added to the Net Cash Flow After Debt Service table.
At the bottom, the template automatically calculates net operating income, cash-on-cash return percentage, cap rate, and property value using built-in Google Sheets functions.
8. Landlord Rental Property Spreadsheet (Paid)
Click Here To Buy The Template!
This is our final pick on this list. The template is available on Etsy; you must pay $7.61 to own it.
After paying the charges, you can customize it as per your preference by adding personal details, including name and logo.
It is an advanced template with an excellent design. Beautiful charts and graphs are worth the price.
How to use this template
The template includes various spreadsheets to efficiently manage your expenses and boost revenue through the rental properties.
- Annual Dashboard
- Monthly Tracker
- Tenant Tracker
- Tenant Ledger
- Property Comparison
The Annual Dashboard displays a comprehensive report of each property and its income. It is a fully automated spreadsheet where you only need to select the property to view the reports.
Similarly, the Monthly Tracker spreadsheet records monthly revenue and expenses. The Annual Dashboard spreadsheet uses the data added here.
Make sure to keep track of all the essential information related to your tenants using the Tenant Tracker and Tenant Ledger spreadsheets.
Built-in functions and charts empower the template. It boasts excellent visuals to give you an instant idea of the net income from your property.
FAQs
Q. How do I create a Rental Property Management Spreadsheet in Google Sheets?
It is simple to create a rental property management spreadsheet.
Google Sheets has a short learning curve. You will quickly learn to add information and apply formatting.
However, learning built-in tools like conditional formatting and functions takes time.
Creating a simple table to keep track of revenue and monthly expenses is pretty straightforward. But things get complicated when you wish Google Sheets to calculate the gross and net income over a year automatically.
So, instead of diving deep into the nitty-gritty of creating a spreadsheet template for rental property management from scratch, try to select one of the best FREE Google Sheets Rental Property Management templates discussed in this article.
Q. What is a spreadsheet in real estate?
Property Managers use a spreadsheet to keep track of the things that help them boost revenue and manage expenses related to their properties.
They also use spreadsheets to organize their tenant details.
A spreadsheet may be designed using Microsoft Excel or Google Sheets. However, we suggest going for the Google Sheets spreadsheet as it has a lot of flexibility and offers the benefits discussed at the beginning of this article.
A spreadsheet should help a real estate investor, landlord, or property manager save time and boost net worth,
Q. How is Google Sheets used in property management?
Google Sheets offers state-of-the-art tools and functions to help property owners keep track of their rental income, expenses, and budgets.
You can perform a series of tasks related to property management.
Excel is one of the popular spreadsheet programs which has been a go-to tool for property owners for the last few years. In 2024, Google Sheets has become the top alternative to Microsoft Excel. Make sure to read the benefits of using Google Sheets for rental property management discussed at the beginning of this article.
Q. How do I keep track of my rental property expenses?
It’s easy! Choose one of the best FREE Rental Property spreadsheets discussed in this article. All of them contain a table to track the standard expenses related to your property.
You can keep track of expenses such as advertising charges, leasing fees, repairs and maintenance costs, pest control charges, landscaping charges, utility bills, property taxes, and more.
The template automatically calculates the total amount spent on rental property expenses over a month and year.
Q. Is there any free Rental Property Spreadsheet template using Google Sheets?
There are tens of free rental property spreadsheets available on the internet. This article discusses the top 6 free-to-download Rental Property Google Sheets templates above.
You can copy them to your Google Drive and start customizing them without limitations.
Few of the free templates come with advanced functionalities, such as forecasting the rental property revenue over the next few years.
Click here to download SoftwareAccountant’s best Rental Property spreadsheet template.
Conclusion
A rental property spreadsheet offers a convenient way to keep track of monthly revenue and operating expenses.
Accurately tracking property expenses allows real estate investors to make informed decisions by identifying potential opportunities. Moreover, it also helps to reduce tax deductions.
We have discussed 2024’s best template and the steps to make the most out of them.
I hope you have found the best rental property spreadsheet template for your requirements. Feel free to comment below if we are missing any fantastic templates worth adding to this article.
Remember to visit our blog for more templates to save time and money by effectively managing your day-to-day expenses.