Free Rental Property Chart of Accounts Template (Excel Spreadsheet)

Tired of scrambling at tax time to track down receipts and rent totals? Managing rental properties involves keeping accurate financial records, and that’s where a reliable chart of accounts becomes essential. I’m excited to offer our free chart of accounts for property managers in the real estate business, available in both Excel and PDF formats.

A good rental property chart helps you organize everything from property management fees to property taxes, creating clarity in your financial transactions. With the right accounting system, tracking your accumulated depreciation, income statement, and overall cash flow becomes much more manageable.

The best way to think of a chart of accounts is like a digital filing cabinet. Imagine every financial action your business takes as a document, and each of those documents fits neatly into a particular folder.

Rental Property Chart of Accounts Sample

This chart is designed to help you effectively track and categorize all financial transactions. It provides a comprehensive listing of all financial accounts in your business, organized to make tracking income, expenses, assets, liabilities, and equity seamless. A well-organized spreadsheet is key to guiding your financial decisions.

Assets

Listing assets first gives a solid overview of what you own. This includes bank accounts, accounts receivable (rent payments tenants still owe), the value of each single family home, and security deposits you hold.

Liabilities

Liabilities show what you owe and balance your assets. This category includes mortgage accounts, accounts payable (bills you must pay), and the security deposit liability for refundable deposits owed to tenants.

Equity

Equity tells you how much you truly own after debts. It measures your initial investment plus profits you reinvest (retained earnings).

Revenue

Revenue is the heart of your real estate investing. Use a rental income log for every rent payment you receive, including any late fees.

Expenses

Detailing expenses protects your profits. This includes property management fees, property taxes, maintenance expenses, utilities, insurance, and interest paid on mortgages.

How to Use a Rental Property Chart of Accounts Effectively

A Chart of Accounts is a key tool for financial record-keeping. Here’s how to put it to work:

• Categorize Every Transaction: When you log a payment or bill, assign it to the correct account. For example, rental income goes under revenue, while repairs go to maintenance expenses.
• Track Income and Expenses Weekly: Update your chart with rent payments, insurance costs, and management fees. Reconciling against business bank accounts makes it easy to spot errors.
• Prepare Financial Statements: With organized data, crafting an income statement or balance sheet feels effortless.
• Analyze Financial Data: At the end of each month, compare how your single family rentals perform versus multifamily units to spot trends and guide your next investing moves.

FAQs About Your Chart of Accounts