Learning Center

Stay On Top Of Rental Records And Receipts Record-keeping is essential for effective rental property management, providing landlords with a strategic advantage. Well-maintained rental records and rent receipts help landlords avoid tax-related last-minute stress, stay organized, and save time during tax season. Whether you’re new to the rental business or a seasoned landlord, knowing the […]

Managing Tenant Security Deposits When tenants move into a rental property, they typically pay a security deposit, a financial safeguard that landlords hold until the lease ends. This deposit is essential for covering potential damage beyond normal wear and tear, unpaid rent, or other obligations the tenant might fail to meet. Security deposits provide property […]

Managing Rental Fees One of the cornerstones of successful property management is ensuring timely rent payments from tenants. Reliable tenants who pay rent on time help landlords maintain cash flow, cover expenses, and uphold the property’s upkeep. Alongside rent payments, it’s equally important to manage additional fees, such as pet fees or deposits, which contribute […]

What Goes Into Creating A Rental Property Income Statement? Creating a rental property income statement (sometimes called a profit and loss statement) is essential for landlords who want to understand their property’s financial performance. This document helps track expenses, income, and profitability, therefore offering insights that are invaluable for strategic planning and tax compliance. Whether […]

How To Track Rent Payments and Expenses Starting a rental property business is an exciting feat. In the buzz of that excitement, you’ll find yourself constantly overseeing a wide variety of expenses that can be difficult to keep track of. Once you finally receive your first rental property income, it can feel like all of […]

Should You Get A Separate Bank Account For Rental Property Investments? Maintaining a separate bank account for your rental property is a fundamental practice for all landlords and real estate investors that can offer numerous benefits to enhance your financial management and legal compliance. Below, we explore the key reasons why rental property owners and […]

Setting Up A Basic Budget As an investor running a profitable rental business, budgeting is everything. Owning a successful investment property requires making intelligent and intentional spending decisions to keep your expenses aligned with your income. Using strategies to stay proactive about accounting and budgeting is critical for the long-term success of any rental business. […]

An Investor’s Guide To Rental Depreciation In this article, we’ll explore rental depreciation. In the world of real estate investing, it’s crucial to have an understanding of rental depreciation and how it works, as it impacts your bottom line and can save you thousands of dollars in taxes. Below, we’ll walk you through what depreciation […]

Rental Expenses Being a landlord is much more complex than buying a property and renting it to tenants. Many landlords and real estate investors underestimate their rental property expenses and fail to record them properly, which takes away from both your profit and your tax deductions. It’s important to set aside money in your budget […]

Understanding And Tracking Rental Income Property management offers considerable earning potential for landlords, yet it also entails a host of responsibilities. From screening potential tenants to maintaining properties, landlords operate in a dynamic, fast-paced environment. To achieve success, landlords need more than just strong tenant relations or well-maintained properties, but also some financial savvy. Properly […]

Should You Hire An Accountant Or Use Accounting Software? As a landlord, you have a lot of financial tracking to do. Balancing your jobs as property manager and business accountant isn’t easy. It is easy, however, to get some form of help. While independence and a DIY attitude are in—there was a net increase of 82,367 […]

Should You Hire A Rental Property Bookkeeper? Managing a rental property business is no small feat. Between rent collection, property maintenance, tenant relations, and the constant influx of bills and notices, keeping track of rental property accounting details can be overwhelming. One aspect that often makes or breaks a successful operation is bookkeeping. For many […]