To effectively manage a rental property, it is important to keep track of income and expenses.
This section includes income generated from the rental property.
This section includes all of the expenses associated with the rental property. Enter expenses with “-” sign to ensure proper calculation. Track of all expenses including property management fees, insurance, repairs, and mortgage payments to accurately assess the profitability of the rental.
To determine the overall profitability of the rental property, add up the rental income and expenses associated with the property. By subtracting the total expenses from the rental income, you can determine the net profit of the rental property. This information can be used to make informed decisions about the management of the property.