Investment Property Income and Expense Tracker
This app simplifies tracking the income and expenses of investment property by creating a cash flow table. This is how we recommend doing it.
Why Have Two Bank Accounts Per Investment Property
Having two bank accounts for each investment property, a mortgage account and a current account, will make your money management easier. Rental income from your investment property should be paid into the current account. Expenses for your investment property should be paid from the current account. Mortgage repayments for the investment property will be paid from the current account to the mortgage account.
By including transactions from both accounts the app will automatically provide an accurate monthly financial position for your investment property.
Example Cash Flow Table for "Investment Property A"
- The top line "Investment Property A" shows if overall you are making money or not.
- Mortgage Interest is an expense, so it has it's own line.
- Mortgage Payments will sum to zero as they are a debit from the current account and a credit to the mortgage account.
- It does NOT take into account any required loan reductions, as they are NOT expenses. It's still your money. For example your bank may (principal & interest mortgage) or may not (interest only mortgage) require you to reduce the size of your debt.
Adding the account names to the rules will ensure that you never get mixed up between properties or your personal expenses.
Want To Try It?
Using the sample transactions provided (login to see the download button on this page) you can create rules to show a cash flow table like the one above, to see how simple the process is.