Download free excel template for maintaining general rental ledger account. This is a simple and easy to update excel template. This rental ledger format is useful for property owners, property management agencies and personal rental managers. Since, this template is fully customizable, you can make modification that meets your requirement.
About General Rental Ledger Account Excel Template
Once you download this template, you will find that this template has single worksheet. Trust me, that is all you need to manage your rental ledger. This template is mostly useful for multiple (more than 2) property managers. You can find the following features in this template:
- You can use the Ledger Year to create a year wise ledger. By default, it will be filled with 2019, you can change that as per your requirement.
- Gross Income informs about the total income as on date. You can link this to the income portion and create a summation of all the potential incomes.
- Total Expenses will detail out the total expenses incurred in the properties.
- Net Income section is the (Gross Income – Total Expenses). This details the money you are making and whether your portfolio of properties is profitable or not.
- Security Deposits or simply, deposits are refundable amount. This is presented separately in the template. You cannot call it income because this is refundable to the tenants after completion of the contract. However, you can recover some amount if there is any breach of terms and conditions stipulated in the contract (rent agreement).
This section contains details like property code (you can provide your own code or house number or flat number), address of the property, Rental amount (per month), Tenant name, phone number, move-in date and agreement renewal date.
This section consists of property code wise security deposit collected and refunded. This helps in creating a log of inflow and outflow of deposit money in your account.
Month wise rental income that you receive either in the bank or via cash can be updated for all the property code here. This will help you understand who has paid rents and who has not. Monthly reminder to tenants is a good practise to collect the rental income in a timely manner and manage your liquidity in the business.
Some property management companies and agencies offer other additional services like laundry, storage, parking, cleaning and maintenance etc. These services are directly attributable to income you generate from a specific property. Hence, you can update such items here by listing down your additional services and mapping it against the property code.
Expenses like gas, maintenance, yard, electricity, water, municipal charges, licenses, telephone, waste management, insurance, taxes, management fees etc. can be incurred while managing a property or bunch of properties. Hence, you can update all these expenses to never miss out on the payments (recurring ones) and keep track of trend of expenses.
Download and use General Rental Ledger Account Excel template
To use this free excel general ledger for rental account template, you should have Microsoft Office/ Microsoft Excel installed in your system.
Once extracted, you can open the file using Excel and start entering data or customizing the template.