Landlord Accounting Software Tutorial: Find the Unit That Lost Money

Your spreadsheet can't easily tell you which unit lost money. Property-management software can, if you set up one habit.

1 — Rent becomes income on its own

Every rent payment you record shows up in accounting as income, with the date, amount, property and tenant. Nobody re-types it into a second system.

2 — Log every expense against a unit

A one-time expense (say, a $1,240 water heater at Maple Grove Unit B) goes in with the property, description, date, amount and an account like Repairs & Maintenance.

3 — Add recurring costs once

Insurance, HOA dues, utilities: add them as a recurring expense and they post every month.

4 — Run profit & loss for one unit

Pick the unit and run Profit & Loss. In the demo, Oak Street Unit 2 had no rent yet this period and $185 in repairs, so its net is negative. That's the unit that lost money.

The monthly habit

Record rent when it comes in, log every expense against a unit, and run profit & loss by unit every month. At tax time it's already sorted.

Free setup checklist (with the expense accounts to create first): comment SETUP on the video or go to upnexs.com/setup.

▶ https://youtu.be/Jog_4WF-JlM