Much of the manual work becomes automated in a rental tracking app. Property management software such as a rent tracking app solves both problems, and it automatically does this.

Not a reliable way to track financial data.

If thinking about that didn’t give you a headache, that makes one of us. Then you’d have that many spreadsheets (or a billion-line spreadsheet). What if you have 20… 100? More? Way more?

However, it’s generally suggested that you use one spreadsheet for each property. It can feel like even more work, though with fewer mistakes.īy tracking rent with a spreadsheet in something like Excel, you can stay far better organized. Not only are you likely not tracking important pieces of information, only noting down when you received what rent payments, but you’re not using anything to confirm those amounts, such as online payment or check receipts. Option #1 is about as helpful as shooting yourself in the foot. Or you can use software to track your rent payments.You can track rent in a spreadsheet such as Microsoft Excel or Google Sheets.You can write a few notes in your smartphone’s notepad each month.There are essentially 3 ways you can do it: This is just as much a question for you as it is a question of what’s possible. With that said, let’s jump into the guide.įirst, let's talk about the different methods for tracking rent, from the most basic manual systems up to software along with which one is better (and why). Schedule a free demo of DoorLoop to learn how it can help you make tracking your rent payments each month easier than ever. A complete set of property accounting tools to track it all seamlessly.Automatic rent collection with multiple payment methods, that makes rent collection more reliable and automates late fees.A convenient tenant portal where your tenants can pay rent and handle others fees and payments quickly and easily.It makes rent tracking and rent collection a breeze, with tools like: then try DoorLoop's all-in-one property management software.īoth top-rated and award-winning, DoorLoop's suite of property management tools gives you everything you need to manage your portfolio. Allows you to collect rent more reliably each month (and on time).Quick Pick: Track your rent easily– and automatically– each month with DoorLoopīefore we move on, if you're looking for the fastest and most straightforward method for tracking rent each month that: Nowadays, there are many apps out there you can use to track rent payments– some that even allow you to collect rent directly from a tenant portal within the app.īelow, we’ll guide you through some of the best options.

What once took hours now takes a few minutes, with many tasks being outright automated with the right tool.Īnd that brings us to the purpose of this guide. Now, rent tracking apps and property management software have entirely transformed the chore of basic property accounting. However, it didn’t make you more efficient, just more organized. Then, old-school programs like Excel kept you from having to look at your lousy handwriting and made it easier to organize everything. Rent tracking was once, and can still be, a great big pain in the back house.

Rental property tracker plus