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A rent roll provides crucial information about the tenants occupying your units, including lease terms and rent collection data. A rent roll helps you manage leases because it shows expiration dates and tenants that need renewals. This helps you develop leasing strategies and ensure leases are current.
Although the QuickBooks software wasn't specifically written for rental property owners, it is possible to create a rent roll using QuickBooks. Before using QuickBooks to create a rent roll, a company file must be created to keep track of rental income and a tenant's security deposit.
The rent roll should contain individual rows to enter the following information for a single-family or individual units in a multifamily property: Unit number. Size (in square feet) Beds/Baths. Tenant Name. Monthly Rent. Rent Collected. Late Fees. Additional Rent (pets, roommates, parking)
Information on a rent roll includes whether or not a unit is occupied, who the tenant is, the tenant's payment history and security deposit being held, how long the tenant has occupied the property, and the expiration date of the current lease.
A rent roll is a list of a property's current tenants and how much they pay in rent. In practice, a rent roll is perhaps the best way to determine the true income of an existing commercial property.