Specific examples related to property management is the manual entry of recorded rent payments, maintenance communications, and leads that come from rental listing websites. Data will not automatically generate for you. Excel and Google Sheets are data entry tools in which the user has to input the data and manipulate it as they wish. While these tools are helpful for tracking, they both have shortcomings. Limitations of Excel and Google Sheets Spreadsheets With Excel, version control must be done manually by sending it back between users.Īs a landlord and manager, Google Sheets may work better than Excel if multiple people are using the spreadsheet or if you need a real-time version on any device. It keeps a running tab of all the edits made within the sheet, that way you are able to revert back and forth from one version to the next without losing any of the information. With this shareable feature, Google Sheets does something known as version control for you. It also has sharing capability, allowing multiple people to edit a sheet at the same time and making it great for collaboration. Google Sheets is a cloud-based technology, meaning it can be accessed anywhere with an internet connection.
While the two are largely similar, there are some differences worth mentioning. Seeing the capabilities of Microsoft Excel, Google created their own application called Google Sheets. Overall, Excel is a simple, user friendly way to organize and track rental data, a common task for landlords and managers.īenefits of Google Sheets' Template for Property Management Today, Excel is a common feature on computers as it is included in the Microsoft Office package and hundreds of tutorials can be found online. It also makes data manipulation much simpler, allowing you to write in your own functions and create graphs and charts to demonstrate trends. Excel makes it easy for landlords to stay on top of their daily finances for their property, while keeping an eye on the long-term value of their investment. Benefits of Excel Property Management TemplateĮxcel is a powerful tool and seems to have endless functionality, with many features used only by “power users.” It works well for generating forecasts, using previous data to predict future results. We understand that you may not be ready for software to automate the process, so we included a tracking sheet at the bottom of this post to get you started.
Financials - tracking financials, from rent collection to tax information.Maintenance Requests - maintenance and repairs submitted by your tenants, the current status of each request, and the next steps.Service Professionals - your local support to help maintain the condition of the rentals.Tenants & Leases - the current residents who are living in your rental properties and high level lease term.Prospective Tenants - tenants who are interested in your rentals, from leads to applicants.Property Marketing - the description that sells the property, the features and amenities, the beautiful photographs, and other listing information.From a high level, the information to keep on record includes: The same process is required for one to 100 rental properties. Tracking the day-to-day operations is crucial to understand your financial health and to avoid lawsuits. Most importantly, this article includes a free, downloadable Excel and Google Sheets document for your rental property management. This article discusses the benefits, but also the limitations, of using Excel for your rental management. Google Sheets has also gained popularity in recent years. Excel is a preferred choice, because of its ubiquity, flexibility, and agility to add information. A spreadsheet organize the day-to-day rental operations.
0 kommentar(er)
