Free Rental Property Income & Expense Tracker - Landlord Cash Flow Calculator

Track Rental Income, Expenses, NOI, and Monthly Cash Flow

Professional rental property income and expense tracker for landlords, property managers, and real estate investors. Track monthly rental income, operating expenses, mortgage payments, and automatically calculate cash flow, Net Operating Income (NOI), expense ratio, and annual property performance. Simplify rental property accounting and bookkeeping with our free, easy-to-use calculator - no spreadsheets required.

Complete Rental Property Expense Tracking Features

• Rental Income Tracking: Monitor monthly rent, vacancy losses, and other income sources
• Vacancy Rate Calculator: Factor in realistic vacancy rates (5-10%) for accurate income projections
• Mortgage Payment Tracking: Track monthly mortgage or debt service payments
• Property Tax Management: Annual property tax automatically converted to monthly
• Insurance Tracking: Annual insurance premiums calculated monthly
• Maintenance Budgeting: Set maintenance as percentage of rent (typically 5-10%)
• Property Management Fees: Calculate management fees as percentage (8-10% standard)
• Utility Expense Tracking: Track owner-paid utilities monthly
• HOA Fee Management: Monitor homeowners association fees
• Cash Flow Calculator: Instant monthly and annual cash flow analysis
• NOI Calculator: Net Operating Income before debt service
• Expense Ratio Analysis: Operating expenses as percentage of income
• Annual Summary: Comprehensive yearly income and expense report
• Profitability Analysis: Real-time assessment of property performance

Common Rental Property Expenses

Fixed Monthly Expenses:

• Mortgage Payment: Principal and interest on property loan
• Property Tax: Annual tax divided by 12 months (typically 1-2% of property value)
• Property Insurance: Annual premium divided by 12 (typically $800-$1,500/year)
• HOA Fees: Monthly homeowners association dues if applicable

Variable Operating Expenses:

• Maintenance & Repairs: Budget 5-10% of monthly rent or 1-2% of property value annually
• Property Management: Typically 8-10% of monthly rent for professional management
• Utilities: Water, sewer, trash, gas, electric if owner-paid
• Landscaping & Snow Removal: Seasonal maintenance costs
• Pest Control: Regular or as-needed treatments
• Capital Expenditures: Roof, HVAC, appliances, major repairs

Understanding Key Rental Property Metrics

Monthly Cash Flow: Total rental income minus all expenses including mortgage. Positive cash flow means the property generates profit. Target $100-$300+ per unit for single-family rentals, $50-$150 per door for multifamily. Negative cash flow means you pay out of pocket monthly.

Net Operating Income (NOI): Rental income minus operating expenses, before mortgage payments. NOI = Gross Income - Operating Expenses. Used to calculate cap rate and evaluate property performance independent of financing. Higher NOI indicates better property performance.

Expense Ratio: Operating expenses as a percentage of gross income. Formula: (Operating Expenses ÷ Gross Income) × 100. Good ratio: 35-50%. Excellent: 30-40%. High: 60%+. Lower ratios indicate efficient property management and better profitability.

Vacancy Rate: Percentage of time property sits empty. Industry standard: 5-10%. High-demand markets: 3-5%. Slower markets: 10-15%. Factor vacancy into all income calculations for realistic cash flow projections.

Rental Property Expense Management Best Practices

• Budget Conservatively: Use 10% vacancy rate and higher maintenance estimates for safer projections
• Track Every Expense: Document all costs for tax deductions and accurate profitability analysis
• Build Reserve Fund: Save 3-6 months of expenses for emergencies and vacancies
• Review Monthly: Analyze income and expenses monthly to identify trends and issues early
• Separate Accounts: Use dedicated bank accounts for rental property finances
• Plan for CapEx: Budget for major repairs and replacements (roof, HVAC, water heater)
• Regular Maintenance: Preventive maintenance reduces major repair costs long-term
• Professional Management: Consider 8-10% management fee if managing multiple properties
• Annual Review: Evaluate property performance annually and adjust rent to market rates

Tax Deductible Rental Property Expenses

Landlords can deduct these expenses from rental income for tax purposes:

• Mortgage interest (not principal payments)
• Property taxes
• Insurance premiums
• Repairs and maintenance
• Property management fees
• Advertising and marketing
• Legal and professional fees
• Utilities paid by owner
• HOA fees
• Depreciation (approximately 3.636% annually over 27.5 years)
• Travel expenses for property management
• Office supplies and software

Monthly Cash Flow Analysis

Positive Cash Flow Property Example: $2,500 monthly rent - $150 vacancy (6%) - $1,200 mortgage - $300 taxes - $100 insurance - $125 maintenance (5%) - $200 management (8%) - $150 utilities = $275 monthly positive cash flow. Annual cash flow: $3,300. This is a profitable rental property.

Negative Cash Flow Property Example: $2,000 monthly rent - $100 vacancy (5%) - $1,500 mortgage - $350 taxes - $120 insurance - $200 maintenance (10%) - $160 management (8%) - $100 utilities = -$430 monthly negative cash flow. Annual loss: $5,160. Property requires rent increase or expense reduction.

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