How do I set up rental property information in Quicken for Windows?
Quicken Business & Personal provides a complete solution for managing rental properties by tracking rental income, expenses, and tenant details. It helps landlords maintain accurate records, generate financial reports, and ensure compliance with tax requirements.
Setting up rental property tracking in Quicken involves:
- Adding an account to track rent payments
- Setting up rental properties to organize units and assign tenants
- Adding tenants and linking them to properties
- Importing data from Rental Property Manager v2 (optional)
Understanding how these components work together ensures accurate financial tracking and reporting.
Add an account to collect rent
Why do I need an account to collect rent?
In Quicken, transactions must be recorded under an account, such as checking, savings, or cash. This account serves as a central location where rent payments are tracked. If you receive rent payments in a bank account, you should add that specific checking or savings account. If you collect rent in cash, a cash account can be used.
How to add an account for rent payments
- Go to Tools, then select Add Account.
- Choose the type of account you use to collect rent (Checking, Savings, or Cash).
- Select Next, then follow the prompts to set up the account.
- Enter the account details, such as the bank name (if applicable) and opening balance.
- Select Finish to save the account.
Once set up, all rental income and expenses should be recorded in this account.
Add a rental property
Why should I add a rental property?
A rental property in Quicken represents a physical property you own and lease to tenants. Each property can have multiple rental units (for multi-unit buildings) and can be linked to specific tenants and transactions. By adding a property, you can track rental income and expenses separately from personal finances, ensuring clear record-keeping.
How to add a rental property
- Select the Rental Property tab, then select the Properties & Tenants menu.
- Select Add Property.
- Enter the property details, including:
- Property name (for example, Sunset Apartments)
- Property type (Single-unit or Multi-unit)
- Address (optional, for record-keeping)
- Select how to track the property’s value:
- Choose Link to a house account to track appreciation and depreciation.
- Skip this step if you do not need to track property value in Quicken.
- Select OK to save the property.
Once added, you can assign tenants and track rental transactions associated with the property.
Add a tenant and assign to a property
Why do I need to add a tenant?
Tracking tenants in Quicken allows you to manage lease agreements, rent due dates, and payment histories. Tenants are linked to specific properties, ensuring that rent payments are recorded accurately.
How to add a tenant
- Select the Rental Property tab.
- Select the correct Property and Unit.
- Select the Properties & Tenants menu.
- Select Add Tenant.
- Enter the tenant’s details, including:
- Tenant name
- Rent amount
- Property and unit if applicable.
- Rent due on
- Rent Account Name
- (Optional) Add contact information under the Contact tab.
- (Optional) Add lease details under the Terms & Agreement tab.
- (Optional) Record security deposit information under the Security Deposit tab.
- (Optional) Attach lease documents under the Documents tab.
- Select OK to save the tenant.
Once added, the tenant's rent payments can be tracked, and overdue payments can be monitored within the Rent Center.
Import data from Rental Property Manager v2 (Optional)
Why import data from Rental Property Manager v2?
If you previously used Rental Property Manager v2, importing data allows you to seamlessly continue tracking rental properties without re-entering information. This ensures past rental history, tenant records, and property details remain intact.
How to import data from Rental Property Manager v2
- Go to File, then select File Import.
- Choose Rental Property Manager v2 Data.
- Select Next, then follow the on-screen instructions.
- Review the imported data to ensure all properties, tenants, and transactions appear correctly.
After importing, verify that rent due dates and tenant payment records are accurate.
Note for our Canadian Customers
The following terms will be different in the Canadian releases of Quicken.
Canada: "Cheque" / United States: "Check"
Canada: "Colour" / United States: "Color"
Canada: "Centre" / United States: "Center"
Canada: "Realise" / United States: "Realize"
Canada: "Behaviour" / United States: "Behavior"
Canada: "Analyse" / United States: "Analyze"
This feature requires Quicken Business & Personal. This feature is not available in Canada, Learn how you can upgrade Quicken in minutes.