Landlord & Rentals
Profit and loss statement for a rental property
Rent arrives, the mortgage goes out, and in between sit the repairs, the property tax and the HOA. Two things on a landlord's statement are not what they look like: a security deposit is money held for a tenant rather than income, and a mortgage payment is mostly principal, which is not an expense at all.
Upload the statements your bank already sends you and we read every transaction, ask about the ones we cannot place, and build a Profit & Loss you can hand to whoever asked for it. Start without an account.
The categories a rental property gets
These are provisioned for you on day one — the same rows the product sorts your transactions into, with the suppliers it looks for.
- Rental IncomeMoney in
- Tenant rent deposits: monthly rent via check, ACH, Zelle, or property-management disbursements. The primary revenue for a landlord.
- Late Fee IncomeMoney in
- Late fees, application fees, and other small tenant charges collected in addition to rent.
- Repairs & MaintenanceRunning the business
- Property repairs and upkeep: plumbers, handymen, HVAC service, pest control (Terminix, Orkin), and Home Depot or Lowe's purchases for the property.
- Landscaping & CleaningRunning the business
- Landscaping, lawn care, snow removal, and cleaning or janitorial services for the rental property.
- Property Management FeesRunning the business
- Fees paid to a property management company for managing units, usually a monthly percentage of rent.
- Property TaxRunning the business
- County or city property tax payments on the rental property, often large semiannual payments to a tax collector.
- HOA FeesRunning the business
- Homeowners association or condo association dues for the rental property.
- Mortgage PaymentMoney you owe
- Monthly mortgage payments on the rental property to a lender or loan servicer (principal and interest combined).
- Tenant Security DepositsMoney you owe
- Tenant security deposits received (deposit) or refunded to tenants (withdrawal). Held funds owed back to tenants, not income.
The deposits that are not income
This is where an owner-prepared P&L usually goes wrong. Money can land in the account without being a sale, and money can leave without being a cost — and a lender notices when it has been counted anyway.
- Tenant Security DepositsMoney you owe
- Tenant security deposits received (deposit) or refunded to tenants (withdrawal). Held funds owed back to tenants, not income.
- Loan ProceedsMoney you owe
- Deposits from new borrowing: loan funding, SBA disbursements, merchant cash advances, and line-of-credit draws. Not revenue.
- Owner ContributionOwner's money
- Owner's personal money put into the business: capital injections and owner-funded deposits, often round amounts. Not revenue.
- Internal TransferNot on the P&L
- Movement between the business's own accounts: transfers to or from its own checking or savings. Excluded from the P&L entirely.
- Loan PaymentMoney you owe
- Payments on existing debt: loan installments, line-of-credit paydowns, and merchant cash advance repayments (principal portion).
We ask about these in plain English rather than guessing — “was this $10,000 deposit sales, your own money, or a loan?” — and you see every answer before you pay.
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Free to try — upload, answer the questions and see your draft numbers at no cost. You pay only when you download the finished report. See what it costs.
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