Rental property bookkeeping examples: free Excel template + automatic method

“Bookkeeping for rental properties is complicated.” That’s a common sentiment from landlords who haven’t found the right system yet. The reality is that rental bookkeeping doesn’t have to be complex—what matters is having the right format and consistently filling it in.

The problem is that many landlords don’t know where to start. What does a proper bookkeeping format look like? What columns should be included? How do you calculate net profit?

In this article, you’ll see ready-to-use bookkeeping examples for rental properties—from recording income and expenses to monthly summaries. We also provide a free Excel template you can download right away, plus an automatic method for those who want a more hands-off approach.

Why rental bookkeeping matters

Before jumping into examples, let’s refresh why bookkeeping deserves your serious attention.

Know your real profit

Income from 10 rooms at $150/month = $1,500 per month. Looks good, right? But after subtracting electricity for common areas, water, internet, security staff, repairs, and taxes—how much is actually left? Without bookkeeping, that number is just a guess.

Detect problems early

Mounting arrears, skyrocketing repair costs, or declining occupancy—all of these are clearly visible in proper bookkeeping. Without records, problems only become apparent when they’re already serious.

Be ready for tax season

Rental income is subject to income tax in most countries. With clean bookkeeping, calculating and reporting taxes is as simple as looking up your total income—no need to reconstruct a year’s worth of data at the last minute. Read our complete guide to rental property bookkeeping for taxes for details.

Make data-driven decisions

Want to raise rent? Add WiFi? Renovate bathrooms? All these decisions are better when based on accurate financial data, not gut feeling.

Example 1: Rent income bookkeeping

This is the most basic record every landlord needs. Every payment received should be logged with the following details:

Income table format

No	Date	Tenant Name	Room	Rent	Amount Paid	Balance	Method	Notes
1	2026-02-05	Andi Pratama	A1	1,500,000	1,500,000	0	Bank transfer	Paid Feb
2	2026-02-03	Budi Santoso	A2	1,500,000	1,500,000	0	Cash	Paid Feb
3	2026-02-10	Citra Dewi	A3	1,200,000	0	1,200,000	-	Unpaid
4	2026-02-10	Dian Kusuma	B1	1,800,000	1,800,000	0	Bank transfer	Paid Feb
5	2026-02-15	Eko Wijaya	B2	1,200,000	0	1,200,000	-	Unpaid
			TOTAL	7,200,000	4,800,000	2,400,000		Paid: 3, Unpaid: 2

Example Excel template for rent payment recap and tenant data

Things to note

The “Balance” column is crucial for tracking arrears. With the formula =Rent - Amount Paid, Excel automatically calculates who still has an outstanding balance
The “Method” column helps when reconciling with bank statements
The “Notes” column is for additional context like “Partial payment, rest end of month”
Create one sheet per month to keep things organized and easy to compare

Tip: Don’t mix security deposits with rent income. Deposits are not income—they’re a liability that must be returned. Create a separate table for deposits.

Example 2: Expense bookkeeping

Recording income alone isn’t enough. Without expense records, you can’t calculate net profit.

Expense table format

No	Date	Category	Description	Room/Area	Amount	Method	Receipt
1	2026-02-01	Operations	Common area electricity	Common	450,000	Auto-debit	Yes
2	2026-02-01	Operations	Water utility	Common	280,000	Transfer	Yes
3	2026-02-01	Operations	WiFi internet	Common	500,000	Auto-debit	Yes
4	2026-02-05	Operations	Security staff salary	Common	800,000	Cash	Receipt
5	2026-02-08	Maintenance	AC servicing	A1, A2	300,000	Cash	Receipt
6	2026-02-12	Repairs	Pipe leak fix	B1	350,000	Cash	Receipt
7	2026-02-15	Maintenance	Light bulbs, cleaning supplies	Common	85,000	Cash	Receipt
8	2026-02-20	Admin	Neighborhood security fee	Common	70,000	Cash	Receipt
				TOTAL	2,835,000

Recommended expense categories

Don’t go overboard or too minimal. These four categories work for most rental properties:

Category	Examples	Frequency
Operations	Electricity, water, internet, staff wages	Monthly
Maintenance	AC servicing, pest control, supplies	Periodic
Repairs	Pipe leaks, broken locks, repainting	Unplanned
Admin	Taxes, neighborhood fees, insurance	Monthly/annual

Important: Record even the smallest expenses. Buying a light bulb for $1, paying a handyman $4—these small costs add up. Over a year, they can total hundreds of dollars.

Example 3: Monthly summary (profit and loss)

This is the overview that combines income and expenses into one complete picture.

Monthly summary format

FINANCIAL SUMMARY - KOS GRIYA ASRI
Period: February 2026
========================================

A. INCOME
   Room rent (5 rooms)        : 7,200,000
   Tenant utility charges     :   750,000
   Late fees                  :    50,000
   ----------------------------------------
   TOTAL INCOME               : 8,000,000

B. EXPENSES
   Fixed operations           : 2,030,000
   Maintenance                :   385,000
   Repairs                    :   350,000
   Administration             :    70,000
   ----------------------------------------
   TOTAL EXPENSES             : 2,835,000

C. SUMMARY
   NET PROFIT (A-B)           : 5,165,000
   Profit Margin              : 64.6%
   Occupancy Rate             : 100% (5/5 rooms)
   Collection Rate            : 66.7% (3/5 paid)
   Outstanding Arrears        : 2,400,000

D. NOTES
   - Citra (A3) and Eko (B2) haven't paid
   - Room B1 pipe fixed
   - Room A1 and A2 AC serviced

Key metrics to track

Metric	Formula	Healthy Target
Profit margin	Profit ÷ Income × 100%	60-75%
Occupancy rate	Occupied rooms ÷ Total rooms × 100%	Above 85%
Collection rate	Payments received ÷ Total billed × 100%	Above 90%
Cost per room	Total expenses ÷ Number of rooms	Lower is better

For deeper analysis on these metrics, read how to create clean rental financial reports.

Example 4: Tenant data records

Beyond finances, tenant data is also an important part of rental bookkeeping.

Tenant data table format

No	Name	ID Number	Phone	Room	Move-in Date	Rent/Month	Status
1	Andi Pratama	3201234567890001	081234567890	A1	2025-01-15	1,500,000	Paid
2	Budi Santoso	3201234567890002	082345678901	A2	2025-02-01	1,500,000	Paid
3	Citra Dewi	3201234567890003	083456789012	A3	2025-03-10	1,200,000	Unpaid
4	Dian Kusuma	3201234567890004	084567890123	B1	2025-01-20	1,800,000	Paid
5	Eko Wijaya	3201234567890005	085678901234	B2	2025-04-01	1,200,000	Unpaid

Additional information to include

Move-out date (if known)
Emergency contact
Security deposit (amount paid)
Special notes (allergies, shift work schedule, etc.)

Tip: Tenant ID data is sensitive. If using a spreadsheet, make sure the file is password-protected. A more secure alternative: use an app that stores data with encryption like Kamaru. Read the guide to managing tenant documents digitally for full details.

Free Excel template

We’ve prepared an Excel template that covers all the examples above. The template includes:

Available sheets

Payment Recap — Monthly rent income table with automatic formulas (totals, paid/unpaid counts)
Tenant Data — Complete tenant database with ID numbers, contacts, and status

How to use the template

Download the template from the link below
Duplicate the “Payment Recap” sheet for each new month (right-click tab → Move or Copy → Create a copy)
Fill in tenant data in the “Tenant Data” sheet when new tenants arrive
Update payments every time a payment comes in
Review the recap at the end of each month

Download template

Download Free Excel Template

Template advantages

Automatic formulas for totals and balances
Conditional formatting: green for paid, red for unpaid
Print-ready (A4 format)
Works with both Excel and Google Sheets

Excel template limitations

While useful, Excel templates have limitations:

No automatic reminders — You have to remember who hasn’t paid
ID photos stored separately — Photo files must be kept in a separate folder
Prone to typos — No input validation for ID numbers or amounts
Hard to use on mobile — Spreadsheets aren’t comfortable to edit on small screens
No automatic backup — Unless using Google Sheets or OneDrive
Not connected — Tenant data, payments, and reports are in different sheets without integration

The automatic method: app-based bookkeeping

If you manage more than 5 rooms or want a more practical process, the automatic method saves time and reduces errors.

How it works in Kamaru

With Kamaru, bookkeeping happens automatically as you manage your property day-to-day. No separate sheets to fill in—everything is integrated.

Recording income:

Every time you log a rent payment, the data automatically feeds into your financial report. Including tenant name, room, date, amount, and payment method.

Tenant payment history with status and transaction details

Recording expenses:

Log operational, maintenance, and repair expenses directly in the app. Pick a category, enter the amount, and you’re done.

Property expense history with monthly and room filters

Automatic reports:

From the data you’ve recorded, Kamaru automatically calculates financial summaries—income, expenses, balance, arrears, and occupancy rate. Filterable by property and time period.

Financial report summary with income, arrears, and transaction history

Export reports:

Need reports in a file format? Export to PDF or CSV directly from the app.

Cash flow report with PDF and CSV export options

Learn more about these features in the financial report guide and expense tracking guide.

Comparison: Excel vs automatic method

Criteria	Excel Template	Kamaru
Price	Free	Free (basic features), Pro for full reports
Setup time	15-30 minutes	5 minutes
Data entry	Type manually	Record payment → automatically in report
Reports	Create manually each month	Automatic from recorded data
Mobile access	Limited	Full
ID photos	Separate folder	Integrated in tenant profile
Backup	Manual (unless Google Sheets)	Automatic cloud backup
Arrears reminders	None	Coming soon
Best for	Small properties (1-5 rooms)	All property sizes

Recommendation

1-5 rooms, just starting out: The Excel template is sufficient. Focus on building consistent recording habits first
5-10 rooms: Consider switching to an app. The time saved from manual entry starts to add up
10+ rooms: Strongly recommended to use an app. Managing spreadsheets for dozens of tenants and transactions per month becomes exhausting

Tips for consistent bookkeeping

Whichever method you choose, the key to success is consistency. Here are tips to keep your bookkeeping clean:

Record immediately

Don’t delay. The moment a payment comes in—whether by transfer or cash—record it right away. Delaying even one day can make you forget details like the exact amount or payment method.

Set a review schedule

Set aside 15-30 minutes at the end of each week to review your records. Make sure all payments are recorded and nothing is missed. At month-end, create a full summary.

Save all receipts

Photograph every receipt and invoice. For bank transfers, screenshot the proof. Save them in a digital folder organized by month.

Separate business accounts

If all rental transactions go through a separate bank account, reconciliation becomes much easier—just match your records against the bank statement.

Don’t skip small expenses

Bought a broom for $2? Record it. Replaced a light bulb for $1? Record it. Small expenses that go unrecorded can add up to hundreds of dollars per year, making your profit look larger than reality.

Common bookkeeping mistakes

Only recording income

This is the most common mistake. Many landlords are diligent about recording who has paid but never record expenses. The result: the profit that “feels” large turns out to be far less impressive once all costs are accounted for.

Recording deposits as income

Security deposits are not income. They’re a liability that must be returned when the tenant leaves. Mixing them with rental income will distort your financial reports and potentially cause you to overpay taxes.

Being inconsistent

Diligently recording in January and February, then skipping until June. Three months of missing data is extremely difficult to reconstruct, making annual reports inaccurate.

Using too many formats

Income in a notebook, expenses in a phone notes app, tenant data in WhatsApp. When you need a recap, you’re opening 3-4 different sources. Use one system—whether it’s Excel or an app.

For more mistakes to avoid, read 10 fatal mistakes rental property owners make.

FAQ

Are landlords legally required to keep books?

In most countries, anyone earning rental income must keep records for tax reporting purposes. Practically speaking, bookkeeping is also essential to understand your property’s real financial health.

How often should I update my bookkeeping?

Ideally, every time there’s a transaction. At minimum, weekly for review and monthly for summaries. The more frequently you update, the more accurate your records.

Can I use Google Sheets instead of Excel?

Yes, and it’s actually better in some ways. Google Sheets is free, automatically saved to the cloud, and accessible from your phone. Our template is also compatible with Google Sheets.

What if I’m starting late and have no records from previous months?

Start now. Don’t try to reconstruct past data—that will only frustrate you and make you want to give up. Focus on recording consistently from this month forward.

Can Kamaru fully replace Excel?

For payment tracking, tenant data, and financial reports—yes. Kamaru handles all of that in an integrated way. For highly custom needs (like complex pivot tables or specialized analysis), you can export data to CSV and process it in Excel.

Conclusion

Rental property bookkeeping doesn’t have to be complicated. What matters is choosing the right format and consistently filling it in. Start with the basics:

Record every income — who paid, when, how much
Record every expense — for what, how much, which category
Create monthly summaries — calculate net profit, track key metrics
Review and evaluate — compare month over month, identify issues

If you’re just getting started, download our free Excel template and start filling it in today. If you want something more practical, try the automatic method with an app.

Ready to clean up your rental bookkeeping? Download Kamaru for free—record payments, manage tenants, and view financial reports in one app. Setup takes just 5 minutes.