Landlord Expenses Spreadsheet- Calculating Your Profit & Loss

Buy-To-Let is a business, period.

Anyone that has a property on the rental market is running a business, regardless of whether they push all the day-to-day responsibilities onto a letting agent and dislocate themselves from the project.

I know many Landlords don’t see it as a business, but rather a long term investment which just ‘works’ on its own accord and runs in the background. While that maybe the case, the fact still remains that your investment required capital investment, and in the short and/or long term you expect a good return, which is essentially the whole end-game of any financial business. No one is in this game to come out at the other end poorer and uglier.

In order to measure the success rate of any profiteering business, expenses need to be tracked. It’s extremely important for landlords to measure how much they are putting into the pot and how much they’re getting in return. If the business is running at a loss, what is the point of running at all? More worryingly, what if you don’t know if you’re running at a loss?

How many landlords can tell me how much they spent on their investment in 2006? How many landlords can easily tell me how much they spent on maintenance over 5 years? I’m sure the numbers would be limited.

The extent of how deep you want to go with your analyse is dependent on how far you want to dig- the limits are endless, and you could essentially beat the numbers to death. But the average landlord that has a social life, or life in general for that matter, will have no interest in digging too deep. The basics will suffice; knowing the incoming and outgoing costs and expenses.

I try to monitor my investments to the level where I know what is coming in and what is going out. A lot of landlords don’t even track basic payments like rental income and mortgage payments. Tracking the basics should be the bread and butter work for every landlord should be doing. Despite popular belief, there’s more to being a landlord than simply collecting the rent and making mortgage payments. It’s all good collecting rent and paying the bills, but it makes no sense if you’re doing it at a loss.

When I started letting a property, I wasn’t keeping on top of things, particularly the ‘numbers’, because numbers aren’t fun or glamourous, right? But I soon learned it was becoming increasingly difficult to track my expenditures off the top of my head, I would frequently find myself in a right mess. I would get so confused that I often couldn’t even remember when or if my tenants paid their rent. It’s extremely easy to lose track of even the most basic transactions, even if there’s one or two to follow per month. As a futile, yet somewhat useful solution, I devised a very simple Excel sheet that calculated everything I wanted to know.

Landlord Expenses Spreadsheet

Here’s a snap shot of the Landlord Expenses Spreadsheet (click to see full-size):

Like I said, it’s extremely rudimentary. It won’t win any awards for innovation.

It basically holds basic information about the tenant and property (useful for those with multiple properties), and most importantly, calculates all my incoming and outgoing expenses, which ultimately allows me to to see what’s going in and out, what state my finances are in. Everything automatically updates as I enter new costs. It doesn’t cover anywhere near as much detail as a real property enthusiast/professional would love to indulge in, but it suffices for the average Joe that just wants to feel good and know the basics. If you’re looking for something a little more advanced and sophisticated, you might be better served at the landlord software section– there’s a whole range of extremely powerful solutions, most of which will even calculate your tax returns for you.


I’m going to make the spreadsheet downloadable so you can use it, or perhaps get inspiration from it. Anyone with Microsoft Excel can access the download. If anyone has any suggestions or modifications they would like to see in the spreadsheet, please let me know.

Do you measure your success? If not, it’s about time you did.









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23 Comments- Join The Conversation...

Guest Avatar
Fiona 6th November, 2007 @ 18:55

It looks really good ......
its abit scary when I see how someone is so organised because you just have to be .. I started one and then i got abit side tracked :/ maybe this will motivate my lazy arse , or not

1
The Landlord Avatar
The Landlord 6th November, 2007 @ 19:03

Thanks, Fiona.
Although i'm not really THAT organised; i'm pretty lazy also. Putting in a new entry takes about 1min, anyone can do it. It's designed for lazy people such as myself that don't want to monitor too much, but is up to date with the basics :)

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Just saying 6th November, 2007 @ 19:05

Thats pretty cool mate. i'm going to use your spreadsheet because its simple to use and im a simple person lol. many thanks

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Guest Avatar
Phil 17th May, 2009 @ 08:18

Hi,

I would like to use your spreadsheet, however the download version has an extra column but the totals do not work.
Any chance of an update please

4
The Landlord Avatar
The Landlord 17th July, 2009 @ 13:02

Hey Phil,

The file has been updated.

Cheers :)

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Guest Avatar
Pete 17th August, 2009 @ 07:57

Hi,

Just found this website as I'm doing some prep work before taking the plunge into property investment. I want to learn as much as possible before setting out.

Great spreadsheet although isn't there something missing? - the capital invested in the property and the 'opportunity cost' of having that sum tied up in the property.

For instance, you should take into account any interest that you could have earned on the deposit, shouldn't you? Or is there a reason for leaving this off?

Cheers,

Pete

6
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essence 10th August, 2010 @ 00:52

hiya, is there any possibility of making your more complicated spreadsheets visible so that I can have a look at it. ta

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Taj 16th May, 2011 @ 22:03

Thank you for sharing your spreadsheet. I can use it and it really helped!

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Andre Violette 9th June, 2011 @ 17:43

i think its great i need to sort out 5 years worth. I have noticed either its me or the formulas are wrong for the totals. Extra outgoing adds to incoming. Extra income does not get included i downloaded it twice same result. Let me know if im just not using it right pls

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Jeremy 30th December, 2011 @ 20:05

Hi Landlord,

I've developed my own spreadsheet, too. It's based around the principle of Double Entry (which is a bit OTT but it makes finding mistakes - and I make many! - really easy). The main functions I've got are:
+ Every transaction's got a ref. no so it's easy to find the supporting paperwork come tax assesment time;
+ The usual stuff about rent tracking payments, so you know what you have or have not had;
+ Cash Flow planning. You make some good points about making sure a landlord measures P&L, but cash is king. This helps to prevent overcommiting cash outwards, e.g. doing a renovation just before a tax bill is due and then going accidentally over-drawn or getting caught short for maintenance cash when a tenant is due to leave;
+ An analysis of Profit overall and Profit per Property;
+ Issue of receipts and invoices.

This level of analysis has done me fine over the years.

10
Guest Avatar
Jeremy 30th December, 2011 @ 23:48

Forgot to say: Do you fancy downloading a non-live-data version of your current spreadsheet? Being really selfish, I'd like to see if I could crib any further good ideas from yours.

Imitation is the sincerest form of flattery!

11
Guest Avatar
Zahir 25th January, 2013 @ 00:43

You're a bad boy love your site with all the helpful info I have a simple spread sheet that I use and looking at refining it would it be ok for me to forwarded to you when it is done so you can post it on line all because I love free stuff

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Guest Avatar
Zahir 25th January, 2013 @ 18:59

Hello Jeremy

Can I get to try your version of the spread sheet it seems better than mine. It would be appreciated

Kind regards

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Roy Moore 6th February, 2013 @ 15:18

The spreadsheet looks really good any chance of a copy and it wouldn't download?

Roy

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Roy Moore 13th February, 2013 @ 12:49

Copy of spread sheet please?
Download link isn't working.
Roy

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The Landlord Avatar
The Landlord 13th February, 2013 @ 15:41

Hi Roy,

I just clicked on the link, and it downloads just fine.

The document will automatically download as soon as the link is clicked. Most browser show a download status in the left hand bottom corner of the window.

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Fran 19th August, 2013 @ 10:17

Hi

Tried to download the spreadsheet but it says the rentbook is invalid or corrupted!!

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RPJ 6th September, 2013 @ 13:32

The Extra income is set to the wron column, I think cell I8 should read =SUM(H13:H1000)

just a typo and easily fixed \ spotted but I thought I would let you know.

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Denise Slater 28th September, 2013 @ 16:39

I've just downloaded it. We only have one property, but I like to keep things right. Thanks :-)

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Lou 26th November, 2014 @ 11:34

Ive got an ipad1 but it wont download help!!

Thanks
Lou.

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Hannu 4th January, 2015 @ 16:36

Im giving this a go! I tried other xl spreads and just got confused! This seems to make sense! Thank for the upload!

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NAM 16th April, 2015 @ 08:58

No download. I filled in the details to subscribe to the newsletter, received an email to confirm the subscription but no links to download. If I click the Download button above, it just keeps forcing me to enter my email address again without actually giving me anything.

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nin 8th May, 2016 @ 18:02

thanks for this.
its very simple and handy to use for tracking all incoming and outgoings for my BTL.

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