One to four rental units
Bookkeeping for small landlords
A few units don't need a big system, but they do need clean records: rent in, repairs out, and tenants' security deposits kept separate.
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Matthew Coleman, QuickBooks ProAdvisor, accounting and finance degree. Cranford, NJ. Start with a free health check of your books. You get a quote after we review your books, before any work starts.
The basics
Track rent per unit, expenses per property, and security deposits apart from your own money. New Jersey has specific rules for deposits, so confirm them with your attorney.
Repairs vs. improvements
Some costs are deducted right away and others are spread over time. A tax professional makes that call; we label them so the question is easy to answer.
Year-end
Keep invoices for repairs and a clear record of each tenant's payments. That makes tax time and any dispute easier.
Mortgages and loans
A mortgage payment is part principal and part interest, and only one of those is an expense. We split each payment using the lender's statement so the loan balance stays right and the interest is easy to find.
Owner money in and out
If you put your own money into a property or take a draw, it should be recorded as that, not as income or an expense. Mixing it up is the most common reason a landlord's books do not match the bank.
What a month looks like
Bank and card feeds are reconciled, each deposit is matched to a unit, each expense is assigned to a property, and you get a short report by property. The work is done online in your own QuickBooks file, by a one-office firm that uses contractors.
Related
General information, not legal or tax advice. Rules change; confirm with the agency, lender or your professional. Updated October 2026.
FAQ
Common questions
Do you handle rent collection?
No. We keep the books of rent you collect.
Can you separate each property?
Yes.
Do you give tax advice?
No. We prepare clean records for your tax professional.
Excel workbook
Landlord Rent Roll and Property Income Workbook
See what each unit owes and has paid, which leases end soon and what each property really earns after expenses.
Also in the Landlord Bundle: 3 products for $69 instead of $82 separately.