Can iBank track rental property? If so can it also do my own home simultaneously? And can it export to Excel/PDF if I don't want an accounting export
I would like to manage incoming rents by setting what amount I expect to receive, what amount gets paid (and when). I would also like to be able to put in flags that remind me if a rent is late or unpaid, automatically add in late fees to the expected amount of payment, and even remind me to send out rental increase notices. I'd like reminders for paying property taxes, and various other bills. It would also be great to track any building maintenance costs, etc. Does iBank do all this? I'm happy to put in work to set up some of this stuff. I just want to make sure I am not trying to make it do something it wasn't designed for. Currently I am doing that with Excel/Numbers and it is painful!!!!
Additionally I would like to be able to do this for my personal home, but with the option of looking at my house as both a separate entity OR seeing the overall income/expense of both worlds. Can it do all this?
Finally, I would like to be able to export to PDF or Excel or similar. Can it do that?
- Asked by Joshua C from Los Angeles
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1 Answer from the Community
While iBank isn't designed as a financial application specifically for property management, it will work well for tracking income and expenses (or other types of transactions and accounts) for many types of small businesses.
So for instance: I also use iBank to keep track of the accounting on a rental property. I can track rental payments, bank charges, taxes, mortgage costs, insurance, maintenance and other charges; I can schedule payments or income (and integrate those anticipated transactions with iCal), and I can review this information in a custom account, or simply set it all up in an iBank document that's separate from my real-world accounts like checking or credit cards.
In your case, setting up a separate iBank document for real estate might be a good solution. You could create a custom account for income properties and another for your personal home, and look at them together or separately, as you need.
As for exporting data, you can create detailed reports for any of these accounts, looking at any given date range, then save those reports as PDFs, or drag-and-drop tables from the reports right onto a spreadsheet such as Numbers or Excel.
- Answered by Scott B from Putney