Do you know the current ROI of your rental property?
It seems like an obvious question—after all, most property owners can tell you the amount of rental income their properties bring in each month, as well as the common, recurring expenses they pay. But what about your other costs? From your monthly mortgage to repairs and renovations, HOA fees, and more, expenses add up fast, and cut into your monthly income. If you aren’t keeping track of these expenses, you could wind up losing money every month on your rental.
But calculating these expenses, especially across multiple properties, can be a challenge. Luckily, we’ve made it easy.