What is EasyRentalTools?
Rental property management made easy! As a rental property owner there are a few things that need to be done regardless of whether you manage your properties yourself or have someone else do it for you. EasyRentalTools is all about simplifying these tasks to help you manage your properties quickly and easily! Below are EasyRentalTools three primary functions.
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Taxes - If you own rental property in the U.S. then you've likely worked with IRS Form 1040 Schedule E. This is the form that, for most small property owners, lists all the pertinent tax related information for your rental property. EasyRentalTools is designed specifically to simplify the creation of this annual form. All of EasyRentalTools' expense and income categories are directly from IRS Schedule E so that as you enter your income and expenses each month you're actually building your own Schedule E as you go! This one aspect alone makes EasyRentalTools a lifesaver!
Cashflow - Positive or negative cashflow is, of course, the amount of money left over from your monthly rental income after subtracting all of your expenses for that property - things like mortgage payments, management fees, property taxes, and so on. EasyRentalTools has built-in reports that allow you to see how your properties are performing from a cashflow standpoint on a monthly or annual basis. This feature is different from your Schedule E reports in that it is entirely a "Money In" vs. "Money Out" type of report. Think of it as an easy "thumbnail" sketch of how your properties are doing.
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Checkbook Reconciliation - Don't let this one fool you. No one likes the painstaking task of reconciling their checkbooks every month. Since most individual properties really don't have that many monthly transactions and many people don't use separate checking accounts for their properties EasyRentalTools is designed around a simple register that lets you manually run your expenses against your various checking account and credit card statements at the end of the month. Think of it more as a simple "checklist" rather than any sort of involved (and mostly unnecessarily complex) accounting software function.
EasyRentalTools takes these three areas of rental property ownership and combines them into one simple, easy to use, place to track all of your property income and expenses. Whether you own one rental property or fifty you'll enjoy the simplicity and power of EasyRentalTools.com! -back to tutorial index-
