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How do you set up for vacation rentals where the rent amount varies each month?

UnknownUnknown Member
edited September 2018 in Business and Rental Property Tools (Windows)
Dealing with Vacation Rentals

Comments

  • smayer97smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited August 2018
    Depends on your goal...budgeting, cash flow projections, or something else?
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  • UKRUKR SuperUser ✭✭✭✭✭
    edited September 2018

    I don't think, the designers of the Quicken RPM feature had vacation rentals or hotel room reservations by the day, week or month in mind when they wrote the code for "RPM 101" many years ago.

    My 2cents' worth: A different software package might be better suited for your purpose, but please don't ask me which one.

    I let the local RPM experts answer your specific question. There might be a workaround, but it probably will be awkward.

  • UnknownUnknown Member
    edited January 2018
    I'm a new user and I'm just setting it up for income and expenses....very basic stuff.  We have 2 units that are vacation rentals and so no set amount of rental income.  
  • UnknownUnknown Member
    edited January 2018
    I enter each renter individually as a "tenant" and then under "Terms and Agreement" I choose "Other" and enter the dates they will stay.  It isn't ideal, but gets the job done to manage my renters.  What it doesn't do well is report all the dates you are booked at each property, or report total rental nights.
  • Michael JonesMichael Jones Member, Windows Beta Beta
    edited February 2018
    Diane, I wouldn't worry then about using the 'rent' feature of Quicken.  Just put them in manually in your register using whatever income account you are tracking it in. You will still get all the same benefits of rental property as far as reporting, etc.  You can still set up the property, use it to track copies of paperwork, etc. as well.  Another option would be to use the business side and set up a 'fake' business for the purposes of using the invoicing feature and create and receive payments against invoices for each 'tenant'.  

    You should be able to override where the 'income' goes from the invoice payment to whatever category you want (though I haven't tried this myself).  
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