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FAQ: Add Tenants to Rental Properties

Quicken Sarah
Quicken Sarah Administrator, Moderator mod
edited May 2019 in FAQ'S (Windows)

Adding Tenants to Rental Properties in Quicken for Windows Home, Business & Rental

 Once the Rental Property related accounts and properties have been added to Quicken, we are ready to begin adding Tenant information to the properties.  New or future tenants can be entered in Quicken at any time.

If you have not already added rental accounts and/or properties for tracking, please visit this article

When adding Tenants, Quicken requires basic information about the Tenant to be entered, but includes additional areas to record tenant information such as, Contact Details, Lease Terms and Agreement, Security Deposit and a section to upload and house any Documents specific to the Tenant or property.


Adding Tenants

To add a Tenant to Quicken, first go to the Rental Property tab and select “Properties & Tenants”, then “Add Tenant”

 Enter the Tenant information, required fields are marked with a red asterisk (*).  If desired add any Contact information for the tenant, the Rental Terms and Agreement, Security Deposit details and/or upload documentation pertaining to the Tenant and Property.

 

 

 

 Multiple Tenants

If renting to multiple tenants, enter a tenant in Quicken for each person on the rental agreement, selecting the same property for each tenant.  

 The rent amount should be allocated between the tenants as it will be received. 

    a.  Split equally between the tenants if receiving multiple payments
    b.  If receiving a single payment, the full amount should be allocated to the primary tenant, entering $0.00 in the Rent Amount field for the secondary tenant.

For example, if the monthly rent is $1,000;  Tenant A would be entered with $500.00 in the Rent Amount field, Tenant B would be entered with $500.00 to equal the total amount ($1,000.00) due. 

If receiving a single payment, Tenant A would be entered with $1,000.00 in the Rent Amount field and Tenant B $0.00.


 HUD/Section 8 Tenants

When adding HUD/Section 8 Tenants, two tenants are created in Quicken.  One for the actual tenant and the second for the government entity; with the rent amount each party is responsible for entered in the Rent Amount field.





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