How do I convert a previous primary residence to a rental property in Quicken Windows?

V-Money
V-Money Quicken Windows Subscription Member
edited March 2022 in Business and Rental Property Tools (Windows)
I built a new house and have moved, I'm tracking both properties in Quicken. I have a management company handling the day-to-day business of renting my other property but I would also like to track financials in Quicken Home & Business. Are there instructions on converting a property from a residence to a rental?
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Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Since the management company is tracking thing like tenants, contracts, etc ... and you're only interested in the financials, I don't see why you need HBR at all for this.
    The current mortgage (presumed) on the rental stays in place, and you can use categories that you set up (with proper tax attributes) to track any other income and expenses.
    Just switch the tax line associated with this property from personal home mortgage interest to Schedule E mortgage interest.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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