Track rental property income, expenses, and net operating income with monthly/yearly summaries and Schedule E categories.
A mortgage payment is not an operating expense, and this tool is built around that rule. You log each dollar in or out with a date and a Schedule E category, and it rolls the entries into monthly and yearly summaries, ending in net operating income: rent collected minus operating expenses, before debt service, depreciation, and income tax. The thing most users trip on is that the payment to the bank never appears in NOI, so a property can show a healthy $1,000 NOI while the owner still covers a shortfall every month.
A concrete input and expected output from the current implementation.
Input
Rent received: $1,500. Taxes: $180. Insurance: $60. Repairs: $110. Utilities: $90. Management fees: $60.
Expected output
May 2026 summary: income $1,500; expenses $500, split as taxes $180, insurance $60, repairs $110, utilities $90, management fees $60; net operating income $1,000.
Rent minus the five operating expenses is $1,000, and the mortgage is absent by design: NOI excludes debt service, so against a $1,300 payment the $1,000 NOI still leaves a $300 cash shortfall.
Each entry is an amount tied to a date and one of the Schedule E categories, from rent received to advertising, cleaning and maintenance, insurance, mortgage interest, repairs, taxes, and utilities. Income and expense entries tally separately, so a misdated December repair shifts the whole year it appears in.
The tool groups entries by month and by year, sums income and operating expenses per category, and subtracts the expense total from rental income to produce net operating income. Because NOI excludes debt service, depreciation, and capital improvements by definition, the summary describes operating performance, not cash flow and not taxable profit.
For net operating income, no. NOI deliberately ignores all debt service, so the tracker holds only the interest portion, under mortgage interest, because that is the line Schedule E asks for. Principal paydown is neither an operating expense nor a tax deduction. If you want true cash flow, subtract the full payment separately, outside the NOI view.
Most often because of depreciation: it is a large Schedule E deduction that no cash entry produces, so a cash-based tracker will not show it. Interest-versus-principal splits and which year you log a payment in can shift totals too. The tool is exact for what you enter; a mismatch usually means a missing deduction, not an arithmetic error.
The example and behavioral notes were checked against the browser implementation. Standards and primary references below define the relevant format, formula, or platform behavior.
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