How to Enter Management Fees for Rentals

A property  manager’s responsibility is to handle the day-to-day operations of a real estate property in exchange for a fee. This may occur because the property owner is unable to attend to such details, or is not interested in it. If you are a property owner using QuickBooks to manage your financials, but have a manager handling operations, you may have found yourself wondering how to enter their management fees.  One of our clients recently asked just that.

Q: How do I enter management fees for my rentals?

A: If you are a landlord using QuickBooks for your properties and you have a manager managing your properties, create an expense account for management fees. Open the Chart of Accounts list (Ctrl + A) and add a new account.

Select the Account Type and enter the account name and information as shown above. We hope this is helpful. As always, contact us or leave a comment if you have any questions.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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