Manage expenses associated with your property

Property Expense Management

If you own a house, or even better, have a real estate portfolio, you know that owning properties is not a one-time expense. In addition to the mortgage, taxes, and insurance, you need to keep investing in your property to keep it both functional and presentable. In between the major updates, there are likely to be frequent maintenance and repair needs. Maintaining your property becomes all the more important, as well as difficult when it’s rented. To be in the best of its form, repairs are inevitable to both a residential house and a commercial property. Tracking your expenses on the property helps to manage your overall finances – After all, they are tax-deductible. You will know how much you have already spent, how much of the budget is available to you, and how you can manage your remaining expenses from those available finances. When you are in control of your money and expenses, life is better.

Categorize expenses

Property expenses can be broadly categorized into two – one-time expenses, and recurring expenses.

One-time expenses

Every property has many one-time expenses such as repairs, electrical, moving, plumbing, painting, renovation, material procurement, etc.

Recurring expenses

Many expenses repeat monthly, quarterly, semi-annually, annually, or over any set time. Gardening, cleaning services, pool maintenance, utility bills, etc., are some recurring expenses that homeowners deal with often.

Save receipts and invoices

While recording and tracking your expenses, keep evidence of both one-time and recurring-expenses as well, like invoices, warranty cards, etc. This helps in case of any problems with the new parts or equipment purchased, and the services availed.

Taxes made easy

It is easy to forget some expenses during tax time. Why pay more taxes than warranted? Track expenses and categorize them for each one of your properties. When it is time to file income taxes, easily grab the list from HomeKasa!

Construction and renovation expenses

Whether you are constructing a brand-new home or renovating a kitchen, bathroom, or just a portion of your home, renovation expenses can quickly add up. Stay on top of where your hard-earned dollars are being spent on. Track the amount spent on each expense, easily attach receipts for material purchase, and invoices from your vendors.

New property purchase expenses

Buying a new property adds several overhead expenses over the property purchase price. Examples of some costs are lender fees, inspection fees, government fees, agent fees, appraisal costs, attorney fees, etc. Make sure you capture all these expenses related to your property to get an actual amount on your overall property purchase.

Property selling expenses

Similar to buying a property, selling a property has several overhead expenses. Examples of some expenses are advertisement costs, agent fees, staging costs, open house costs, appraisal costs, etc. Having an idea of all your expenses over the entire property lifecycle and the selling expenses gives you an exact idea of what your return on investment is for that specific property. You can easily analyze if you are making a profitable sale.

Property maintenance expenses

How much do you spend on home maintenance in a month/year/lifetime? Home expenses could be small or large, one-time, or recurring. Do you follow the 1% rule, $1 per Square Ft Rule, or 10% Rule? Track all your home maintenance expenses on HomeKasa. Know exactly what you spend on your home over time.

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Trusted by

persona

I love being a multi-property owner, however, managing the constant flow of issues from tenants is the most frustrating part. HomeKasa makes this easy and brings order to my otherwise hectic life.

Courtney Kehl

Advisor & President

Expert Marketing Advisors

persona

Real estate is a great way to grow wealth. But managing many properties can quickly consume your time. HomeKasa simplifies this with one dashboard, saving time.

Spencer Zhu

Real estate investor

persona

HomeKasa makes it easy to communicate with landlords and request repairs.

Sri Reddy

Renter

persona

I can stay on top of things for both renters and property owners. HomeKasa allows me to quickly generate reports without going to an accountant.

Heidi White

Property manager