Rental Budget
No matter how we look at it, the relationship between a landlord and a tenant will always revolve around two things; money and property. In definition, the relationship seems simple enough — pay rent to the landlord, and you don’t get kicked out. Easy enough, right? Well, not really. You see, a lot can go wrong when it comes to money talk, like an emergency, or a natural disaster or the tenant overspent their income on fashionable clothes and forgot to budget for the rent. So, what could be the solution? As mentioned before, proper rental budgeting (i.e., making sure you reserve a portion of your income for the landlord, so he doesn’t send you packing) is helpful when you want to keep a roof over your head. Good rental budgeting templates also help landlords keep track of their tenants’ activities to see who’s really paying their dues.
Rental Budget Examples & Templates
There are multiple ways money and rent can be budgeted, and here are a few templates and examples that both tenants and landlords can utilize to keep track of the money. The beauty in these templates, however, is in the fact that they can be used generally in any budget monitoring procedure and they will still be pretty effective due to their 100% customizability, so use them in however way you see fit.
1. Rental Budget Summary
If you’re a landlord with multiple tenants, it can be a daunting task keeping track of who pays at the correct deadlines and who doesn’t — unless of course, you have a budget summary. A rental budget summary is a good document to have when you want to how much each tenant owes, deficits if they have any, and how may consecutive months has a certain tenant gone without paying rent. Make good use of this template by downloading it today.
2. Rental Budget Plan
Have three kids? All of them need to go to school? What about groceries? Other expenses? And there goes all your money, and you haven’t even paid rent yet. Every tenant goes through this phase of life… well, almost. Having a rental budget plan, or a budget plan in general of your entire income allows you not just to allocate money for rent but also helps you plan out how you can more wisely spend the green stuff. For your budgeting necessities, you can download this template for you ease and comfort.
3. Rental Budget Calendar
Providing your tenants with a rental budget calendar gives them no excuse when it’s time to pay up. This document not only contains the dates of when you plan to go around the building with the physique of a medieval tax collector gathering your stacks of green gold, but it also means that should anyone be unable to pay up without an understandable excuse, there’s no way they can blame it on you for being unreasonable since they already know when you expect rent to be paid. Download this template now and set your deadlines, so your tenants are fully aware that they need to keep their end of the agreement.
4. Rental Budget Sheet
Having a rental budget sheet can be useful to both tenants and landlords. For tenants, keeping track of how much you’ve paid in previous months, how much you’re paying right now, and any history of rent increase can help you to either cut down on costs if the rent is too high, adjust your budget to more comfortably fit your lifestyle, or see if you’re landlord is being honest with you and is keeping up their end of the rental agreement.
For the landlord, on the other hand, being able to calculate the overall expenses of your tenants, the individual rents they pay, if the resources they consume are still equivalent to the rent they pay, and if necessary, you can use this as a basis to increase rent if you need to.
You can download this now simply by clicking the “download” button, and you’ll have this 100% customizable and high-quality template available to you for any budgeting purposes you might need.
5. Rental Budget Analysis
When we talk about a rental budget analysis, a landlord can use this template to look over all the commodities he provides to his tenants and how much upkeep and maintenance they need (things such as internet connections, cable TV, and air conditioning), how this can translate to rent increase or decrease should anything happen between them, who pays on time and on the deadline, who is usually late, and who never pays, and many more. If you can afford to do so, you can print out multiple copies and distribute them to your tenants, so they are always up-to-date on their rent.
Tenants, however, can use the same template simply to look over all their expenses in the time they wish to probe, and how they can improve their expenditures.
Whether you’re a landlord or a tenant, downloading this template will surely benefit you, so do it now.
6. Sample Rental Budget Sheet
This sample rental budget sheet provides a good starting layout if you want to make your own sheet from scratch. It has a simple and easy to understand format and can be adjusted to either being weekly or monthly depending on your intended purpose.
Balancing your expenses can be a daunting task, especially nowadays with the cost of property and living gradually increasing due to new commodities, the rise of technology, and the world running out of space from the sheer amount of people alive today. However, even small and simple things like sitting down during the night and finding ways to make sure your money is spent wisely paying your dues can help improve your state of living by a considerable margin. To further help you out, download these easy to use and professionally made rental budgeting templates for your convenience and efficiency.
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