Rental properties, record keeping

I have 2 tenanted properties and 3 pending builds in the next 12 months. I have been manually recording information regarding the two current properties for tax purposes etc. Can someone recommend a computer program that will make record keeping easier when the other properties get up and running? Prefer a free program if possible.
Thanks!

 

Hi,

What kind of records do you have in mind?

If it is about the various invoices, a good folder structure to store the pdfs will do.
You pretty much just need to store your property managers statements, loan statements, rates, water bills, etc

If you are self managing then I guess there is a bit mote into it.

Comes tax return time, either you pass everything on to your accountant along with your depreciation schedule, or you consolidate everything yourself using the ATO guide.
I'd still recommend using a tax agent to read the depreciation report right.

Cheers

 

I saw this link about keeping old records.

@Dylan33

 

Hi J Mac, congratulations on the portfolio to date!

I use a cloud storage database called OneDrive (can also use googledocs, dropbox etc..)
Essentially, I set up folders for the property, and scan copies of everything in. Then I run a basic Profit and Loss statement in excel and enter in the data (rent received, interest paid, other expenses through the year etc..)

Makes life very very easy come tax time! Plus you don't have to worry about misplacing the file as long as you have access to a computer!