Add rent details, contact information, and financial information for your tenant. Fields marked with a red asterisk (*) are mandatory.
- Click the Rental Property tab.
- Click the Properties & Tenants button and choose Add Tenant.
- In the Rent Details tab, fill in the requested information.
- In the Contact tab, fill in the contact information for the tenant. (Optional)
- Tell me more about entering information here
Additional Occupants: In the Notes field, enter names of people who stay with the tenant, but don't pay you rent. For example, spouse, children, or parents.
- In the Terms & Agreement tab, fill in the terms and agreement information. (Optional)
- Tell me more about the dates I see here
- Lease start date
- Is the date when the lease begins
- Can't be later than the move-in date, move-out date, or lease end date
- The tenant may move-in once the lease starts, and stay till the lease ends
- Lease end date
- Is the date when the lease ends
- Can't be before the lease start date, move-in date, or move-out date
- Not required if the Lease term is Month to month
- If the Lease term is Six month or One year, Quicken calculates the lease end date from the lease start date
- The tenant can stay in the property until the lease end date
- Move-in date
- Is the date the tenant actually moves in to the property
- Can be after the lease start date if the tenant moves in after the lease starts
- Must be within the lease term selected
- Move-out date
- Is the date the tenant actually moves out of the property
- Can be before the lease end date
- Must be within the lease term selected
- Quicken stops the rent collection reminders on the move-out date
- In the Security Deposit tab, fill in the security deposit information for the tenant. (Optional)
- What happens when I enter data in the security deposit collected field?
Quicken creates a liability account named *Security Deposit Liability*, and adds the security deposit amount in the Increase column.
If you already have a *Security Deposit Liability* account, Quicken adds a new transaction in the account register.
You can see this account in the Account Bar under Rental Property.
- What happens when I enter data in the security deposit returned field?
When you enter the Security deposit returned, Quicken makes an entry in the *Security Deposit Liability* account register to clear the liability for the deposit amount.
- How should I handle security deposits that I keep?
When the security deposit returned is less than what you collected, enter separate transaction(s) to adjust the difference.
Enter the adjustment transaction(s) in any checking or savings account-do not use the*Security Deposit Liability* account for the adjustment transaction(s).
Note: The *Security Deposit Liability* account is used only to track the security deposit liability. Entering the adjustment transaction in this account shows incorrect net worth value.
- In the ‘Documents’ tab, add the documents pertaining to this tenant. You can upload any agreements you may have with this tenant or any ID proof / Address proof of this person etc for future references. To do this, click on ‘Attach’ and upload a scanned copy of this document. You can add ‘Notes’ to enter any extra information about each document.
- Click OK.
Notes
- Always add a tenant before you enter rental income for a property. If you enter rental income in the Income & Expense ledger for a payee whom you have not added as a tenant, the income does not appear on the Rent Center page.
- In Quicken, you need to add at least one property and one checking account before you can add a tenant.
Adding Section 8 tenants
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