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Building Basics

 

 

 Click on the button marked "Building Records" at the bottom of the main window. The Building window will appear.

  At the top is a drop-down menu to select a building address that is in your database.

  The building's information can then be viewed/entered in fields below this drop-down list.

  At the bottom is a row of buttons that are used to enter records, delete records, save the records, and view all of the building records that you have entered.

 

 

 

 

 

 

 

 

 

Adding Building Records

Enter A New Record button

 

 Click on the Enter A New Record button

 This will place you in the Address text box. You either click in the other fields or use the tab key to go between the different fields. The Address, Owner Last Name, Number of Units, and Postal Code are the required fields!

 Now we need to save the information that we've just entered. You have the option of selecting Save This Record and Close. This will save the information and then close the Building window and return to the main window. The Save This Record button will save the information and leave the Building window open so you can continue working.

 If you have multiple Buildings to enter you can click the Enter A New Record button to save the information and open another new record at the same time.

 Hint: The information entered in the Address(es) field is strictly to identify the building. In fact, if you prefer, you don't need to include the address at all of the building, just a description. However, if you entering a building that has an identical address(es) (or description) as one already in the system, it will help to distinguish between the two if you append other information to the description. (ie. 402 Main Street Cleveland, 402 Main Street Columbus.)

 

 

Editing Building Records

Add/Edit Building Records

 At top of the Building window you will see a box labeled "Find an Building".

 Use the arrow to open a drop down screen and choose the Building address that you want to edit. The related information will be filled into the fields. You can then use the tab key or click in the field(s) that need to be edited.

 After all the information has been edited, press on either Save This Record and Close or Save This Record if you would like to continue work in this window.

 

 

 

 

 

 

 

Deleting Building Records

 

 

Warning: Once A Record Is Deleted It Can Not Be Undeleted!!!!

 

 Note: Before deleting a building, all the tenants and their payments must be deleted first. And once they're deleted, they cannot be undeleted! If you need this information for year end taxes, make sure that you have it backed up elsewhere! You may want to keep the old records and marking them as old. One method is to add a "zzz" before the Address(es) field so RentTracker can group the obsolete buildings together. (Use a similar method for any obsolete Tenants in the obsolete buildings.)

Find the Building

 Click on Add/Edit Building Records. At top of the Building window you will see a box labeled "Find an Building ". Use the arrow to open a drop down screen and choose the Building address that you want to delete. The related information will be filled into the fields.

Deleting the Building

 

 Check to see that you have the right Building. Click on Delete This Record. Press Yes at the delete confirmation.

 

 

 

 

 

Viewing All Building Records

Displaying Building Records

 Click on Add/Edit Building Records. After the Building window opens, select View All Records from the bottom of the window. All the Building and their information will be displayed in column format.

 

Editing Building Records

 You cannot make any changes to the data displayed. To edit these fields see the Add/Edit Buildings section. You may reorder the records relative to the heading by clicking on a column heading.

 Hint: If recent changes to the Building records are not displayed, click on the Refresh button at the top left of the window. Click Close button to close this list.

 

 

 

Depreciation Calculation

 

Enter the Total Building

Cost

 In order to correctly calculate the depreciation, you must first enter the total building cost. This includes any costs incurred during rehab prior to occupancy.

 Then use the drop down menus to select the Month and Year that the building was purchased.

 The depreciation of the building is automatically calculated for this building and added to the expense report. This value is calculated over the time period selected for the report.

 Hint: If an expense report is blank, it is because there were no expenses (not including depreciation) for this building during this time period. You must have at least one expense during the report period.

 The depreciation value is for reference only. RentTracker is not responsible for any discrepancies that may occur. The calculation for determining depreciation may change over a period of time as federal tax laws change. The user should always verify the depreciation value according to current laws before committing this value for tax purposes!

 Note: For tax purposes, the only valid depreciation value is calculated from Jan 1 to Dec 31 of a given year. The calculation uses the straight-line, mid-month depreciation method with a recovery period of 27.5 years. This is solely applicable for residential rental property according to the 2000 Standard Federal Tax Report.