How to Add, Edit, or Delete a Unit in Quicken Rental Property Manager



Add a Unit

In Quicken, you can add units to a single unit property or a multiunit property. If you add units to a single unit property, you will switch from single unit to multiunit property.

What is a unit?

You divide your property into units. A unit can be a floor, an apartment, or even a room. For example, in an apartment, you can consider each room as a separate unit. Or, in a duplex property, you can consider each floor as a separate unit.

  1. Click the Rental Property tab.
  2. Click the Properties button and choose Show Property List.
  3. Select the rental property in which you want to add a unit.
    • Why can't I see my rental property in this list? If you selected the Hide property check box in the Edit Rental Property dialog, Quicken does not display rental properties in the Property List. Select the Show hidden properties check box to view all hidden properties.
  4. Click Edit.
  5. Under Property Type Information, click Multiunit property if you're switching from single unit to multiunit property. (Optional)
  6. In the Unit List view, enter a unit name or a unit number for each unit you want to add.
    • Enter a name or number for each unit. For example, Unit 1, Unit 2 could be two units in a property. Or numbers such as #1, #2.
  7. Click Add more units to add more units. (Optional)
  8. Click OK.

Notes:

  • To add a property or unit, you can also click Properties & Tenants, and then click Add property.
  • A multiunit property should have at least one unit.

Edit a Unit

You can change the name of a unit in a rental property. If you are no longer tracking a unit of a rental property, you can hide the unit in the Property List, the Profit/Loss view in Rental Property tab, the Mileage Tracker, and the Tax Schedule and Schedule E reports.

  1. Click the Rental Property tab.
  2. Click the Properties button and choose Show Property List.
  3. Select the property that has the unit you want to edit.
    • Why can't I see my rental property in this list? If you selected the Hide property check box in the Edit Rental Property dialog, Quicken does not display rental properties in the Property List. Select the Show hidden properties check box to view all hidden properties.
  4. Click Edit.
  5. Modify the unit name if necessary.
  6. Select the Hide check box if you want to hide the unit.
    • Why should I hide a unit? Hide your rental property unit to protect your historical data. Don't delete a unit just because you don’t want to track the real-world rental property anymore. Instead, you can choose to hide that unit.

      Quicken hides the name of the rental property unit in the Rent Center, the Profit/Loss page, Property List, the Mileage Tracker, and the Tax Schedule, and Schedule E reports. However, Quicken retains all historical rental property transactions along with their original rental property tags.
  7. Click Add more units if you want to add units to the property.
  8. Click OK.

Notes

To edit a property or unit, you can also click Properties on the Rent Center page, choose Show property list, and click Edit.

Delete a Unit

You can delete a unit from a multiunit property only if there are no income or expense transactions associated with the unit. Moreover, a multiunit property must have at least one units. You can delete the remaining units as long as there are no transactions associated with the units.

If you no longer want to track a unit that has associated transactions, don’t delete it. You’ll lose all historical data. Instead, you can choose to hide the unit in Property List, the Profit/Loss view in Rental Property tab, the Mileage Tracker, and the Tax Schedule and Schedule E reports. Quicken retains all of the historical rental property transactions with their original rental property tags.

  1. Click the Rental Property tab.
  2. Click the Properties button and choose Show Property List.
  3. Select the rental property that has the unit you want to delete.
    • Why can't I see my rental property in this list? If you selected the Hide property check box in the Edit Rental Property dialog, Quicken does not display rental properties in the Property List. Select the Show hidden properties check box to view all hidden properties.
  4. Click Edit.
  5. Select the Hide unit check box if you want to hide the unit in the Property List, the Profit/Loss view in Rental Property tab, the Mileage Tracker, and the Tax Schedule and Schedule E reports.
  6. Click Delete next to the unit if you want to delete the unit.
    • Can I switch from multiunit property to single unit property?
      • You can switch from multiunit property to single unit property only if you delete all its units.
      • You can delete a unit only if there are no transactions and no tenants associated with the unit.
      • To delete a unit with transactions, you must either delete all transactions or associate all transactions of the unit to its property. By deleting transactions, you lose historical data. So, we recommend that you associate all transactions of the unit to its property, and then delete the unit.
  7. Click OK.

Notes

You can delete a unit only if there are no transactions and no tenants associated with the unit.

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