How do I add a tenant


Add rent details, contact information, and financial information for your tenant. Fields marked with a red asterisk (*) are mandatory.

  1. Click the Rental Property tab.
  2. Click the Properties & Tenants button and choose Add Tenant.
  3. In the Rent Details tab, fill in the requested information.
    • What do I select in the Account name list?
      You need to select a rent account in the Account name list. A rent account can be any checking, savings, or cash account to collect rent for the tenants.

      Create an account in Quicken if you don't have one yet. Click Add Account in the Account Bar to create a new account.
    • What is a rent account?
      A rent account can be any checking, savings, or cash account to collect rent for the tenants.
    • What if I delete a rent account?
      You can delete an account only if there is no transaction in the account register, and if you have not used the account in any scheduled transaction.

      If you delete a rent account, you will not see the account name in the Account name list. However, you can see hidden accounts in the Account name list if there is any scheduled transaction for the hidden account.
  4. In the Contact tab, fill in the contact information for the tenant. (Optional)
  5. In the Terms & Agreement tab, fill in the terms and agreement information. (Optional)
    • Tell me more about the daes 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
  6. 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.
    • 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.
  7. 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.

More Information

Adding Section 8 tenants

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