Triplex rental income and expense spreadsheet: three units, shared water
A triplex can have three leases ending in different months, and in this one a single water meter serves all three units. Here Unit C paid only part of its rent, so the page shows a split bill and a short payment side by side.
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General information only, not tax, legal or accounting advice. Late-fee, deposit and notice rules vary by state, city and lease; check your own. Names and numbers in the example are invented.
What changes for this kind of rental
Units & Leases holds one row per unit, each with its own lease start and end. When the three leases end in different months, the Lease flag column reads ok for a unit until its lease is inside the 60 or 90 day window against the as-of date, so the three renewals surface at different times. The Rent Ledger takes one row per unit per month, three rows a month when all are occupied.
The shared water meter and the pest control visit are each logged once with Split by units on Yes, and the Expenses tab divides them equally by the three units listed. Equal thirds fit a triplex of similar units; the workbook has no way to divide by apartment size or bedroom count. The paint touch-up and roof inspection belong to the building and are not split.
A worked month: Ashton Garden Apartments
Invented names and numbers, to show the shape. 3 units on the Units & Leases tab, all with the Property cell set to Ashton Garden Apartments.
| Unit | Tenant | Monthly rent |
|---|---|---|
| A | Marcus Lopez | $1,650 |
| B | Hannah Rizzo | $1,650 |
| C | David Chen | $1,650 |
Occupied units schedule $4,950 a month.
One Rent Ledger row per occupied unit for the month:
| Unit | Tenant | Rent due | Amount paid | Balance |
|---|---|---|---|---|
| A | Marcus Lopez | $1,650 | $1,650 | $0 |
| B | Hannah Rizzo | $1,650 | $1,650 | $0 |
| C | David Chen | $1,650 | $1,555 | $95 |
| Total | $4,950 | $4,855 | $95 |
The month shows $4,855 collected of $4,950 scheduled, with $95 still owed.
Bills for the month, one Expenses row each:
| Bill | Category | Amount | How it is logged |
|---|---|---|---|
| Water and sewer, shared meter | Utilities | $186 | Split by units: 3 units, $62 each |
| Exterior paint touch-up | Cleaning and maintenance | $320 | Property level, not split |
| Pest control quarterly | Cleaning and maintenance | $95 | Split by units: 3 units, $31.67 each |
| Roof inspection | Repairs | $200 | Property level, not split |
| Total | $801 |
The split bills total $281. The Expenses tab divides each equally by the number of units listed for the property (3), so each unit carries $93.67 of them.
Where each piece goes in the workbook
- Units & Leases: Add three rows for units A, B and C with the same Property name. Give each its own lease start and end date, since they need not match. Type the monthly rent and due day, and set Status to Occupied on all three.
- Rent Ledger: Add one row per unit for the month. Units A and B paid in full. Unit C paid part, so type what arrived in Amount paid and leave the rent alone: Status reads Partial and Balance shows what Unit C still owes.
- Expenses: Log the water bill and the pest control with Split by units set to Yes, so each divides by three. The paint touch-up and the roof inspection serve the whole building: leave Unit empty and Split by units on No.
- P&L: Compare Scheduled rent with Rent collected for the month; Not yet collected holds Unit C's shortfall. Then read net operating income by unit and by property to see each unit next to the building total.
Two formulas worth a cell of their own
- Units in a property, the number behind every split:
=COUNTIF('Units & Leases'!$B$6:$B$15,"Ashton Garden Apartments")returns 3 here. - Rent paid by one unit across the ledger:
=SUMIFS('Rent Ledger'!$G$6:$G$505,'Rent Ledger'!$A$6:$A$505,"A")returns $1,650 on this example.
Four tracking tips
- Type all three lease end dates. A unit with an empty Lease end shows a blank Lease flag, which is easy to mistake for a lease that is not due soon. The flag only means something once the date is in.
- If Unit C's row runs past the grace days, the Late fee column shows a charge once for that row. It is shown as charged, not assumed collected, and it is not added to Rent due, so Balance stays the unpaid rent only.
- The paint touch-up and roof inspection have no unit and no split, so they land in no single unit's net operating income. The P&L puts them on a line called Costs not assigned to a unit, and the unit rows plus that line add up to the total net operating income.
- Pest control comes quarterly: enter it as one Expenses row dated the day you pay it, not as three monthly slices. The Per-unit share column on that row shows each unit's third.
Questions
Where do I see what each unit nets on the P&L?
The P&L tab has a net operating income by unit section and a by property section. Net operating income is built from Rent collected, so Unit C counts only what it paid, and the Not yet collected row shows the rest separately.
What do I log when a unit needs work between tenants?
Add an Expenses row with that unit in Unit and Split by units on No. Set the Repair/Improvement flag as you judge it; Improvement rows are shown separately as a capital cost. Then add a vacancy log row on Units & Leases and change Status to Vacant yourself.
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Already built
The Landlord Rent & Expense Tracker has the rent roll, rent ledger, expenses, deposits and P&L tabs wired together, with example data on every tab. One Excel file, $29.