New Feature - Mortgage Tracking

Posted on September 8, 2013

A new feature has been added to help track mortgages.

This feature is optional, and when you run RentHQ for the first time, it will ask you if you want to enable this feature or not.  Property managers would probably say no, while property investors would probably say yes.

If enabled, a new Mortgages menu option appears under the Properties tab.  This is where you record the basic details of the mortgage like start date and value, bank account number etc.

Also in the Expense Group details page, you can specify if a particular expense group is used to record the paying back of mortgage interest or principal.

Then when entering transactions, if you specify one of the mortgage related expense groups, you will get the option to enter which mortgage the payment relates to.  This applies to transactions created via the cashbook or imported from your bank statement or created via automatic transactions.  If you import statements, you can also attach the mortgage to one of your import rules.