FAQ: How to Model the Sale of a Rental Property?

To model the rental property sale your best option is to go into Profile and click “Selling a Home”. This will turn on a Foundation section where you can enter the sale date for the rental property and the cost of sale (which will be deducted against any capital gain).

Rental income and expenses will automatically end at the time of sale.

Paying off a Mortgage at Time of Sale

If you have a mortgage that you want paid off at the time of sale, make sure that this debt is linked to the property.

This is done in the in the Discovery > Debt Section. Use the 'Link to Asset' field and select the property you would like to link the debt to. When the asset is sold, it will now use any available funds from the sale to pay off the debt.