FAQ: How Do I Model a Rental Property I Personally Use?

If you’re using the rental property personally then you’ll need to capture that portion of the expenses in your personal spending. If that portion of the cost remains in rental expenses the platform will deduct it (which isn’t accurate).

In Rental Expenses only include the portion that is deductible against the Rental Income.

In Personal Expenses add the personal portion of rental expenses in a separate category like Miscellaneous spending (or if you have another category empty, like condo fees, use that).

When you want to sell the rental property at a specific date you can reduce the expenses in two ways. One way is to add a Discovery > Expenses snapshot starting the year/age the rental is sold and remove the expenses from that period and onward. The second way is to override the expenses in Planning > Projections > Table. The downside is that it’s easy to lose track of these overrides, so option one is better.