Real Estate P&L Template

Once your categories are set, enter your revenue and expense figures for the current month. For commissions, pull your HUD-1 settlement statements or brokerage commission disbursements. For expenses, your bank statements or accounting software will have what you need. The Commission Tracker sheet is worth maintaining in parallel: log each closed deal with its sale price and commission rate, and the sheet will cross-reference with your monthly totals to make sure everything reconciles.

A proper real estate P&L separates commission income from recurring income — two streams that behave completely differently. Commission income is lumpy and seasonal, peaking March through August and slowing sharply in December and January. Property management fees are predictable monthly recurring revenue that offset the seasonal swings. When your P&L shows these separately, you can see what percentage of your income is stable and what percentage is transaction-dependent — and whether you need more managed units, more listings, or better deal flow to hit your annual income targets. Net margins for real estate professionals typically range from 15–35%, but that number is meaningless without knowing what's driving it.