Rent Ledger for a Duplex or Triplex: One File for Every Unit (With Example)
For a duplex, triplex or fourplex, keep one ledger file with one row per unit per month, and tag every expense as either belonging to one unit or shared by the building. Shared costs like insurance, property tax and roof repairs are split by a fair method, usually square footage. The split matters most if you live in one of the units, because only the rental share is deductible.
Why one file is better than one per unit
- You see the whole building’s rent and cash flow on one dashboard.
- Shared expenses are entered once and split automatically, not copied three times.
- Your Schedule E is one column for the building, so your totals are already in one place.
- Each unit still has its own tenant ledger you can print for that tenant.
How do you set up a ledger for several units?
- Name each unit clearly: 2215 W Maple St Unit 1, Unit 2, Unit 3.
- Enter each lease: tenant, rent, due date, deposit and lease end.
- Add the square footage of each unit if you need to split shared costs.
- Create one rent row per unit per month, including vacant months, so nothing is missed.
- Tag every expense with a unit or with Building for shared costs.
Unit expenses vs shared expenses
| Expense | Type | How to record |
|---|---|---|
| New faucet in Unit 2 | Unit | 100% to Unit 2 |
| Turnover cleaning for Unit 3 | Unit | 100% to Unit 3 |
| Building insurance | Shared | Split across units |
| Property tax | Shared | Split across units |
| Roof repair | Shared | Split across units |
| Water and trash billed to you | Shared | Split across units |
| Painting the unit you live in | Personal | Not a rental expense |
If you do not live in the building and all units are rentals, every expense is a rental expense, so the split is only for your own tracking. If you live in one unit, the split decides what you can deduct.
Example: a triplex where you live in one unit
Ana Ruiz owns a triplex at 2215 W Maple St, Sacramento, CA 95817. She lives in Unit 1 and rents Units 2 and 3. She splits shared costs by square footage, a method IRS Publication 527 accepts when you rent part of a property:
| Unit | Square feet | Use | Share |
|---|---|---|---|
| Unit 1 | 1,000 | Ana’s home | 5/14 (35.71%) |
| Unit 2 | 900 | Rented | 9/28 (32.14%) |
| Unit 3 | 900 | Rented | 9/28 (32.14%) |
| Rental share | 1,800 of 2,800 | 9/14 (64.29%) |
Her 2026 shared costs and the deductible rental share:
| Shared expense | Total paid | Rental share (9/14) |
|---|---|---|
| Insurance | $2,100.00 | $1,350.00 |
| Property tax | $4,620.00 | $2,970.00 |
| Roof repair | $1,400.00 | $900.00 |
| Total | $8,120.00 | $5,220.00 |
Costs only for Unit 2 or Unit 3, like a $180 faucet in Unit 2, are 100% rental. Costs only for Unit 1, like painting her own kitchen, are personal and not deductible on Schedule E. Mortgage interest is split the same way, and the part for her home may be deductible as personal mortgage interest instead.
How do you handle a vacant unit?
Keep the vacant unit’s rows in the ledger and mark them Vacant. You do not record rent that was never paid, but the expenses for that unit still count as long as it is available for rent. IRS Publication 527 allows ordinary expenses while a rental is vacant and held out for rent.
How does a multi unit building go on Schedule E?
A duplex, triplex or fourplex in one building is usually reported in one Schedule E column with property type 2, multi family. Enter total rent from the rented units and only the rental share of expenses. Read our line by line Schedule E guide for a filled in duplex example.
Owner occupied rentals have special rules for mortgage interest, depreciation and personal use. Ask a tax professional about your building.
Tip: once a month, sum up all your units on one page with our free rent roll template. Lenders and buyers often ask for one.
Prefer an app to a spreadsheet? Our Stessa vs TurboTenant vs Baselane comparison looks at three popular landlord apps side by side.
Frequently asked questions
Should I have a separate ledger for each unit?
Keep one file for the building with one row per unit per month. You can still filter or print a ledger for any single unit.
How do I split expenses between units?
Expenses for one unit go 100% to that unit. Shared costs are split by a reasonable method, most often square footage or the number of rooms.
If I live in one unit, can I deduct the whole roof repair?
No. Only the rental share is a rental expense. With two of three equal units rented, that would be about two thirds.
Is a duplex one property or two for taxes?
A duplex in one building is usually one property on Schedule E, reported in one column as multi family.
Can I deduct expenses for a vacant unit?
Yes, ordinary expenses for a unit that is vacant but available for rent are generally deductible. Lost rent is not.
