Free spreadsheet
Free CapEx spreadsheet to plan your rental's big replacements
By Rentlab Team.
Know what to set aside each month before the furnace fails. List your property's big items, then type in what each will cost to replace and how many years it has left. The planner gives you one monthly amount to move to savings.
A free .xlsx file. It opens in Excel, Google Sheets and Apple Numbers. No email needed.
What the planner does
One row for each big item, with room for 20. You fill in the item, its replacement cost and its years left. The planner works out the months left, the monthly amount and the total. It starts with these rows, marked as examples. These are example numbers only, so use your own quotes.
| Big item | Replacement cost | Years left | Months left | Monthly amount |
|---|---|---|---|---|
| Example: Roof | $12,000 | 10 | 120 | $100 |
| Example: Furnace | $6,000 | 5 | 60 | $100 |
| Example: Water heater | $1,800 | 3 | 36 | $50 |
| Total to set aside each month | $250 | |||
How to fill in your CapEx spreadsheet
- Walk the property and list every big item. Type over the example rows as you go.
- Get a replacement estimate for each. A contractor quote is a good start.
- Estimate the years each item has left, going by its age and condition.
- Read the total and move that amount to a separate savings account every month.
Review this list once a year and update each item's cost and years left.
New to the idea? Read What is CapEx in real estate? for how it differs from maintenance and a cash reserve. When a big replacement arrives, record it in the free rental property expense spreadsheet.
Common questions
How does the planner work out the monthly amount?
It multiplies each item's years left by 12 to get the months left, then divides the replacement cost by those months. A $12,000 roof with 10 years left is 120 months, so $100 a month. The total at the bottom adds every item.
Why not use a percentage of rent?
Rent tells you nothing about how old your roof is. There is no percentage-of-rent shortcut that works for every property, so the planner uses your own items, your own quotes and your own estimate of the years left.
What if an item needs replacing now?
Type 0 in Years left. The planner counts it as one month, so the whole cost shows in that row and in the total.
I own more than one rental. Do I need one file for each?
Keep one planner per property, so each roof and furnace stays with its own building. Save a copy of the file for each one, or duplicate the tab.
Does it work in Google Sheets?
Yes. In Google Sheets choose File, Import, Upload, or upload the file to Google Drive and open it with Google Sheets. It also opens in Excel and Apple Numbers.