You need to tell Quicken about the rental property that you own. You can add a rental property in Quicken as a single unit or multiunit property. You name the property and its units. You can also associate the rental property to a house account. If you have already added a house account, you can link the existing house account with the rental property.
Quicken uses the information about your rental property to group together your rental transactions. Quicken can display the income and expense transactions for your rental property. If you want Quicken to display the income, expenses, and tax deductions by rental property, you must add a separate rental property in Quicken for each real-world rental property.
In the first two cases, Quicken makes an entry in the house account register with the opening balance equal to the approximate value of the property.
If you want to decide later, you can click Properties on the Rent Center page, choose Show property list, and click Edit to edit the property information.