Track the starting rehab budget, contractor commitments, approved changes, pending costs, payments, and projected final rehab cost for a flip.
Do not overwrite the starting budget
The original rehab budget is the baseline for measuring drift. Preserve it, then show approved changes separately so you can see how far the project has moved.
Separate commitments from changes
A contractor commitment can be an allocation inside the rehab budget. A later scope increase is different: it moves the projected rehab cost. Keeping those concepts separate prevents double counting.
Reconcile payments continuously
Assign payments to the contractor or vendor who received them and compare paid-to-date with current commitments and the projected project cost.
Frequently asked questions
What should I track on a house flip rehab?
Keep the starting rehab budget, contractor commitments, approved cost changes, pending scope, payments by contractor or vendor, and contingency. Together those numbers show the current projected rehab cost and where the cash is going.
Should contractor commitments increase the rehab total?
Not automatically. A contractor commitment can be an allocation inside the starting rehab budget. Later approved scope increases are what move the projected rehab cost above that baseline.
How should I track multiple contractors?
Use a consistent contractor or vendor name on commitments, cost changes, and payments. That gives you a property-level total and a contractor-level view without separate spreadsheets.
Is RenoTally construction-management software?
No. RenoTally stays focused on the money side of the rehab: budget, contractor commitments, cost changes, payments, contingency, and projected final cost.
Compare a starting rehab budget with approved cost changes, pending scope, contractor payments, and contingency.
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