A simple system for tracking contractor commitments, scope changes, pending costs, and payments when a flip uses multiple trades.
Create one property-level budget
Keep the rehab budget at the property level so every trade rolls into the same financial picture.
Assign every commitment, change, and payment
Use a consistent contractor or vendor name on each financial item. That lets you see who is committed, who has been paid, and where pending exposure sits.
Keep scope increases separate from original commitments
An original electrical commitment is not the same as a later electrical change. Tracking them separately shows which trades are driving budget drift.
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.
Track contractor payments against the current rehab cost and see the remaining cash obligation as the project changes.
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