Several states require landlords to provide a receipt upon request, so check your local laws. Rent receipts may be required by the city or state The same applies to payments made by money order, which more landlords are willing to accept. If you ever get audited, you’ll need a way to document your rental deposits. But if you do, a rent receipt shows proof of payment for funds that otherwise can’t be tracked. You may not accept cash, and that’s fine, just include the provision in your rental agreement. Rent receipts create a paper trail for cash payments Here are some reasons why you should always issue a rent receipt : 1. Rent receipts also provide the tenant with proof of payment, so they can keep track of their finances. Why should you use a rent receipt ?Ī rent receipt should be used by the landlord or property manager to streamline the way payments are tracked as they come in. For any non-monthly payments, you’ll use a different format of rental receipt, such as a security deposit receipt. If you charge pet rent or other monthly fees, those can be included on your rent receipt, as long as they’re all paid at the same time. When a lease agreement is signed and pet or security deposits are paid, a receipt should be issued. Should you give a receipt to tenants for security deposits or pet rent?Īs a landlord, you should document proof of all tenant payments. Both the landlord and the tenant keep a rent receipt copy for their records.The landlord writes and signs the receipt.Here are the steps for issuing monthly or one-time tenant payment receipts: Ī rent receipt is most commonly used for:

A monthly rent receipt should be sent out after a tenant pays their rent invoice.

What is a rent receipt ?Ī rent receipt is a document that proves a landlord or property manager received a tenant’s rent payment. You can create a rent receipt template yourself or download our free template. Half (50%) of renters deliver their rent in person* - so having a written record of each payment will help you and your tenant keep track of your finances. A rent payment is the same as any other financial or retail transaction, and providing receipts is a good business practice. If your tenants pay their rent by sending a check through the mail or delivering it directly to you, they may ask for a rent receipt.

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