Not only is it good practice to provide renters with a rent receipt that shows what they have paid for rent, but landlords in many states are required to do so. Learn what information is usually found on a rent receipt form and where you can get a simple, customizable rent receipt template for your rental properties. What Is a Rent Payment Receipt?
A rent receipt shows the amount renters paid for rent, the date on which the rent was paid, and whether the payment constitutes the full amount of rent due.
The form gives your tenant proof that he or she paid the full amount of rent due on time. This information can help renters complete their taxes or provide proof of rental payments to a third party.
Rent receipt forms also help landlords. If renters tend to pay the rent late, the form serves as written proof the rent was not paid on time. This is important if you assess a late fee, or if you accept rent through multiple channels. For instance, if you accept electronic bank transfers and the bank transfer comes outside of your grace period, the rent receipt proves the rent was not received on time. A renter is less likely to contest late fees when you have proof of non-timely payment.
Rent receipts also protect you when renters do not pay the full rent. In the worst-case scenario where you are evicting a renter, it helps your case when you can show a stack of rent receipts indicating the discrepancy between what was paid and what was owed by the renter.
Rent receipts help landlords who own multiple properties keep track of which renters have outstanding rent, sum up your total rent received for taxes, and stay organized.
A printable rent receipt is simple to customize with the amount of rent, property address and renter name, helping you complete the form quickly. Get a Customizable Rent Receipt Template
Whether you are required by your state to deliver a rent receipt or want to use one so you can stay organized, you can get a customizable form when you join American Apartment Owners Association.
Rather than create your own form and risk omitting something important, grab one of AAOA’s rent receipt forms, fill in the relevant details, and send the form to your tenant. It couldn’t be quicker or easier to do so.
Become an American Apartment Owners Association member today to get the lowest price on a printable rent receipt and all other forms, receive landlord education and tips, and get discounts you can use on your rental properties.