How to Handle Your Rent Receipts

Rent receipts are an important part of the relationship between landlord and tenant, and there are a few basic guidelines to follow. A rent receipt protects the tenant because it provides proof of payment. It also protects landlords, who may be required to produce these documents for tax purposes.

Information On Rent Receipts

Rent receipt forms can be bought from most stationary stores and are relatively inexpensive. However, they must always provide the date, the name and address of the tenant, the amount paid and contains both the signature of the tenant and the landlord.

Necessity of Rent Receipts

It is generally best to provide tenants with a rent receipt, even though this is not always required in some jurisdictions.  However, make sure to first receive payment from the tenant, even a long-term resident. It can prevent complications. Do not ever provide a renter with a receipt, without having received a payment amount. It is also a good idea to note the payment type, in case a check bounces.

For tenants and landlords alike, it is important to keep copies of all your completed rent receipts, and keep them together with the respective lease agreements. Start a file and keep all your receipts, letters, repair cost estimates, repairs completions and other relevant data. Once you file your returns, the information can be very helpful.

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