Tenants may keep copies of rent receipts to show a new landlord that their rent was continuously paid on time. Rent receipts can be used as legal proof that rent was paid for disputes, evictions, tax purposes, or simple recordkeeping. It would allow you to collect any late fees or penalties if present in the lease agreement. This is beneficial especially if you’ve recently increased your rent and tenants have not paid the updated amount. Providing rental receipts can benefit landlords by time-stamping all payments received, thereby documenting any late or partial payments if they occur. This will help you avoid a lengthy eviction process because of poor recordkeeping. It also is a way for you to stay organized and track all payments so your records are up to date. It not only represents your business acumen, but the easier the payment process is, the more likely you’ll get your rent on time. Why Receipts for Payment Are ImportantĪs a landlord, your rent collection process needs to be as seamless and efficient as possible. Read along to learn more about what to include in rental receipt templates, when and how to send them, as well as software providers who can assist with rental receipt automation. Receipts not only help with recordkeeping, but they leave no room for error if a dispute arises between a landlord and tenant.
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