Rental Property Investor · Plainfield, CT · Member since 2014 · 60 posts · 43 votes
Hello. What are your thoughts on mailing a receipt every time rent is received? I have a resident complaining that I don't mail one after explaining that her cancelled check or money order stub is proof of payment. I own 37 units and never had this issue before. Thanks
Architect · Papillion, NE · Member since 2015 · 1k+ posts · 840 votes
10y
I put a clause into the lease that the cancelled check is receipt and if cash is provide a written receipt will be provided. I do make a receipt each month and put it in the file for my record. I can understand wanting a receipt as some people get paranoid. Tell her she can stop by and pick it or you will mail them quarterly.
St Thomas, Ontario · Member since 2013 · 575 posts · 408 votes
10y
@Samuel SedoreI have generally only been asked for single receipts for a given month. The last one was a tenant on ODSP (disability) who needed one to show proof of how much her shelter costs were. I think we had one a while ago where they wanted a receipt for a whole year and that is what they got. These requests have only come in once in a while, thankfully. It would be a real pain to be writing receipts on a monthly basis.
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
10y
It seems like the discussion has turned to reports rather than receipts. As most people here posted, they don't send receipts for mailed in payments or payments with check/money orders... since their receipt is their check or MO receipt. Sounds reasonable. My policy is to always give a receipt when I receive any funds in person. I think that is reasonable.
For periodic rental terms (e.g. annual) a statement (or ledger) is the appropriate form of documentation. A statement will show inflows and outflows, a balance, and description of the payments (e.g. MO receipt number, like 17-123456789). I make statements available 24/7 via online management portal and provide anytime a tenant needs (or wants) to see their history. As an aside, statements are also helpful in court if you need to take a tenant to small claims for eviction.
Specialist · Toronto, Ontario · Member since 2016 · 564 posts · 425 votes
10y
Samuel Sedore I do the same thing, one receipt for a longer rental period rather than individual ones. I do tend to break it up and do one per tax year, in case they want to use it for their Trillium benefit.
Real Estate Agent · Kitchener-Waterloo-Cambridge, Ontario · Member since 2013 · 408 posts · 90 votes
10y
Yeah it makes sense I just align the receipt with the lease, I also just supply my accountant with my lease as a way to prove my income, this is a habit I plan on breaking as I aquire more properties though, it could become cumbersome. but I have never rented to anyone on ODSP or any type of disability as I want my tenants to maintain the lot as part of their lease, someone on ODSP or disability would therefore be in direct contradiction of why they are originally entitled to those payments. I could see in that situation it would be a must as they always have to prove where the money is going.
So a monthly receipt is a must, I guess. Although I would be tempted to try and somehow register the rent with ODSP as its a stable continuous expense.
So a monthly receipt is a must, I guess. Although I would be tempted to try and somehow register the rent with ODSP as its a stable continuous expense.
No, a monthly receipt does not have to be provided every month. I provide receipts on request only. For the most part I have only had to give out a few each year. Although as I reflect on it now it has tended to be my more troublesome tenants that want receipts.
Engineer · Santa Barbara, CA · Member since 2016 · 6 posts · 0 votes
9y
You could send a quick digital receipt using ExpressExpense. Just enter the info you need to capture, "Rental Receipt" and the amount and date - and then generate the receipt. Once the receipt is made, you can email the receipt to your customer. Pretty easy!
Fair Housing regs forbid this - - the LL must take payment in any form offered.
I never use receipts except on move-in for the deposit and 1st month's rent.
Being a remote LL, cash is not an option. One alternative would be to use a Private Mail Box address for payments and all correspondence :grin:
I would be interested to see the "Fair Housing regs" stating a LL must take payment in any form. Do you have a link to where I can find this regulation?
Fair Housing regs forbid this - - the LL must take payment in any form offered.
I never use receipts except on move-in for the deposit and 1st month's rent.
Being a remote LL, cash is not an option. One alternative would be to use a Private Mail Box address for payments and all correspondence :grin:
I would be interested to see the "Fair Housing regs" stating a LL must take payment in any form. Do you have a link to where I can find this regulation?
Landlords usually state the acceptable forms of payment in the lease. If your lease states that all rental payments must be by check or direct deposit, then your landlord can refuse cash. There is no federal law mandating that individuals or private companies must accept cash. Some states have laws regarding rental payments, so if your lease does not specifically state that cash is prohibited, then check with your local landlord-tenant association for any variances in your area. Some laws may only apply to rental complexes of a certain size, but not to an individual landlord who rents out one house.
Investor · Killeen, TX · Member since 2016 · 13 posts · 3 votes
6y
I have most of my tenants paying me Electronically. For example bank to bank transfer.Zelle bank transfer, Facebook payment and Cash App have not had a issue.I do send my tenants a electronic receipt and file that receipt in a folder I name each month . I don’t think it a big issue if tenant want s receipt. You should be worried if they don’t pay. Once a month using a software program to actually help your business have a accurate history record is not a big issue with me. I even use Rent Receipt Pro to whip out a fast quick and easy rent receipt you can send it to they’re email or text. I use the dictation feature on my phone and have a receipt in less than a minute. Collecting rent is after all we’re you make your monthly profit. Not giving a receipt I would say is being lazy towards your buisness. If you have all your rents due on the 1st you can even have the receipt ready to send once you confirm the tenant has paid you. It’s to easy you should love sending receipts it’s like counting your $$$
I have most of my tenants paying me Electronically. For example bank to bank transfer.Zelle bank transfer, Facebook payment and Cash App have not had a issue.I do send my tenants a electronic receipt and file that receipt in a folder I name each month . I don’t think it a big issue if tenant want s receipt. You should be worried if they don’t pay. Once a month using a software program to actually help your business have a accurate history record is not a big issue with me. I even use Rent Receipt Pro to whip out a fast quick and easy rent receipt you can send it to they’re email or text. I use the dictation feature on my phone and have a receipt in less than a minute. Collecting rent is after all we’re you make your monthly profit. Not giving a receipt I would say is being lazy towards your buisness. If you have all your rents due on the 1st you can even have the receipt ready to send once you confirm the tenant has paid you. It’s to easy you should love sending receipts it’s like counting your $$$
Jorge have you dealt with tenants who don't want to input their bank account info into websites/apps? Our tenants are "uncomfortable" with electronic payments. We are currently driving to the next town over to collect rent and it really isn't time efficient.
I have most of my tenants paying me Electronically. For example bank to bank transfer.Zelle bank transfer, Facebook payment and Cash App have not had a issue.I do send my tenants a electronic receipt and file that receipt in a folder I name each month . I don’t think it a big issue if tenant want s receipt. You should be worried if they don’t pay. Once a month using a software program to actually help your business have a accurate history record is not a big issue with me. I even use Rent Receipt Pro to whip out a fast quick and easy rent receipt you can send it to they’re email or text. I use the dictation feature on my phone and have a receipt in less than a minute. Collecting rent is after all we’re you make your monthly profit. Not giving a receipt I would say is being lazy towards your buisness. If you have all your rents due on the 1st you can even have the receipt ready to send once you confirm the tenant has paid you. It’s to easy you should love sending receipts it’s like counting your $$$
Jorge have you dealt with tenants who don't want to input their bank account info into websites/apps? Our tenants are "uncomfortable" with electronic payments. We are currently driving to the next town over to collect rent and it really isn't time efficient.
Investor · Killeen, TX · Member since 2016 · 13 posts · 3 votes
5y
Sorry for the very late reply. No have not had any issues with any of my tenants receiving electronic receipts. There bank info is not included. Theres many apps you can use to whip out a rent receipt if you tenant wants one.
Real Estate Agent · Newnan, GA · Member since 2021 · 29 posts · 15 votes
5y
@Bill Couture mail though? I would just email her a copy of the payment ledger that shows the date and amount of her payment. I do property management full time and I seldom have someone ask me to mail them anything.
Rental Property Investor · Plainfield, CT · Member since 2014 · 60 posts · 43 votes
5y
@Laci White Glad to see this thread is still alive! Since asking the question five years ago, I've implemented Buildium and haven't mailed a rent payment receipt in four years. Technology is a wonderful thing for landlords.
@Laci White Glad to see this thread is still alive! Since asking the question five years ago, I've implemented Buildium and haven't mailed a rent payment receipt in four years. Technology is a wonderful thing for landlords.
Perfect solution, whether Buildium or some other online rent pay system, account summary is built into the platform. This makes it no different than paying any other bill.