Providing Receipt for Rent Paid

[Jonathan Harms]

What are your thoughts on giving tenants a receipt each month after their rent check clears? I have been doing this and using it as a communication tool and also to perhaps create goodwill with the tenants. On the other hand, perhaps it is only busy work that isn't providing a benefit for my rental business or the tenant.

[Deanna McCormick]

@Marcia Maynard  Re: CRP   Certificate of Rent Paid tax Form..

This is a State Tax Form some states require it some don't, and it may be referred to as something similar but if you have rental property in a state where it is required you as landlord must provide this form to your renters for the tax year  they paid you rent ,by Jan 31 the following year.. so 2017 rental income would be filled out on the form and must be given to tenant by January 31,2018.. 

For instance in Kansas it's called the RNT form,, Certificate of Rent Paid.. 

So when you have to do this at tax time each year and have over 300 apartments,, its a job to complete and get mailed out.. Also for multiple tenants that are on a lease, the total of rent paid is split evenly between the tenants and each gets a CRP form for their portion of the rent collected on that apartment.. Late fee's aren't considered rent. So anyone doing this for the first time,, check to make sure your filling out the forms correctly, and you are required to keep copy of forms for your records..