Hey guys - I will be signing new tenants for my newly-renovated property and I am wondering if anyone has any AWESOME rent receipts, or methods for proof of payment for a Ledger that I can document? The one I currently use sucks! If Bigger Pockets has one, I am ignorant to it and a link to it would be extremely helpful. Thanks so much!
Not sure about your state but here we only need to provide receipts for cash payments. If I mandate the tenant pay rent by check or money order a receipt is not needed as the deposited check is proof of payment. Same with any type of electronic payment.
Obviously you need to track payments on your side and a simple spreadsheet can accomplish that if you need a simple inexpensive solution.
That's how we handle it to. We created a simple receipt form, 3 to a page, and keep those in our glove boxes so we can fill them out and give them to the tenants when they pay. The bank account deposit and our Excel tracking is for our side. If there is ever a dispute it is up to the tenant to provide the receipt, it is for their protection.
Here's a simple rent receipt book on Amazon with carbon copy.
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