After you open the spreadsheet, save it by another name so that you always have the original document to go back to. Simply click on the appropriate link and download to your computing device. We’ve put together a free, customizable rent ledger template in Google Sheets and Microsoft Excel that you can download for free: Notes (carpet due for replacement, offer tenant incentive for rent renewal, etc.).Additional rent (such as pet, appliance, or roommate rent).Address/Unit number (for multifamily buildings).Type of property (single-family, multifamily, short-term rental).In addition to providing real-time payment updates, a well-designed rent ledger also provides important information such as:
All businesses keep track of income received and outstanding payments due, in order to better manage cash flow. Owners also use the rent ledger to see if there is an outstanding balance owed by a tenant and the late fee assessed, along with when the next rent payment is due.Ī good way to think about a rent ledger is as a combined gross income statement and an accounts receivable report for a rental property. The ledger compiles key data such as the monthly rent, when the rent was received, and in what amount. Benefits of using a good rent ledger include improving property financial performance and identifying opportunities to increase property value.Ī rent ledger is an important document that real estate investors and property managers use to tell at a glance the rent payment status of each tenant.
Even with one rental property, it can be difficult to make sure the rent is being collected on time without having to go through payment receipts or download a monthly bank statement.Ī rent ledger is one of the most valuable reports that property owners can use to help increase cash flow and property value. One of the most common goals in real estate investing is to generate as much income as you reasonably can.
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