What Is a Rent Ledger?
A rent ledger is a document used by the house owners, property managers, and real estate investors to log the information about the rents to be received from the tenants. In general, the ledger is a term used to indicate a book or a document where financial transactions are recorded.
So, a rent ledger is specific to rental transactions. This document helps the property owner to keep track of when the last rent is paid and when the next payment should be made. This ensures that late payments from the tenant can be identified on time and handled efficiently.
What Is Included in a Rent Ledger Template?
A rent ledger template can be used as a base document where you can record these rental transactions with ease and glance at the rent payment status whenever you want. This rent ledger template includes various information such as:
- Rental address - The address of the rented property for which the particular ledger is used.
- Account details - Account, card number, and the year details are included in this section.
- Rental information - The tenant name, owner name, contact details, lease date, lease expiry date, and broker details are included here.
- Ledger table - This is the table where all the rent-related entries are made.
- Date of the collection of rent or other fees from the tenant
- The due amount of rent to be got from the tenant
- Late fees due from the tenant
- Total due amount
- Total bank deposits are done by the tenant to the management trust
- Unpaid amount to be collected from the tenant
How to Fill the Rent Ledger Template?
The rent ledger template is very simple to fill. You can use the below instructions to guide you in filling the ledger.
Step 1 - Use the free rent ledger template PDF available on this page.
Step 2 - Fill the basic information section carefully using the text box fields by clicking and typing on it.
Step 3 - Click on the date fields to see the drop-down calendar. Select the appropriate dates.
Step 4 - Use the number fields to enter the amounts.
Step 5 - Calculate the due, balance, and other amount and enter it carefully.
Who Needs to File a Rent Ledger?
Property owners, real estate dealers, or anyone who collects rent from a tenant or others can use a rent ledger to record the rental transactions. The rental ledger document can give an overview of the amount that the tenant has paid, next payment information, due amount, etc…
Your rental business's income and expenses can easily be tracked with this ledger. This can help to quickly find which tenant is late in paying the rent or use it as a reference to crosscheck any discrepancies in rent payment details.
