Keeping track of rent collection can take time and effort, especially if you own multiple properties. It’s challenging to manage a sea of rent receipts, bank statements, messages, and invoices – all at once. That’s where a tool like a fillable rent ledger comes in handy.
This blog post will provide simple steps to help you manage and monitor your rental income using a ‘rent ledger template.’ We will also discuss a better way of rent tracking than rent ledgers.
A rent ledger, or a rental ledger, is a document or digital tool used to track and record all the rent payments you receive from your tenants. It helps you track when a tenant’s rent is due and lets you contact them using their provided contact information on the rent ledger.
Think of it as a detailed diary of your property’s rent transactions to track financial records as you usually do in a business. In this ledger, you record every rental payment, noting down essential details such as:
Some investors prefer to focus only on rental rates and collections, keeping things simple. However, for those who want a more comprehensive and accurate approach, it’s essential to maintain a detailed record of every aspect that could be beneficial in the future.
Learn how rent ledgers work and time-saving tips for tracking rent.
Let’s explore why keeping a rent ledger and its numerous benefits are essential.
We’ve designed a fillable rent ledger template specifically tailored to the needs of landlords and property managers like you. It’s user-friendly, customizable, and, best of all, completely free!
Here’s a free fillable rent ledger template for your rental properties provided by Baselane:
You can open the fillable rent ledger in programs like MS Word, Google Docs, or any document software that supports the format. Later, you can share it as a PDF file with your tenants or landlords. You can also use Google Sheets to build your own rent ledger from this template.
Here are detailed step-by-step instructions to help you fill out the form with ease:
Begin by accessing Baselane’s rent ledger template through the provided link.
Copy the template to your preferred device or Google Drive to personalize it.
Fill in the details related to the property, including:
These fields will provide a complete overview of the property in question.
In this section, provide current tenants’ information. Enter the ‘Tenant’s Name’ and ‘Tenant’s Contact,’ including their phone number or email address.
Now, move to the rent tracking table, where you’ll document the monthly rent details.
Fill in the following information:
This comprehensive information will allow you to easily track rent payments, due dates, and other related information.
Utilize the ‘Notes’ field in the rent tracking table to jot down any additional remarks or specifics related to individual payments.
This could include information about the payment method, special agreements, or other vital details a landlord or tenant may need to reference later.
Finally, review the entire ledger to ensure all information is entered correctly. You can also include an electronic signature of yourself.
Make any necessary adjustments or corrections, then save the document securely. Regularly update the ledger as new rent payments are made, and consider keeping a backup to prevent any data loss.
You’ve taken a significant step in streamlining your rent tracking process using Baselane’s free fillable rent ledger template. But why stop there?
Baselane’s property management software doesn’t just provide a fillable rent ledger template; it automates the entire process with automatic rent collection, a modern user interface (UI), and the ability to manage multiple properties easily.
Get paid on time with automated rent payments, reminders, and late fees.
Imagine not having to enter rent details every month manually, but instead, having everything updated automatically, right at your fingertips! Save time, and reduce errors — Book a demo today!
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