Do you own a property and have tenants living in it? Or do you live as a tenant? In both cases, it is important to keep track of your rent payments. You may inadvertently pay more or less if no proper record is kept of your payments. This is also useful in case of any legal action against the tenant or the owner. It is mandatory to keep a ledger as per many countries tenancy laws. Maintaining a standardized tenant rent ledger is the best way to address this need. If you have no idea how to go about creating a ledger, then browse through our finance statement template options given below and choose the one that fits all your needs.
5 Steps to Write the Best Tenant Ledger
Step 1: Mention Tenant Details
It is important to mention details of tenants on the rent ledger as it will help you identify for whom the ledger is. This is also handy in case of any legal action. In case you have multiple tenants sharing your property mention everyone’s details. If you have multiple properties and multiple tenants then this step becomes a necessity.
Step 2: Make a Table
A table is much more preferable when it comes to keeping records. The organized structure of a table enables quick calculations as well as quick rechecking for any discrepancies. Tables enable you to add columns if any new point comes up. Writing ledger in a paragraph format makes it quite difficult to search for information and analyze it.
Step 3: Put In Comments
Comments are a useful tool in the case of tenant rent ledgers. You can simply add a comment column in your table. This would provide space to write about each month. You can write about the mode of delayed payments, any advances made, any issues faced in a payment like a check dishonored, etc.
Step 4: Get It Signed
Always get your tenant rent ledger signed from your tenant every month or after every few months. This keeps the landowner and tenant on the same page in terms of rent payments. Also having it signed helps you later in court if any legal battle starts. A signed tenant ledger will carry more weight in court and keep the scale in your favor.
Step 5: Mention Mode of Payment
It is a good practice to mention in what way payment has been made every month or week. This helps in tracking the payments while auditing your accounts. Many times cash payments through hand go unrecorded and may cause confusion when auditing the accounts. You may mention a standard mode of payment in tenant details and can note any deviation from it in the comments section. Or you may have a separate column for a mode of payment.
9+ Best Tenant Ledger Templates
1. Basic Best Tenant Ledger Template
Do you want a ready to print tenant financial statement template? Then go no further. Download this document and use it directly. It can be used for any year and has blank spaces to fill all the relevant information. It provides a separate section for notes to mention any issues, discrepancies, or special circumstances related to the tenant.
2. General Best Tenant Ledger Template
One of the best tenant financial statements you can have is this one. Available for free download in the PDF format, you get an owner’s ledger template plus a tenant security deposit ledger template on page number 54 of this document. Page 53 includes a tenant ledger template for multi-family dwellings.
3. Free Best Tenant Ledger Template
A government body’s ledger paper template is one of the most trustworthy sources to emulate. Page 8 of this freely available PDF document provides a sample rent ledger template. It has columns for receipt number, date of rent payment, the amount paid, and period of rent. Other instructions related to managing tenancies are also provided for free in this booklet.
4. Best Formal Tenant Ledger Template
If you are looking for a ledger paper template that can be used by the landlord as well as the tenant then this PDF would be a good choice for you. It is a general formal tenant ledger template which has columns on balance due, paid amount, description of charges, etc. If both the landowner and the tenant have the same format document, it becomes easy to cross-check and resolve issues.
5. Detailed Tenant Ledger Template
A detailed tenant financial statement template sample helps you with not only understanding the amount paid but also for which time period the rent has been utilized. This PDF template enables you to see for how many days the tenant is lagging in rent payment. Also, any advance payments are clearly reflected. All types of payments like rent, deposit, bond fee, etc. can be included in this single template.
6. Best Tenant Ledger Spreadsheet Template
This two page PDF document will help you keep your records in an organized manner. This tenant accounting spreadsheet template provides all the basic columns needed for a tenant ledger. It also has comments column to describe any problems like a dishonored check, late payment, mode of payment, etc. The spreadsheet has details of the tenant, bond, method of payment, etc. above it.
7. Model Best Tenant Ledger Template
It is very convenient to have this editable financial statement sample for keeping your rent records. You can simply edit this file by downloading it for free. If you wish to fill the tenant ledger template by hand, then you can immediately print page 3 of the document on downloading, as it is ready to use.
8. Sample Best Tenant Ledger Template
This sample financial statement template is one of the easiest to edit as it comes in the DOCX format and is very easy to use. The first page is a template while the second page shows how the ledger template can be filled. Being a simple table, it can be used by anyone.
9. Best Standard Tenant Ledger Template
When a financial authority provides you a tenant ledger format, then it is apt to use the format as it would avoid any legal or financial misinterpretations. The third page of this freely downloadable word document contains a standard financial report template. It has columns like demand and realization for debit and credit of the rent. The first page also has a general ledger format which can be used to mention rents collected.
10. Simple Best Tenant Ledger Template
One of the simplest financial statement analysis example templates you can find anywhere is this. It is a simple table of 5 columns. Being in an editable format, the document can be availed freely and edited in Microsoft Word software. It has provision to mention late fees too. Its simplicity makes it popular amongst many people.