Rental revenue recognition at end of year...

[Chris Martin]

This IRS topic defines rental income in this way: "Generally, cash or the fair market value of property you receive for the use of real estate or personal property is taxable to you as rental income." The question is this. What does "you receive" mean? If you use a property manager (PM) then does the "you" mean the company and its agent(s)?

Here's an example. Company A, an LLC, employs a PM for lease fulfilment. On December 27, the PM leases a property owned by Company A, and PM receives rent and deposit. On January 10, the PM sends to Company A the monthly statement, including rent payments for the property leased December 27, and the company receives it on January 11.

In what year does Company A record the rent received? Is this simply a company policy decision?