Do you give receipt/confirmation for rent received?

[Wesley Kuo]

Greetings BP family!

I want to know how many landlords here give receipt or confirmation of any form to acknowledge rent received from tenants? From my perspective, it can be used to:

1. make tax reporting easier

2. resolve any dispute with tenant, if any.

I have my tenants direct deposit rent to my bank account. Does online bank statement suffice in this case?

I could be wrong, and a receipt is completely unnecessary.

Thank you!

Wes

[Nathan Miller]

All my tenants get a receipt emailed to them right from the manager's property management software and/or they login to their portal to get copies if they want them.  No longer need to do paper receipts.

In your case, if your tenants deposit into your account, then your bank account statement is every bit of proof you need.  However, I would caution against letting your tenants know your account # to do deposits.  I'd look into ACH instead - automate everything.