What is a Rent Record and Why Tracking Rent Installments Is Significant

What is a Rent Record and Why Tracking Rent Installments Is Significant

What is a Rent record?

A rent record is a record of all the lease installments made by an inhabitant to a property manager. It is utilized to monitor how much the lease has been paid when it was paid, and any remaining equilibrium. It is critical to have a lease record to have an unmistakable record of the monetary exchanges between a landowner and occupant, and to guarantee that all lease installments have been made on time and in full. Furthermore, a lease record can be utilized in court as proof in case of a debate between a landowner and occupant over lease installments.

What subtleties are remembered for a rent record

  • Inhabitant’s name: The name of the occupant who is making the lease installments.
  • Property Address: The location of the property that the lease is being paid for.
  • Lease sum: how much lease is expected for every month or period.
  • Due date: The date on which the lease is expected.
  • Installment date: The date on which the lease was paid.
  • Installment strategy: The technique for installment utilized (for example cash, check, online installment, and so on.)
  • Receipt number: The number allotted to the receipt for the lease installment, if material.
  • Balance: The remarkable equilibrium on the lease installments, if any.

A lease record can be either physical or computerized.

An actual lease record is a paper report that is physically refreshed and put away. This can be as a notepad or a bound record book. The upside of an actual lease record is that it tends to be handily gotten to and surveyed. Be that as it may, it has the detriment of being not so much secure but rather more vulnerable to harm or misfortune. An advanced lease record is an electronic report that is put away on a PC or a cloud-based framework. It may be refreshed and gotten to through a product program(like Rentroom), and can be handily shared, printed, and supported.

Rentroom’s Lease Record Report

RentRoom is a property the board programming that furnishes landowners and property supervisors with instruments to deal with their properties and occupants. One of the highlights of Rentroom is the lease record report.

The Rentroom lease record report is a definite record of all lease installments made by inhabitants. The report shows the date the lease was paid, the sum paid, the installment strategy, and any late charges, if pertinent. The report additionally shows any remaining adjusts and permits landowners to channel the report by inhabitant, property, or date range.

Model report from Rentroom:

The most effective method to involve a lease record in the event of an expulsion

A lease record can be utilized as proof in case of an ousting case. In case of non-installment of the lease or infringement of the rent understanding, a landowner might decide to expel an occupant. To do this, the property manager should initially furnish the occupant with a composed notice and may then record an expulsion claim in court.

While introducing a case for removal, a property manager can involve the lease record as proof of the inhabitant’s non-installment of the lease or infringement of the rent understanding. The lease record can show the dates the lease was expected, the sums that were expected, and any installments that were made. The record can likewise show if the occupant had any remaining equilibrium.


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