Best Apps to Create Rent Receipt Online
Providing a rent receipt is in favor of both the landlord and the tenants. After paying the rent, tenants require an acknowledgment that the landlord has received the same. A Rent Receipt serves this purpose and both the parties will have a proof of the payments. However, landlords nowadays prefer collecting rent payments online which somehow eliminates the need of providing a separate rent receipt. But, there still are several other reasons, your tenant may require a rent receipt from you. One such reasons may include that landlords yet are collecting rents in cash.
A Rent Receipt provides an acknowledgment to the Tenant that the rent payment has been received by the Landlord. Creating a rent receipt is easy and there are various ways of doing it. The most convenient way is to create a Rent Receipt online. You can create a Free Rental Receipt using pre-existing Templates and can download the same in the Word or a PDF format. You can even send them directly to the tenant to sign it digitally.
Do you Require to Provide Rent Receipts?
Are you necessarily required to provide the rent receipt to your tenants? Is there a legal obligation that you should know related to providing rent receipts?
In some states, it is a legal obligation that a landlord provides rent receipts to his tenants. It is mandatory that you issue a rent receipt on demand if there is no other proof of payment is available with the tenant.
Furthermore, it is important to be fair and establish a trust with your tenants. And providing rent receipts promotes this behavior. In the long run, you foster your relationship with the tenant. Not only this but providing a rent receipt also helps in accounting and keep records for later use if ever the need arise.
Jack Zhai from Property 360 has adopted a unique approach for the rent receipts. He now includes “Was Paid To” and “Now Paid To” terms instead of simply writing the period rent is paid for. He believes, it adds value in the mind of the tenant when they pay the rent.
Rent Receipt Apps to Generate Rent Receipt Online
Now that you require to provide the rent receipts, let us narrow down the best apps to create a rent receipt online. You can create a Rent Receipt form in less than 5 minutes using these online apps and services. These apps contain state-specific rent receipt templates that can easily be downloaded and printed as per your needs.
1. Wonder.Legal
Create a rent receipt with a pre-set template by using Wonder Legal. This rent receipt maker app takes no more than 5 minutes and has an easy 10-step process. In the end, you can download the rent receipt form in either Word format or PDF Format.
Wonder Legal Highlights:
- Mention Partial Payments: Yes
- Different Modes of Payment: Yes
- Can mention late fees on outstanding rent
- No. of steps to create rent receipt: 10
- Price: Free
Wonder Legal Downsides:
- Form Customization: No
- Currency: US Dollars only
- Digital Signature: No
How To Use Wonder Legal To Generate Rent Receipts Online?
Printable Wonder. Legal Sample Rent Receipts
2. Rocket Lawyer
With Rocket Lawyer, you can create rent receipts that can be customized according to the state. It takes simple 12 steps and hardly 3 minutes to generate a state-specific rent receipt. You can even sign the rent receipt online. And after completing it, you can download it or mail it directly to your tenants.
Rocket Lawyer Highlights:
- Custom Forms (State Specific) [Only Rocket Lawyer offers this Feature]*
- Can include more than one tenant
- Mention Partial Payments: Yes
- Different Modes of Payment: Yes
- Digital Signature: Yes
- No. of steps to create rent receipt: 12
Rocket Lawyer Downsides:
- Currency: US Dollars only
- Price: Free trial for 7 Days (Billed at $39.99/month afterward)
How To Use Rocket Lawyer To Generate Rent Receipt Online?
Rocket Lawyer Sample Rent Receipts
3. Form Swift
Form Swift lets you create and download rent receipts in PDF format. You can also mail it or even print it directly depending upon your needs. It only takes 9 steps to generate a rent receipt with Form Swift.
Form Swift Highlights
- Mention Partial Payments: Yes
- Different Modes of Payment: Yes
- Digital Signature: Can include more than one signatory
- Share Document: Print Directly, Mail, or Export as PDF
- No. of steps to create rent receipt: 9
Form Swift Downsides:
- Currency: US Dollars only
- Form Customization: No
- Price: Free trial for 7 Days (Billed at $29.95/month afterward
- No option to download in Word Format
How To Use Form Swift To Generate Rent Receipts Online?
Form Swift Sample Rent Receipts
How To Fill Out a Rent Receipt?
To fill out a rent receipt, you must have all the information that goes on the rent receipt. The rent receipt includes information related to the date of rent paid and the mode by which the payment has been received.
Let us list all the information you need to fill out a rent receipt to provide to your tenants.
- Name of the Tenant
- Address of your Rental Property
- Date of issue
- Receipt Number
- Rent Period (From-To)
- Monthly Rent
- Cost of Monthly Utilities
- Amount Received from the Tenant
- Mode of Payment
- Balance Amount (If Any)
- Due Date for Balance Amount
Printable Rent Receipt Templates
Short of time and simply want to Print the Rent Receipts? Download and Print the Rent Receipt from our Free Printable Rent Receipt Templates Collection. Download the Rent Receipts in one click and Print them directly. Here are the reusable Rent Receipt Templates which you can print and fill up instantly.
Download Printable Rent Receipt Sample (Template 1)
Printable Rent Receipt Sample (Template 2)
How to Make Quarterly or Yearly Rent Receipts?
The above rental receipt apps help you generate monthly Rent receipts. But what if your tenant needs a rent receipt in a quarterly or yearly format. Sometimes, a tenant needs a rent receipt for tax purposes. In such cases, he can ask you to provide a rent receipt on a quarterly basis or yearly basis. So, how will you then write a rent receipt on a quarter or yearly base?
If you are required to fill the rent receipt on either a quarterly basis or yearly basis, simply change the rental period from a month to either quarter or to the year depending upon the need of the tenant.
The Bottom Line
All the operations required for running a rental business are getting automated these days. Hardly are landlords who still are using conventional ways. You can save a lot of your time by managing your rental business operations online. So why not generate rent receipt online by using the above online rent receipt apps?
You can not only generate the rent receipt online but there are also these apps now which help you collect rent online. The process is completely automated. No need to bang on your tenant`s door again, or go to the bank to deposit that rent check. Even the rent receipt automatically gets mailed to the tenant once the payment has been received in the account.