A rent ledger is a crucial tool for managing any rental property, big or small. Think of it as a payment history for each tenant. It’s a record of when rent was paid, how much, and any outstanding balances. For landlords, this tool is essential for keeping properties profitable and running smoothly.
You can create a rent ledger by hand in a notebook, track information manually in a spreadsheet, or use property management software to automate the process. No matter how you create your ledger, maintaining accurate records is essential for both landlords and tenants.