It’s not always easy to find the perfect rental invoice template for your real estate business. You need one that is both professional and customizable, so you can make sure all of your invoicing needs are met.
This blog post will discuss tips for finding the right rental invoice template for your business. We’ll also provide download links for a free rental invoice template, along with some recommendations on how to automate your rental invoicing.
- When billing your tenants, a rental invoice template can save you time and money.
- The template will provide you with a structured way to list all the charges associated with the rental property and the payment terms.
- Include all relevant information on the invoice, such as the date, property address, and your contact information.
- You can offer tenants the ability to pay on time with Stessa online rent collection.
Benefits of using a rental invoice
A rental invoice is a document that landlords can use to request payment from tenants. It typically includes the amount of rent due, the date it is due, and the landlord’s contact information. There are several benefits to using a rental invoice:
- Helps to ensure timely rent payments. By having a record of when rent is due, landlords can follow up with tenants who may be behind on their payments.
- Keeps track of late fees. If a tenant is late on their rent payment, the landlord can easily refer to the rental invoice to see how much the late fee will be.
- Deters disputes. By having all pertinent information (such as move-in date, rent amount, etc.) listed on the invoice, landlords and tenants can avoid any disputes about the rent.
- Provides a record. If a tenant does not pay their rent or damages the rental property, the landlord will have something to refer to when taking legal action.
- Gives peace of mind. Knowing that all rent payments and other information related to the rental property are well organized and easily accessible can help you stay on top of your finances.
Information to include on a rental invoice template
Here’s what a rental invoice looks like:
Information on your rental invoice should include:
- Rental period. This should be clearly stated so there is no confusion about when rent is due.
- Rental amount. Again, this should be plainly stated to avoid misunderstandings.
- Late fee. If a tenant doesn’t pay on time, you may charge a late fee. Be sure to include this on the invoice, so they know what they’ll owe if they’re late.
- Payment method. Make it clear how you prefer to be paid (cash, check, or online). This will help tenants get their payments to you on time.
- Your contact information: Include your name, address, and phone number in case tenants have questions.
Download our free rental invoice template as a Google Doc or PDF and customize it for your specific needs:
- Download free rental invoice template in a Google Doc
- Download free rental invoice template as a PDF
How to automate your rental invoicing
To automatically create rental invoices and track rent payments, sign up for a free account with Stessa. Once you have an account, you can add your properties and start tracking rental payments.
Automating rental invoicing and online rent collection with Stessa is easy. Once you’ve opened a Cash Management account, all you need is an active lease and your tenant’s email address. Set up the balance due, and Stessa will send your tenant an email invitation to start paying rent with Stessa’s online rent collection feature.
Tenants can set up free recurring Automated Clearing House (ACH) payments—so they never miss a deadline. Options for additional payment methods are coming soon.
In addition to automatic rent invoices and online rent collection, you can use Stessa to monitor your rental property performance online via a comprehensive owner’s dashboard and generate key financial reports, including:
- Rent roll
- Occupancy report
- Rental income report
- Expense report
- Profit and loss (P&L) statement
- Cash-flow statement
Provides a list of all the tenants renting from you, as well as their contact information and rental terms. This is useful for keeping track of your tenants and ensuring they are current on their rental payments.
This report indicates the current occupancy rate for your rental property. Data helps determine how full your rental property is and for identifying any vacancy periods.
Rental Income Report
Displays how much rental income you have earned over a specific period of time. This is useful for tracking your rental property’s performance and determining if you are meeting your financial goals.
This document shows all the expenses associated with your rental property, such as repair and maintenance costs, marketing expenses, etc. Having this information is helpful for determining how much money you are spending on your rental property and for identifying areas where you can save money.
Profit and Loss (P&L) Statement
P&L report provides your rental property’s financial information, such as income, expenses, and net profit. This is useful for tracking your rental property’s overall financial performance.
Cash Flow Statement
This report illustrates the rental property’s cash flow for a particular time frame. The statement helps you monitor how much money is coming in and going out of your rental property and identify any periods when the rental property may be cash-flow negative.
A rental invoice can provide a clear and concise record of rent payments. In addition, a rental invoice can be used to track late and missed rent payments. Rent collection is an important part of being a landlord, but it can also be time-consuming and stressful.
With Stessa online rent collection, you can easily automate the process, making managing your rental property easier and more efficient. In addition, Stessa provides comprehensive reporting and analytic tools that can help you understand your finances and make informed decisions about your rental business.
With all these benefits, it’s no wonder that more landlords are using Stessa to streamline their rental operations. Give it a try today (it’s free) and see how much simpler your life can be.