Rocket Lawyer is an online legal technology company that makes the law simpler and more affordable for businesses, families and individuals. Failing to do so may result in penalties or fines, depending on the state and city where the rental property is located.
Moreover, many states have laws that mandate landlords and property managers to provide a Rent Receipt to tenants every time they make a rental payment. They can also serve as evidence of a tenant's habitual late payment if the landlord needs to pursue eviction. Rent Receipts create a record of the date and amount paid, which can be useful in case of a dispute or if there is a need to prove payment was made late or for an insufficient amount. If only partial payment is made, the Rent Receipt will specify the amount paid and the remaining balance. The receipt includes the total amount paid, which is usually the monthly rent plus any additional charges or fees. Rent Receipts are typically prepared by the landlord or property manager and given to the tenant after they make a monthly rental payment. Rent Receipts are required in many states and are used for record keeping purposes.
A Rent Receipt is a document that serves as legal proof that a rental payment has been made.
