In real estate business, landlords lease their property for a specific time while rent is a payment made under the terms of this lease. Here is a free rental payment tracker spreadsheet that can be made monthly, quarterly, or yearly whatever is agreed between few and lessee. It is a hectic job to keep manual track of rent payments made by tenants.
Record charges are hired to keep a record of monthly rent payments in large businesses while domestic lesser’ who just lease a room or shop also keep a manual record of payments made by the tenant. The issue arises in business who only relay on keeping a hard copy of the record as its perishable which decays with time. You can also like the rental property expenses spreadsheet.
These tools do not only help to keep the previous record, but also come with some features to assist rent collection by lesser. Although license of these management tools is out of small lesser’ financial scope, one can make a simple rent collection spreadsheet template using excel to keep track and record of rental payments up to a few hundreds of clients.
Also, it is time-consuming or sometimes impossible to track payments made by tenant 10-20 years back from the manual record of 1,000 shops rental plaza. To get rid of some resources like labor, space, and stationery required to keep a manual record of large-scale real estate business there are many real estate management tools available in the market to serve this purpose. You can also see the rental receipt excel template.
Different particular ways of payment – necessary factors
Before heading towards how Free Rent Payment Excel Spreadsheet templates are made. It is important to understand the process of rent collection. Usually, a receipt is issued to a tenant on time of payment which can directly be generated from a system or filled manually on hard copy for data entry at a later stage. This receipt has basic information about tenant and payment of that particular time for which rent has been paid as follows, You can also check the rental receipt form template.
- Date (On which rent received)
- Receipt No.
- Payment Mode (Cash or Cheque)
- Amount Received
- Rent of Period (Month or Year)
- Name and Address of Tenant
- Signature (Of the person who received the rent)
Read more about Renting.
Free Rent Payment Excel Spreadsheet
Rent Collection Spreadsheet Template
Rent Payment Template Free Download
Free Rent Payment Tracker Spreadsheet
There should be two different sheets to keep proper track. One is a client wise detailed record sheet and the other is a summary sheet of all clients. Client wise rent payment excel spreadsheet represents the following information,
- Tenancy Terms
- Rent to be Paid (Monthly, Yearly)
- Latest Date of Payment as per Tenancy Terms
- Basic Information about Tenant and Property
Above information is mentioned in the header of client wise rent payment tracking sheet while monthly details are added as per below from rent receipt,
- Rent for Time
- Date of Payment
- Amount Due
- Amount Paid
- Receipt #
After having client wise monthly record in hand, a month-wise summary sheet is made for tracking clients whose payments are pending as follows,
- Client or Property ID (Tenant Name or House/Shop #)
- Latest Date of Payment
- Total Pending Rent
- Amount Paid
The above details are mentioned for each client in the summary sheet for a month. For easy visualization and tracking one can red highlight the clients whose payments are remaining till the date?