As a proprietor, your duty is to ensure all your tenants are comfortable and the properties you own are well-maintained. While taking care of such things you might not get time to spend on time-consuming administrative tasks, such as invoicing.
To save valuable time and cut down the stress, you need to have a rent invoices template for all the tenants. This helps ensure you get paid quickly.
A rental invoice is a simple format that would be sent by email or post to a tenant (business rentals, multi-family, or single-tenant) once the tenants agree to all the terms and conditions.
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Why Rental Professionals Need To Send Invoices
Whether you lend apartments, commercial buildings, or any kind of equipment on rent, you will be able to provide excellent customer service and a positive experience to your clients through a professional invoice.
And here are the reasons why rental professionals need to issue invoices.
- To state payment policies
- To maintain a record of financial bookkeeping
- To make the tenets understand the charges
- To help tenants with payment instructions
- To protect yourself and the property against any lawsuits
- Win the trust of the clients and grow your rental business
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Whether your business is in construction, landscaping, consulting, photography, auto repair, or the medical field, invoicing takes way too long. That’s why we’re here. InvoiceOwl makes your invoicing faster and simpler so you can get paid promptly and without the hassle.
What are The Benefits of a Rent Invoice?
As a property owner you just don’t rent out the property but you also need to stay up-to-date in the most organized way possible.
You provide a home to live in or an office to work, for that, you deserve to be paid. And to receive a payment you should create a professional monthly rent invoice on time.
There are multiple benefits of using a rent invoice template, some of them are –
- Lesser time to create an invoice
- Lesser effort to create an invoice
- Faster payments
- Organized renter’s information
- Positive cash flow
- Printer-friendly invoices
- Easy to claim a tax deduction
- Invoice consistency
With a monthly rent invoice, you can be relaxed knowing everything is covered in the invoice templates you have created.
What You Should Include in a Rental Invoice?
You and your rental property managers work hard to meet their expectations. In such a scenario, invoices play a major role in collecting month’s rent payments and help you and tenants in understanding what they are paying for.
Therefore, ensure the monthly rent invoice template you choose is customizable and fits your business requirements. The template should let you add all the necessary information
After saving it in your invoice template, you need to fill in the blanks.
Here are a few important steps that you can follow for creating a rent invoice template –
- The title “INVOICE”
- Your business name, logo, mailing address, phone number, and email address
- Client’s name, billing address, phone number, and email address
- Invoice date
- Invoice number
- Billing month
- Property details with description
- Additional charges
- Applied tax
- Total amount to be paid
- Payment terms
- Due date
- Payment instructions
- Payment policy
Types of Rental Invoice Template
There are many types of rental invoice templates that are used for different purposes. These types help create accurate and niche-specific invoices for your rental business.
So, let’s have a quick look at types of the rental invoice templates.
This is the most common type of rental invoice template. If you have lent a residential property, this is the best invoice template for your business. It lets you invoice your tenant with the least effort. Other than that, you can use it as a recurring invoice template as well.
When you lend your property for a short period, such as for a couple of weeks or a month, you have to collect the rent accordingly. Thus, this short-term real estate rental invoice template lets you charge your client on a weekly basis.
Commercial space rental
Want to offer your commercial property for rent? When you are charging rent for commercial property, it has different aspects from rent for residential property. Thus, use this commercial rental invoice template helps request payments for commercial space rental.
Event space rental
Charging clients for renting a property for an event has to be a lot more flexible than charging clients for renting a residential property. Since most of the events are for a hour, this template lets you charge the clients on an hourly basis and is much flexible to fulfill your invoicing needs.
When you lend a piece of equipment to a client, you need to ask for a deposit in advance. This advance has to be returned at the time of the end of the rental contract. Thus, this equipment rental invoice template helps you request that deposit and the rental charges for any equipment.
How to Create Rental Invoice Template
Many landlords might find it difficult and confusing at first, but creating such documents is actually very simple once you start creating them using the InvoiceOwl invoicing app.
All you have to do to create a professional rental invoice template is a few clicks.
InvoiceOwl lets you create invoice templates quickly with a visual editor. Moreover, you can see the real-time preview for the best outcome.
It will be easier for you to create a good-looking professional invoice template if you preplan the necessary details for the tenants. You can also follow some invoicing tricks and tips while creating a monthly rent invoice example for better results.
Invoicing Tips Rental Professionals
If you want your invoice to stand apart from your competitors’ invoices, these tips for creating rental invoices will help you a lot.
Market your Services
Make sure you mention your business details with contact details and mention all the types of properties you lend.
Don’t Forget to Include the Billing Month
Rent invoices are almost similar for every month. Thus, letting your client know for which month they are paying the rent makes them pay you quicker.
Download a Rent Invoice Template for Free
Still, if you find it difficult and you have a lot of information to include in your invoice, here is a ready-made rental invoice template by InvoiceOwl that you can download and start creating unlimited invoices right away.
Before you create a rental invoice template, make sure you have all the details to be mentioned. And choose the template best suitable for the information you have.
How is the rent invoice created? You can create the rental bill template following the steps:
- Download a rental invoice template of your choice
- Add your business details and the client’s as well
- Mention the invoice date and the invoice number
- Add the property address, rental period, and rates
- Mention the total amount to be paid and the due date
- Help the client by mentioning payment instructions and policy
Can I customize the rent invoice?
Yes, you can customize any of the templates you choose for your business. You can tailor each and everything in your bills such as bill number format, add your company name, logo, choose colors and fonts based on your branding style, and add/remove additional details as per requirements. You can also create header and footer styles and do the branding of your business.
How do I receive the payment?
Your tenants will find the preferred payment method at the bottom of your bill and according to that, they will make the payment transfer. You can also include a payment link in your bill so that it can help them make quick payments. You can also include the steps to follow for making payments to guide your renters and these little things will help you get paid faster.
Create Professional Invoices Online Easily and Keep On Top of Your Finances
InvoiceOwl is a feature-rich invoicing app that helps small businesses, freelancers, and contractors to create invoices on the go and get paid quicker!
In this blog, we explain how and when a rent invoice template benefits proprietors to get paid quickly.
If you want to create a unique invoice for your rental business, InvoiceOwl lets you create unlimited invoices with highly customized designs without breaking a sweat.
So what are you waiting for? Download InvoiceOwl —A complete accounting software now!