What is a Tenant Ledger?
What is a Tenant Ledger?
A Tenant Ledger is a financial record that tracks all the transactions between a landlord (or property manager) and a tenant. It serves as a detailed account of the rent payments, charges, fees, and any other financial transactions related to the tenancy. Typically, the ledger includes:
- Rent payments (dates and amounts)
- Outstanding balances
- Late fees or penalties
- Security deposits (and deductions, if applicable)
- Utility payments, if relevant
- Maintenance or repair costs billed to the tenant
Property managers or landlords use the tenant ledger to monitor whether tenants are up to date with payments and to resolve any discrepancies that might arise concerning amounts owed. Tenants can also request a copy of the ledger to review their payment history.
