It’s good to talk to you through this page, and I am glad to welcome you all to use all the templates given here for FREE. Yes, for all those who own property in the form of land, house, shop etc. can make good money by renting them out. If you want to track your payment and monitor your tax commitment in an organized manner, then you need to create a property invoice.
Invoice is a document that will have the details regarding the rent, advance and other money transaction you deal with your tenants. Don’t bother too much about creating a proper invoice as we have done the homework on your behalf. We have collected a different array of authentic property invoice template in word, excel, and pdf format for your immediate perusal. Feel free to click on the template to save to your PC.
But, there is a catch, you cannot print them and need to edit them. To precisely let you know these templates are generalized and you must personalize them with your property and rental details.
We agree that you need help in that area and hence we will handhold you to understand the components of a property invoice, importance and each element, and how to fill them appropriately.
Let ’s move inside further to understand every single terminology used in the property invoice.
Property Invoice Templates
Similar to every invoice property invoice also includes components like date, invoice number, contact details, amount, and tax. However, the property rent calculation details will be unique based on your property. We can find detailed explanation about the same in this section.
Property Rent Invoice Components and Its Importance
Below the title invoice, you must mention the date. This is the date when you create the invoice. Next, write the invoice number. This must be a unique number you create based on the number of properties you have to enable you to track the details. This is a reference number, and you can choose the format you prefer.
Now, below this, you need to mention the address. This will be your current address and the tenant’s address. However, your present tenant address is your property and this is also your address. Anyways, joke apart; remember to give the address details properly. Mention your contact number.
Next is the crucial section where you will mention the property details and the rent details. The rental information will include the following represented in the table format for your better understanding.
|Property description||Rental Period||Rent Amount||Maintenance Charges||Repair charges if any||Total Amount|
|Shop||15th to 30th June 2018||2000||200||–||2200|
|Land||April 2018 – May 2018||10000||–||–||100000|
You can use this table for reference and fill details accordingly. If there is more than one property rented to the same person, then you can fill in all the details. But, if different people are renting your property, then you need to give individual invoices.
At the end of the column find the total and include the tax. Then write the total amount to be paid in words
Clearly, state the mode of payment and due for cash at the end of the invoice and after that sign the invoice.
Now, your invoices are ready for dispatch and feel glad that you and your tenant both will get benefitted. They can also use this invoice as a rental receipt for their personal use.
Property Management Invoice
Property invoice can be handled by you when you have one or two properties. In case you have several properties then you must take help from property management agencies to help you collect the rents from different tenants.
Alternatively, if you stay abroad and want someone to manage your property, then the property management team comes into the picture.
Under any circumstance, you need the legal document called invoice to bill your tenant and pay your property management company as well.
This time you can refer these templates to the property management company to make their rental collection process a streamlined one.
Even if you own a property management company, then quickly use these templates to add more professionalism to your service.
This invoice also will contain essential elements like the date, period, description, amount etc. The only difference is, this invoice will also include the services provided by the property management company and their charges.
Tasks included by the property management business
- Finding a tenant for your rental house, commercial property etc.
- Executing a legal agreement with them mentioning the terms and conditions.
- Collecting rent from them on a monthly or yearly basis based on your decision.
- Performing maintenance work at your place on a regular basis.
Overall, they will represent you and take care of your property.
Typical terms and conditions in a property invoice template
This is also a critical section which must be there on the invoice to avoid any misconduct of the tenant in your property. There are several news we come across that tenant cheated on the owner by refusing to vacate, misusing the rental property for illegal activities and much more.
Do not panic, as you can prevent them legally from doing so by explicitly stating all in your invoice terms and conditions. This will help you to take legal action against them when they carry out any malpractice.
Mention the date of entry of your tenant and tell that periodically their agreement will be revised. In general, make a fresh agreement every 11 months, and that will help you to watch the tenant behavior closely.
Let them know that for damage of taps and other things installed in the house/shop post their occupancy will be their responsibility.
They must know the exact date when they need to pay the rent otherwise additional amount will be charged as penalty.
The tenant cannot rent out partially or fully your property when they are paying rent for you. This means that they can rent one room in your house for another tenant and make money out of that.
They must also allow you to visit your property frequently and should not prevent the same. Also, they have to intimate you on any repair work and get them fixed at their own cost.
Making these points clear in the terms will help you avoid any difficulties handling tenant.
Property Tax Invoice
When your tenant pays property tax on your behalf, you need to pay it back to them and use this invoice for the same.
Yes, irrespective of the property you own, every country has the practice of collecting the tax, and that is called the property tax.
This property tax must be paid by you and not the tenant. Every owner must pay tax to the government, and some owners charge this from tenants.
Either way, prepare an invoice for the amount paid, or it usually is paid yearly or half yearly depending on the country law.
You must create this invoice to deduct that amount from your tenant rent. Therefore download the template given here to fill in the details and append that with the rental invoice, and you can adjust the amount accordingly.
It is a good habit to use invoice in the particular format for your specific property and use them for all your future references.