Update November 2017: Tenants now automatically receive a receipt for each rent payment and are able to view all payments within their Cubbi dashboard. To learn more about what Cubbi does click here.
A receipt is a simple thing, it is just a written acknowledgement that payment has been made. We are happy to give a receipt to our tenants for their records. In fact, we are required to give a receipt if asked, and in some states in Australia the regulations state that a receipt must be provided immediately if the rent is paid in cash, even if it is handwritten.
As simple as they seem, writing out a receipt is not always convenient. You either need to hunt up the receipt book and write it out, or you can scribble the information on whatever piece of paper you can find handy and hand it over. The problem with a hand written receipt is that there is certain information that has to be on the receipt or it is simply no good.
Becoming Modern and Efficient
Scraps of paper scream inefficiency, especially for a property owner who is managing their property in a professional manner using Cubbi. Well, now there is a better way!
If you have been using our rent collection tool to track rent payments, you may have noticed a button on the line item to 'Send Receipt'.
When you push the button, we will send an email instantly to your tenant as a receipt. They will be pleased because the email is designed to be easily printed so they have a hard copy, or they can simply keep it in their email inbox until they need it.
You will be sent a copy of the receipt for your records as well, and the time and date that you sent the receipt is recorded on the page.
The Rent Receipt feature is not automatic, so you remain in control. It only takes one button to click. We wanted to be sure you had full control so that you could edit the receipt if you need to. You can even go back several months and send or resend an older receipt.
Now you can also print a Rent Ledger
If your tenant is asking for older receipts, they probably have bigger reasons to update their records. Naturally, most property owners are enthusiastic to help great tenants, and are very willing to print out a record of rent payments. The problem is, before our Rent Collection feature came online, it was not always easy to share these records with tenants, or your accountant for that matter.
Many owners resort to going through their bank statement for the past year and transposed that information. This means going through several sheets of hard to read print, writing down the figures you need, and adding them with a calculator. It would be so much easier to click a couple buttons and print it all out or even email the report to your accountant.
You’ve asked for a better way, and here it is. The Rent Ledger feature creates a PDF file with all of your tenant's payment information. Just attach the file to an email and they can print it up or forward it to whoever needs to see it.
The feedback we are getting on the Rent Collection tool is overwhelmingly positive. When we were developing it, we were sure it would make managing your property easier, but we don't think we are quite finished yet!
We are adding features which will allow you to record any other payments you receive from your tenants (like water bills or electricity) and track expenses that you have to pay towards the property. Just like the rent, you will be able to send a receipt with the click of a button.
Try Rent Collection Now
If you’ve been using it to track your rent payments, you may have noticed the button to the right of each payment. All you do is click the button and the email is sent! Simple!
Be sure to drop a comment below if there is anything else that we can do to help you manage your property. We would love to hear how you are doing collecting rent.