A rental statement is a document outlining key details of a rental agreement between a landlord and a tenant. It includes information such as property details, lease terms, payment breakdown, utility responsibilities, security deposit, maintenance guidelines, and notice procedures. This document ensures clarity and serves as a record of the financial and contractual aspects of the rental arrangement for both parties.
When you use a third party agent to manage your property rental business, you will generally receive a monthly, quarterly or annual statement from your agent.
It is an important document for accounting purposes as it will enable us to report both income and expenses correctly for tax purposes.
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