Why your rental ledger matters at the end of your tenancy

A rental ledger showing your timely rent payments can strengthen your rental application for future properties.

This document is a record of your rental payment history, and it can increase your chances of being approved for future rentals.

What is a rental ledger?

A rental ledger is a document that records every rent payment made and the dates they cover. It helps keep track of payments and provides proof of payment.

Landlords and property managers in Australia typically use rental management software to maintain a tenancy history, which includes your ledger.

If you’re a tenant, requesting a copy of your rental ledger for your records is a good idea. This can be useful for proving your rental payment history to future landlords or agents.

You might also like:
> How to keep mould at bay (without freezing in your home) this winter
> Love Afterpay? We do too. But could it affect your chance of buying a house?
> Saving up: Why it pays to have an emergency fund

How to read a rental ledger

Your property manager records your name, address, payment amount, and date paid in your ledger. The ledger may also include notes on payment type, late fees, and discrepancies.

They must record your rental payments and provide you with a receipt to prove payment.

A copy of this receipt is crucial as it serves as evidence of payment and protects you from potential disputes. Additionally, in case of any overpayment claims, this ledger can be used as proof to disprove those claims.

Why you should ask for a copy

Keeping your ledger up-to-date is really important. Doing so can avoid any payment disputes and show that you’re a financially responsible tenant.

Your rental history can help you secure your dream rental by showcasing your excellent payment record to prospective landlords or property managers.

Present your ledger with your rental application

To increase your chances of getting the rental property you want, provide all the necessary documents with your application.

These include a copy of your photo ID (like your passport or driver’s licence), a recent payslip, and rental references. If you’ve rented before, including your rental ledger is a great way to show your payment history.

If you are a first-time renter without a ledger, don’t worry. You can still prove your ability to pay rent on time by providing alternative payment history, such as a car loan statement or evidence of regular savings deposits.

Being prepared with all necessary documentation will increase your chances of impressing prospective landlords and securing your dream rental property.