A rental ledger (or tenant ledger) that shows you paid your rent on time is one of the more valuable things you can have at the end of your tenancy.
What is a rental ledger?
A ledger used to keep track of your rent payments and is a useful form of documentation if a tenancy matter ever needs to go before a court.
In Australia, property managers and many landlords will use rental management software to keep a record of tenancy history.
As a tenant, you may ask for a copy of your rental ledger for reference.
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How to read a rental ledger
Your ledger provides some space where a property manager or landlord will record important information about a payment you’ve made. This will typically include your name, your address, the amount paid and the date.
Your property manager or landlord may note the type of payment made, whether you paid the rent late or if there were problems with the amount paid.
Your property manager or landlord will record your rental payments in the ledger and provide you with a receipt. This is protection for both parties (you and the property owner).
Hot tip: You should keep a copy of this receipt because it proves that your rent has been paid. Your landlord could also use this ledger to disprove a claim that you were double charged.
Why you should ask for a copy of your rental ledger
It’s a good idea to keep an updated copy of your ledger. It can provide you with a record in the event there’s a dispute about your rental payments.
When you apply for a new property, a rental ledger is one of the most valuable documents you can have. When you apply, present your ledger to a prospective property manager/landlord to show your good rental payment record.
Present your ledger with your rental application
When you submit your rental property application, it’s important to have all the requested and necessary supporting documentation.
Be prepared by including a photocopy of your photo identification (your passport or driver’s licence, for example), a copy of a recent payslip, rental references, and – if you’ve rented properties before – your rental ledger.
If you’re a first-time renter, look for another form of payment history that will help to demonstrate your ability to pay the rent on time. This could be a car loan statement or a savings account with regular amounts of money drawn.