Why landlords and other rental professionals should send beautiful invoices
Whether you rent apartments, commercial spaces, or equipment – your clients look to you to provide a positive experience and excellent service. Each renter is different, so you need clear, organized invoices that explain exactly what you are charging for, as well as the advantage of working with you.
After all, your invoices reflect your professionalism and attention to detail.
They add to your reputation as a trusted and reliable landlord who provides top-notch living and working spaces – so your tenants will continue to engage with you, as well as refer you to family and friends.
Once you've downloaded your free invoice template, you'll need to customize it to fit your specific business. Here are the 10 key things to include on your invoice:
- Title and Description: Name the project and briefly describe what type of work your client is being invoiced for.
- Company Details: Add your company name, address, phone number, and logo to the top-right corner.
- Customer Details: Under "Bill To", add your customer's name, address, and contact information.
- Invoice Number: Include a unique invoice number to help you track down this invoice in the future. You can format this based on sequence and customer. For example, if you're sending your very first customer their first invoice, the invoice number could be 001-001.
- Dates: Include the date when your invoice has been issued and the date when payment is due.
- Line Item: Add individual line items for each unique good or service you provided. For each line item, include a brief description, quantity, individual unit price, and total price.
- Subtotal: Add up the subtotal of your goods or services, before tax has been applied.
- Tax: Indicate the tax rate applied to the subtotal. This is legally required to provide on invoices, and your rate may differ depending on where you run your business.
- Total: Outline the total amount due from the customer, after tax.
- Notes: Include any additional info your customer should know, including terms of service and payment terms (for example, payments are due 30 days after the invoice has been issued).
- Browse through our selection of elegantly designed rent invoice templates. Select the one in the design and color you like, and download the template in the format you prefer, such as Word, Excel, PDF, Google Docs, or Google Sheets. It’s free!
- Add your business name and contact information. If you specialize in an area, such as holiday home rentals, make sure you mention it here where people will notice
- If you have a logo and/or website, insert it here, along with any other professional-looking graphics you desire
- Insert the name of your tenant or renter and their up-to-date contact information
- Add on a unique invoice number
- Include the date of the invoice, and the dates the rental payment covers, as well as the payment due date
- List the rental fee, in addition to other services you charge for, such as utilities and access to Internet or cable TV
- Add or remove lines to customize the invoice format to include late fees or to describe any other pertinent policies. If this is the first rental invoice, or if it is for renting equipment, you can add a line here for the damage deposit
- If you are including a discounted rate for a long-time tenant, add a line explaining the discount so your tenant understands the special rate they are receiving
- Calculate the total fee, including applicable tax, and enter the total at the bottom of the invoice
- Include your payment terms, including the methods of payment you accept
- It’s always nice to add a personal line at the end, especially if this is a valued tenant. Thank them for their confidence in you and tell them how much you appreciate their loyalty.
- Save the invoice – and give a copy to your tenant!
When is the right time to send a rental invoice?
If you are a landlord, it’s a good idea to send the invoice a few weeks before the rent is due. This gives your tenant enough notice to send in their payment.
If this is a short-term rental, or an event space, or equipment rental, you could ask for the full or partial payment up-front, or for a damage deposit to cover any potential costs you small business might experience.
Handy invoicing tips for landlords or rental professionals
Detail, details, and more details
You want your rental invoice to be clear and easy-to-read, but don’t be afraid to put in details where needed. You want your tenants to understand exactly what goes into making their apartment comfortable and enjoyable.
Always include a ‘payment due’ date
Whether you are asking for first and last month’s rent, or for payment in advance for renting out an event space or piece of equipment, always clearly indicate when you expect payment without sounding too aggressive. You have costs as a landlord or rental professional, so you need to keep the income streaming in on a regular schedule.
Don’t be shy about following up
If a rent payment is late, follow up immediately. Be friendly and polite and your tenants should appreciate the reminder.
Add to your accepted methods of payment
Let your tenants know the methods of payments you accept ahead of time so payment arrangements won’t get in the way of you receiving the rent. Everyone expects flexibility in how they pay for goods and services these days, and rent should be no exception. Add electronic options such as e-Transfers and online methods to the types of payment you accept.