Rent tracking for landlords

Crestlet raises an invoice for every rent cycle, records each payment against the invoice it settles, and keeps each tenant's history in one place. You can see what has been paid and what is still due without opening a spreadsheet.

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How rent is tracked

Tracking starts from the lease, so nothing has to be entered twice.

  1. The lease sets the rent, the day it falls due and how often it is billed.
  2. When a cycle falls due, Crestlet drafts its invoice from the lease: the rent and any recurring charges, such as parking.
  3. You check the draft and issue it, and the tenant sees it at once.
  4. When the tenant pays, you record the payment against that invoice. The balance updates by itself.

What you can see at a glance

  • Every invoice, by month

    Each tenancy lists its invoices in order, each with its status: draft, issued or paid.

  • What is still owed

    What has been paid against an invoice and what is left on it, without adding up a column.

  • One history per tenant

    The invoices and payments of a tenancy stay together, from the first month to the last.

A month in practice

Say a lease sets the rent at 1,200 a month, due on the 1st, with 50 a month for parking.

  1. When October falls due, you draft its invoice in one step: 1,250, and issue it.
  2. The tenant transfers 1,000 on 2 October. You record it, and the invoice shows 250 still to pay.
  3. They send the rest on the 9th. You record it, and the invoice is paid.
  4. The tenant has seen each step in their portal, so there is nothing to explain.

Your tenant sees the same record

Tenants see every bill and what they have paid in the tenant portal, so a question about the rent starts from the same numbers on both sides.

Questions

Can tenants pay their rent through Crestlet?
No. Crestlet does not collect rent or hold money. Your tenant pays the way you have agreed, by bank transfer, cash or otherwise, and you record the payment against the invoice it settles.
What if a tenant pays part of the rent?
Record the amount that was paid. The invoice shows what has been paid so far and what is left, so a part payment is never mistaken for a full one.
Does it work with rent in any currency?
Yes. Each lease carries its own currency, and every invoice and payment for it is kept in that currency.
Can rent be billed quarterly or yearly?
Yes. A lease bills monthly, quarterly or yearly, on the due day it sets, and each cycle gets its own invoice.
Do I still need a spreadsheet?
Not for the rent. The invoices and the payments against them are the record. Our guide to tracking rent payments shows what that record should hold, with or without software.

Related

Set up your first property today.

Add it, share a unit code, and your tenant can join before the day is out.

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