Far too many renters neglect the rent receipt and trust their landlords. However, by not asking for a rent receipt, renters open themselves up to a variety of problems that could be easily solved by that little slip of paper.
In some states, rent is tax deductible.
Some states enable you to claim your rent or a portion of your rent as a housing expense, and deduct it on your taxes. If you want to claim your rent on your taxes, you should have copies of rent receipts to prove that you have paid rent. Anything you claim on your taxes should be backed up by physical documentation, so having rent receipts helps to substantiate your claims of paying rent in the event that you're ever audited.
Keep your rent receipt to prove you've been paying your rent.
Sometimes landlords do crazy things. If your landlord wants to evict you for any reason, the easiest way for him to evict you is to say that you haven't been paying your rent. If you pay with a check, many courts accept canceled checks as proof that you've paid rent. However, if you pay with cash or a money order, you need a rent receipt to prove that you've been paying your rent. If you can prove you've been paying, your landlord must stop the eviction process or come up with another reason to get you out.
Having rent receipts can help resolve disputes.
If you get into a dispute with your landlord, one of the easiest things for a landlord to hold against you is non-payment of rent. If you ask for a rent receipt every month, landlords know they can't accuse you of non-payment because you have documentation to prove that you've paid. That means the landlord must find another reason to prolong the dispute or simply resolve it, saving you time and the headache of consulting a lawyer.
Rent receipts can help document a history of repair issues.
If you live in a state that allows you to withhold a portion of rent in the event that your landlord fails to complete repairs, having rent receipts can help you document a history of your repair issues. If a landlord ignores your repair request for months, and you withhold rent that entire time, your rent receipts will reflect the lower rent that you've paid while you're withholding. This means you can prove how long a repair is neglected and how long you've been withholding rent, all by virtue of a simple rent receipt.
A rent receipt can help with financial planning.
If you get into financial trouble or simply want to consult with a financial planner, a rent receipt can help you establish your household expenses. In some cases, such as a bankruptcy or an attempt to negotiate a debt, creditors or courts ask for documentation showing expenses to prove that you cannot afford the debt. Rent is typically a large expense, so by documenting your rent payments, you can help establish your financial status for the purpose of negotiating debt.
 | To have the best experience, a first-time renter must understand the terms of the rental contract. Also, no matter how little you might think your belongings are worth, it's worth the small monthly premium to have them covered by renters insurance. |
 | Renters' legal rights vary from state to state, but all renters have some basic legal rights in common. Do you know your basic renters' legal rights? |
If you are thinking of getting an apartment or renting a house, there are no doubt some questions that you will want to have answered before you make your decision. Deciding on a place to rent takes a lot of consideration. |
Whether it's an apartment, a town house, mobile home, or a house, renters have rights. Whether rent is paid weekly, monthly, or by the terms of a lease, both landlords and renters have responsibilities as well as rights. |
California Student Public Interest Research Group (CALPRG) is a college organization interested in college consumer problems. One of their concerns is Renters' Rights. This active college organization, among many of their other interests, is devoted to making sure that renters will have a good relationship with their landlords. |
