I once heard a news story on the radio about some doctors living in a tiny village in Africa, studying the effects of consuming dirty water. The village had a little well that everybody used. Once the doctors got there, they set up a little station by the well with water purification tablets. After you dropped a tablet in your water, you had to wait a few minutes and then the water would be safe to drink. The doctor being interviewed said that not all of the villagers took advantage of these tablets, even though they were free and available to everybody. “Sometimes I don’t even take the time to use a tablet,” the doctor admitted.
Why would someone not do something that takes less than five minutes, and will save him an immeasurable amount of stress and inconvenience down the line? As a real estate law firm who handles evictions all day every day, our “water tablets” are receipts.
If you are a landlord, you should be keeping track of all payments from your tenant, and providing a receipt for each payment received.
If you are a tenant, you should be keeping track of all payments to your landlord, and asking for a receipt for each payment tendered.
Receipts keep everyone on the same page. If you end up having to evict a tenant for non-payment of rent, and you have kept an accurate ledger, you will have a much easier time evicting your tenant than a landlord who is giving it his best guess, and doesn’t have any documentation to back up his claim.
Don’t be the doctor who isn’t using his own water tablets. Receipts are your friend.