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A rent receipt is a document that acknowledges a tenant's payment of rent, serving as proof of payment for both parties. It is essential for landlords to have an effective rent payment process to avoid non-payment issues. Rent receipts help maintain a paper trail, which is crucial for documenting payments, including partial and late ones. They also provide support for landlords during income tax returns. Understanding what information to include on a rent receipt is important for both landlords and tenants to ensure clarity and organization in rental transactions.
