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A Rent Receipt is a document showing that payment for rentals have been made by a tenant to a landlord. A Rent Receipt serves as documentation that payments whether full or partial have been made to the landlord or on his behalf providing them means to monitor payments to see if they have been paid on time or late.
The Rent Receipt also shows the amount of and manner by which the payments were made whether through cash, check, or any other methods of payment.
How to use this document?
The Rent Receipt includes important information concerning the transaction or payment of the rentals. The following are the information that may be included:
After completing the details of the document, copies must be printed for each party and all of which must be signed by the person issuing the same. After signing, a copy must be kept by each party for their own records.
The Civil Code of the Philippines governs laws on contracts, obligations, and leases. Additionally, Republic Act No. 9653 (the "Rent Control Act") as as extended and amended by the National Human Settlements Board Resolution No. 2021-02, governs lease contracts that fall under the following conditions:
1. The property is located in the National Capital Region or highly urbanized cities and the total monthly rent ranges from One Peso (P1.00) to Ten Thousand Pesos (P10,000.00)
2. The property is located in other areas and the monthly rent ranges from One Peso (P1.00) to Five Thousand Pesos (P5,000.00).
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