Agree on the payment workflow
Record the lawful rent, due date, agreed payment method, recipient details, and what information the tenant should include. Do not change a method or add a fee without confirming the lease and provincial rules.
- Keep rent instructions separate from sensitive banking credentials.
- Provide a clear contact path for payment problems.
- Confirm how partial, returned, duplicate, or misdirected payments will be reviewed.
Reconcile every payment
Confirm that funds were actually received, then match the amount and effective date to the tenant, lease, and charge. Leave unmatched or partial items visible for review rather than forcing the ledger to balance.
- Preserve the source notification or payment evidence.
- Use correction entries instead of silently rewriting history.
- Generate a receipt from the confirmed record when required or requested.
Review the ledger monthly
Compare charges, payments, balances, receipts, and unresolved exceptions for every active tenancy. A short monthly review is more reliable than rebuilding a year of rent from an inbox.