Do I need to notarize the statement?

Not usually. Rental Income Statements are financial records and generally do not require notarization. Notarization may be requested by lenders or investors; verify recipient requirements before obtaining a notary.

Can the statement be signed electronically?

Yes. Electronic signatures meet legal enforceability standards under the ESIGN Act (15 U.S.C. ch. 96) and UETA when intent, consent, attribution, and retention are satisfied.

What if a tenant disputes reported income?

Retain rent ledgers, deposit slips, and communication records. Provide supporting documents and correct errors promptly; unresolved disputes may require mediation or legal counsel.

How long should I retain statements?

Keep tax-related statements at least 3 years per IRC §6501(a); healthcare-related records 6 years per 45 CFR §164.530(j). Consult counsel for industry-specific guidance.

What happens if a TIN is missing?

Missing or incorrect taxpayer identification can trigger backup withholding at 24% and IRS reporting complications; collect correct TIN information using a W-9 when required.

Who should sign the statement?

The preparer and an authorized owner or manager should sign. If executed electronically, ensure signer authentication and an audit trail to establish attribution.

Electronic Signature
Templates
Finance
Rental Income Statement

Rental Income Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

RENTAL INCOME STATEMENT

Identification

Owner Name:

Property Address

Statement Period From:

To:

Unit/Identifier:

Reporting Entity

Reporting as: Owner Property Manager Agent

Preparer / Company

Phone:

Email:

Itemized Rental Receipts

Enter each receipt, payment, or adjustment received during the statement period. Amounts should reflect cash received or formally retained security deposit amounts.

Date	Payer / Tenant	Description	Amount	Category

Subtotal of Receipts Security Deposits Held (received this period) Adjustments / Refunds Other Income (pet fees, utilities) Total Rental Income

Payment and Remittance

Funds received during the statement period were handled as follows. Select all that apply and provide instructions when applicable.

Check (mailed) ACH / Electronic Transfer Cash

Remittance Instructions or Bank Reference

Certifications and Representations

The undersigned certifies that the information contained in this Rental Income Statement is complete and accurate to the best of their knowledge. Receipts and amounts reported are limited to cash or equivalent received and do not include accrual-based or non-cash adjustments unless expressly noted. Security deposits reported are funds actually received and retained as of the statement date.

The preparer acknowledges that knowingly submitting false or materially misleading information may subject the preparer to civil liability or other legal remedies under applicable law. This statement is prepared for accounting, reporting, and tax record purposes; the preparer agrees to retain supporting documentation for a minimum of three years and to provide such documentation upon request by the owner or authorized representative.

Certification: I certify under penalty of perjury that the foregoing is true and correct.

Notes / Terms

Signature

Prepared by (Print Name):

Signature:

Date:

What a Rental Income Statement Is and when it’s used

A Rental Income Statement is a financial summary that documents gross rental receipts, deductible expenses, and net rental income for a specific property and time period. Landlords, property managers, and accountants use it to reconcile bank deposits, prepare tax returns, support loan or grant applications, and provide tenants or investors with clear income reporting. The statement typically covers a monthly, quarterly, or annual reporting period and may accompany leases, tax schedules (Schedule E), or borrower financial statements when verifying property cash flow.

Why a clear Rental Income Statement matters

A complete Rental Income Statement provides an auditable record of rent collected, operating expenses, and net income that supports tax compliance, loan underwriting, and internal accounting. It reduces disputes by documenting shared expectations for income and expense allocation.

Who prepares and relies on Rental Income Statements

Typical preparers and recipients vary depending on the property and transaction type.

Individual landlords who manage one or more rental units and need accurate records for Schedule E and state filings.
Property managers and accounting teams producing monthly or annual reports for owners and investors.
Lenders, underwriters, and tax preparers who verify rental cash flow for loans, audits, or returns.

Use a standardized statement to ensure consistent comparisons across properties and reporting periods.

Essential elements that make a Rental Income Statement professional

A professional Rental Income Statement is structured, transparent, and reproducible so third parties can verify numbers quickly and without ambiguity.

Header

Property name, full address, reporting period, and preparer contact information so recipients can identify the asset and reach the preparer for questions.

Gross Income

Detailed rent roll or aggregated rent receipts showing monthly or periodic rent collected, concessions, and other tenant-supplied income like parking or pet fees.

Operating Expenses

Line-item expenses such as repairs, maintenance, insurance, property management fees, utilities, and advertising with clear allocation methods.

Net Operating Income

Calculated NOI (gross income minus operating expenses) and any adjustments for vacancy or reserves, presented before debt service and taxes.

Supporting Notes

Explanatory notes for one-time items, related-party transactions, or accounting methods (cash vs. accrual) to aid reviewers.

Signatures

Preparer and owner signatures with dates and contact details; an electronic signature and audit trail are sufficient under ESIGN and UETA when consent and attribution are present.

Required fields to include on every Rental Income Statement

Tenant / Payer: Full tenant name(s)

Property Address: Street, city, state, ZIP

Reporting Period: Start and end dates

Gross Rent: Total rent collected

Expenses: Summarized deductible costs

Preparer Signature: Name, date, contact

Filling out a Rental Income Statement: step-by-step

Follow these sequential steps to produce an accurate, auditable statement suitable for tax, lending, and internal reporting.

01

Collect receipts: Gather bank deposits, rent ledger entries, and receipts for the period.
02

Populate header: Enter property address, reporting period, and preparer details.
03

Enter income: Record gross rent, late fees, and other income items with dates.
04

List expenses: Record expense categories and attach supporting invoices.

Customizing and completing the statement online

Configure an online template to reduce manual entry and include verification fields for auditability.

Field	Configuration
Pre-filled Header	Auto-fill property and owner fields
Calculated Totals	Use formulas to compute gross and net amounts
Attachment Upload	Require supporting invoices or bank statements
Signer Authentication	Set email, SMS code, or stronger auth

Where to send or file a Rental Income Statement

Routing depends on purpose: tax reporting, lending, owner reporting, or tenant records — follow the recipient’s instructions.

To Owner: Email or portal upload for monthly investor reporting.
To Lender: Provide signed PDF plus bank statements for underwriting.
For Taxes: Retain for Schedule E and provide to your CPA.
To Tenant: Share only if contractually required or by request.

Distribution and eSubmission options

Use delivery channels that preserve the record, provide an audit trail, and meet recipient requirements.

Email (PDF): Simple; ensure signed PDF attached
Secure Portal: Preferred for lender and investor sharing
eSignature Platform: Captures audit trail and signer consent

Preserve the signed copy and audit metadata (timestamps, IP, signer email) so the document can be reproduced and authenticated if needed.

Timing considerations and common deadlines

Be mindful of tax and reporting deadlines to avoid penalties and to ensure statements are available for audits or underwriting.

Annual Tax Reporting:

Keep year-end statements available for Schedule E and tax filings due April 15

Loan Applications:

Provide recent 12 months of statements when requested by lenders

Investor Reporting:

Deliver monthly or quarterly statements per investor agreements

Tenant Requests:

Respond promptly to tenant income verification inquiries

Record Retention:

Retain statements according to tax and legal retention rules

Common mistakes to avoid when preparing a Rental Income Statement

Omitting bank deposits or misposting security deposits as income, which inflates reported revenue and can trigger reconciliation issues.
Mixing personal and property expenses on the statement, which complicates tax deductions and may lead to disallowed expenses.
Failing to attach supporting invoices or rent ledgers, causing delays during lender underwriting or tax examinations.
Using inconsistent reporting periods or date formats, which undermines comparability and can lead to accounting errors.

Risks and penalties for incorrect reporting

Tax Penalties: Incorrect returns risk IRS penalties per IRC §6721

Loan Denial: Misstated income can result in underwriting rejection

Audit Exposure: Unsubstantiated entries increase audit risk

Investor Disputes: Inaccurate statements trigger owner claims

Legal Liability: False statements risk contract or fraud claims

Data Breach: Improper storage risks privacy violations

Comparison: typical eSignature vendor costs for executing signed statements

Vendor pricing and features vary; signNow is listed first per vendor-comparison format used here. Confirm plan details on each vendor site before purchasing.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Frequently asked questions about Rental Income Statements

Answers to common questions about signing, retention, notarization, and legal validity for Rental Income Statements.

Need help? Contact support

Do I need to notarize the statement?
Not usually. Rental Income Statements are financial records and generally do not require notarization. Notarization may be requested by lenders or investors; verify recipient requirements before obtaining a notary.
Can the statement be signed electronically?
Yes. Electronic signatures meet legal enforceability standards under the ESIGN Act (15 U.S.C. ch. 96) and UETA when intent, consent, attribution, and retention are satisfied.
What if a tenant disputes reported income?
Retain rent ledgers, deposit slips, and communication records. Provide supporting documents and correct errors promptly; unresolved disputes may require mediation or legal counsel.
How long should I retain statements?
Keep tax-related statements at least 3 years per IRC §6501(a); healthcare-related records 6 years per 45 CFR §164.530(j). Consult counsel for industry-specific guidance.
What happens if a TIN is missing?
Missing or incorrect taxpayer identification can trigger backup withholding at 24% and IRS reporting complications; collect correct TIN information using a W-9 when required.
Who should sign the statement?
The preparer and an authorized owner or manager should sign. If executed electronically, ensure signer authentication and an audit trail to establish attribution.

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