Are you required to have Owner's (Lessor's) Name on the Receipt?

If you are managing a property as the PM and you give the tenant a receipt after they have paid rent.

Are you required by law (if so which act?) to have Lessor (property owner or landlord's name) on the receipt?

It seems weird because owner might not want the tenant to know who they are. That's why they have appointed a PM to look after it so there is a barrier between themselves and the tenant. So their fragile selves are psychologically and physically shielded well away from the menacing tenants.

If owners had a choice do you think they prefer not to show it or don’t care or they don’t have a say because the law is the law?

 

The landlord has to have their full name on the lease anyway, so no point trying to be coy on the receipts.

 

They have tenancy agreement (if you have any) to see your fragile self's name

 

Oh ok.

Does your receipts have their (landlord's name) full name on it?

Is it a requirement of the law?

 

We always issue invoices with landlord name even if they are reimbursed by tenant.

Only when tenant has asked for a service ie cleaning it's in their name

It's not usually full name.,

Ie Dr. X. Ioannou

Agents have authority to organise repairs and maintenance for landlords that is why invoices are in landlords name.

 

I mean like for example:

Full name is: Ms Mary Sanchez

If the receipt has:
Lessor's name: Ms M. Sanchez (is this legal receipt?)
Lessor's name: Ms Sanchez (is this legal receipt?)
Lessor's name: M.S (is this legal receipt?)
Lessor's name: Mary (is this legal receipt?)

 

Could it be a business name or entity?

 

In WA at least, the name of the lessor isn't one of the things required on the rent receipt. Might be similar in other states.

Its probably good practice though. Trying to 'hide' your name seems ridiculous to me.

 

First 2 are legal receipts

 

In NSW: Refer to S36 Residential Tenancies Act

"rent receipt" is a receipt that contains the following matters:
(a) the name of the person who receives the rent or on whose behalf the rent is received,
(b) the name of the person paying the rent or on whose behalf the rent is paid,
(c) the address of the residential premises for which the rent is paid,
(d) the period for which the rent is paid and the date up to which the rent is paid,
(e) the date on which the rent is paid,
(f) the amount of rent paid.

The agent/owner/manager is obliged to issue a complying receipt if paid in cash/cheque but not by EFT

It will be different in every state.

 

s48 of SA's version of the Residential Tenancies Act says we have to provide tenants the owners full name and postal address (can be an email).

It does appear on the rent receipts I do. It'd very rarely appear on invoices as they'd be sent c/o DT PM.

 

Ok thanks. I have one last final question.

When you have multiple owners for one property, but they don't share the same surname (last name) how do you display their names on the receipt? How do you enter the data as first name and surname into the fields?

Do you use two ampersands &?
e.g.
First name: Alex & Rachael Surname: Sanchez & Taylor

If it's a couple that share the same surname do you use one ampersands between the given names?
e.g. First name: Jack & Jill Surname: Kim

 

The parents must have put a lot of thought into those names,i only use one name on the receipt but there are 2 names on every title,or if you run under a abn number sole trader just use a business name,landslide investments works for me..

 

Sometimes when people marry the female has to adopt the surname of the male person.

If you only put one is that legal?

What do you mean title do you mean annual or monthly statements to the owner?

 

By title i mean the reg names that are on the title,ownership of the property,
plus i just use one name on the rents receipts ,it all get balanced at Tax time,never had a problem..imho..

 

Ok Thanks for sharing.

Does everyone else just put one person out of the two? or two people?

 

They generally just get what they're given.
Only matters at tax time I guess.

 

You can do a lot with a person's name. Using RPdata they can search where the person lives.

They can bypass you and contact the owners directly and offer to split your commission and go halvsies and ask the owner to self-manage?

If I lived in WA I wouldn't display the owner's name. Coz it's your advantage. Why lose an advantage when you can keep it?

 

Because your tenants have your name anyway - through the actual contract.

No idea what you're talking about regarding "splitting commission".

Its not a real advantage, and I imagine it makes you look slightly dodgier in the court's/tribunal's eyes if it ever came up as an issue there.

As far as I know, you can't use RPdata to look up where someone lives - just whether they are on the title, which is public information anyway.

And in general terms I think its ridiculous to try and hide from a party you have an ongoing contractual relationship with.

 

Not a massive saving, I wouldn't self manage. But I could see some benefit in bypassing agents and going straight to the owner asking if they want to sell.