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Any rent received is just that: payment for the right to live in a rental unit. Advanced rent basically means the tenant has paid X amount of dollars for his rent. If this amount exceeds the month's rent then the extra amount is applied towards future month's rent up to the amount received.
What else can I help you with?
What is unearned rent?
It is the rent which u have received in advance. . . . It is a liability for you. . . .got it. . . . . . !
Journal entry for rent received in advance?
Cash A/C Dr To Rent Received in Advance A/C
How do you book advance rent with current Invoice?
Party A/c Dr. To Adv. Rent Received To Rent Received To Output Service Tax
Can a landlord come to you after 3 years of living there and demand a months rent in advance?
no. not as long as you live in the us.
Is it legal for a landlord to withhold a key from his tenants until everyone has paid the first months payment?
Generally speaking, a tenant does not become such until he has been handed the keys to his dwelling. If the landlord has not received his first month's payment, this is the same as in not receiving the rent, which is payable in advance. Therefore the landlord does have the right to withhold the key.
Is the rent paid for future months a liability?
Yes, rent paid for future months is considered a liability. When a tenant pays rent in advance, it creates an obligation for the landlord to provide housing for that period. This prepayment is recorded as a liability on the landlord's balance sheet until the time period for which the rent was paid has elapsed.
How can I get a discount on rent?
To get a discount on rent, you can try negotiating with your landlord, signing a longer lease term, offering to pay rent in advance, or looking for promotions or specials offered by the property management company.
Received a evitcton notice from landlord is rent still owed?
Depends on the reason for the eviction, and whether you gave a last month's rent deposit.
If I paid my rent on time the landlord claims it is not received and does not offer rent payment receipts what can I do?
In court, the tenant is on the losing end of this argument.The only thing that you can do is secretly record yourself requesting receipts from the landlord for a specific time period and record him refusing to give you the receipt.This is your proof that the landlord collects your rent but that he does no give you receipts.When a judge sees the video or hears the recording your landlord is screwed.Be slick - your landlord is.
Can a landlord harass you for rent when the rent isn't even due?
A landlord cannot legally harass you for rent if your rent is not in arrears.
Can you rent an apartment without a social security number?
Yes you can if you pay up to 6 or 12 montths of rent in advance, or a really good deposit! But you have to check with the landlord first!
My friends landlord lowered their rent for them and then we moved in with them and now their moving away can the landlord raise our rent back up?
If your friends landlord lowered the rent for him/her and then after moving in with him/her, he/she decides to move out, then the landlord will most likely raise the rent again.
