Ask Property Managers For These 3 Reports Every Month

Dustin Edwards • March 7, 2025

Like any business, it's important to be informed about your rental property’s financial health. Property managers should be able to provide landlords with several specific reports every month. Though, some reports are more significant.

Below are the three reports you should ask your property managers for, every month.



Rent Collection and Income Report

As one of the most critical monthly reports, landlords should request rent collection and income reports. It provides a clear overview of which tenants have paid, and more importantly, who is late on rent and who may have any outstanding balances owed. Without access to this information, landlords with an extensive portfolio may unknowingly experience financial shortfalls, especially if multiple tenants fall behind on their rent. A good property manager should also be able to point out trends within the report. Using this information, you can then determine if you want to assist them if they’re otherwise high quality tenants, or opt to not renew their lease.


Aside from tracking payments, this report should include details on any fees accrued by tenants, such as late fees, bounced checks, or if partial payment was made. For landlords relying on rental income to cover for mortgage payments, being aware of potential income setbacks can prevent financial stress and keep your investment property running efficiently.


Expense Report

Like many businesses, investment properties will have expenses. While tracking rental income is important, it's equally important to keep track of your rental property’s expenses. An expense report should provide a detailed breakdown of any costs related to the property. This should include costs for routine maintenance, vacancy preparation, emergency repairs, and more. A property that is well maintained should have predictable expenses, meaning any spike in costs should be closely examined. 


A comprehensive expense report can also help landlords budget for future investments, upgrading the rental property. As well as allowing you to compare monthly expenses over time to discover new trends. As an example, seeing a spike in plumbing repairs or blockages can be the result of roots growing in the sewage drain, or older buildings, it can be a sign that the plumbing needs to be replaced. If not looked into, it may result in an expensive emergency repair and thousands of dollars in damages.


Occupancy/Vacancy Report

Having a high occupancy rate is the best way to maintain a steady rental income. This makes the occupancy/vacancy report a crucial document for landlords. This report details which units or homes are currently occupied, which lease agreements are expiring soon, and what, if any units are vacant. Without this information, landlords risk being caught off guard if a tenant moves out unexpectedly, or new leases being delayed and not signed on time.


Additionally, this report is especially valuable in assessing your property manager’s effectiveness. If units are vacant for extended periods, it may be the result of poor
marketing, rent assessment or lack of proactive tenant retention strategies. By monitoring this report closely, it can not only help you stay afloat for unforeseen financial issues, it can help you understand if your property management company is right for you.


While a good property manager should provide you with more than just these three reports, these help landlords stay prepared, maintain cash flow, control expenses, and reduce overall maintenance. If you’re looking to be better informed about your investment property or you need help managing your Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our
Owner Application online.

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These may include late or missed rent payments , lease violations, or property damage. Additional risks include neighbor complaints and costly eviction proceedings. Replacing a problematic tenant can be expensive and time-consuming. Between lost rent, repairs, and vacancy periods , a single bad tenant placement can cost thousands of dollars. Professional rental property management prioritizes careful screening because prevention is far easier than resolving problems later. The Tenant Application Process The screening process begins with a rental application. A thorough application collects information needed to evaluate whether an applicant meets the property's rental criteria . Applications typically request: Personal identification information Employment and income details Rental history References from previous landlords Authorization for credit and background checks Property managers review this information to ensure the applicant meets established qualification standards. Consistency is critical; property management companies in Long Beach must evaluate applicants using the same criteria to remain compliant with fair housing laws. Credit History Evaluation Credit history is one of the most common factors considered during tenant screening because it reflects financial reliability. A credit report provides insight into an applicant's behavior over time. This includes payment history, outstanding debts, and collections accounts. It also shows credit utilization, which helps assess overall risk. While a credit score alone does not determine whether someone will be a good tenant, it helps identify patterns of financial responsibility. Professional Long Beach property management services evaluate credit reports carefully while also considering income stability and rental history. Some applicants with lower credit scores may still qualify if they demonstrate strong income and a reliable rental record. Income Verification and Affordability One of the most important indicators of whether a tenant can consistently pay rent is income stability. Property managers verify income to ensure that applicants can reasonably afford the monthly rent. A common guideline is that tenants should earn at least two-and-a-half to three times the monthly rent in gross income. Income verification may include reviewing: Recent pay stubs Employment verification Bank statements Tax returns for self-employed applicants This step helps ensure the tenant's financial situation supports consistent rent payments. Professional property management uses income verification to reduce the risk of late rent or financial hardship. Rental History and Previous Landlord References Past rental behavior is often one of the best indicators of future tenant behavior. Property managers typically contact previous landlords to verify information such as: Payment history Lease compliance Property condition upon move-out Whether the landlord would rent to the tenant again A strong rental history suggests the applicant understands tenant responsibilities and has demonstrated reliability in the past. Experienced property managers in Long Beach California pay close attention to rental history because it can reveal patterns that credit reports alone may not show. Background Screening and Compliance Background screening may also be part of the tenant evaluation process. This can include criminal history checks conducted in compliance with fair housing regulations. It is important that background screening is performed consistently and in accordance with local and state laws. California and many cities have regulations governing how criminal records can be considered in rental decisions. Professional property management companies in Long Beach stay current on these regulations to ensure that screening practices remain compliant. This protects property owners from potential legal risks related to discriminatory screening practices. Establishing Clear Rental Criteria Before screening applicants, property managers establish clear rental criteria. These criteria outline the minimum standards applicants must meet to qualify for the property. Typical criteria may address: Minimum income requirements Credit history expectations Rental history standards Occupancy limits By establishing criteria in advance, property managers ensure that all applicants are evaluated fairly and consistently. Clear criteria also help set expectations for applicants and streamline the approval process. The Importance of Fair Housing Compliance Tenant screening must always comply with federal, state, and local fair housing laws . 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