Free Property Manager Credit Note Template
Issue credit notes for property management fee corrections, tenant deposit adjustments, and billing reversals. Free PDF, no signup.
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About Property Manager credit notes
Property managers issue credit notes when a management fee is charged on a property that was vacant for part of the billing period, when a maintenance charge is reversed after a contractor dispute, or when a landlord is billed the wrong percentage fee due to a rate error. Monthly fee structures and maintenance pass-throughs create regular billing adjustments.
A credit note for property management references the property address, the original invoice, and the specific fees being adjusted. Landlords often need these documents for their own tax records, particularly when the credit relates to deductible maintenance costs.
When to issue a credit note
Issue a credit note when a management fee is charged on a property that was unoccupied for three weeks but billed as if fully occupied. Use one when a plumbing repair is invoiced as a pass-through but the contractor issues a credit after fixing the original repair under warranty. Issue one when the management fee percentage is applied at the wrong rate because the landlord moved from a standard to a discounted tier. It also applies when a landlord overpays a maintenance reserve that is not expected to be used.
Frequently asked questions
A landlord's property was empty for two weeks mid-month. Do I need to prorate the management fee?
This depends on how your fee is structured. If your contract specifies a fee on collected rent, you should only charge on rent actually collected. If it is a flat monthly management fee, check whether your agreement provides for vacancy periods. If it does not address vacancies, discuss this with the landlord and update the contract going forward.
A contractor fixed a leaking pipe under warranty at no charge, but I had already invoiced the landlord for the original repair. What documents do I need?
Issue a credit note to the landlord for the original repair cost now that the warranty has covered it. Reference the original invoice and the contractor's warranty confirmation. If the warranty covered only part of the cost, credit only the portion that was not charged by the contractor.
Can I issue a credit note for a landlord's maintenance reserve that was never used?
Yes. If a reserve was collected in advance and the maintenance works were not carried out, issue a credit note for the unused reserve amount. Include the property address and the period covered. The landlord will need this to reconcile their accounts and confirm what funds are being returned.