Small landlords & PMs hub · By James Grokman, CEO, TapeAndFloat · Published October 25, 2026 · Updated October 25, 2026

Owner statements for small property managers

An owner statement is the monthly report a property manager sends each owner: rent collected, other income, expenses paid, the management fee, any reserve held and the net amount due to the owner. Small PMs can build it from one sheet of income and expenses, with a receipt behind every expense.

Free download: Owner statement template (Excel). Log properties and owners, each payment received and each bill paid; the Statements sheet adds up each property's month: rent collected, other income, expenses, management fee (an editable % setting), reserve held and net due to the owner. It flags expenses missing a receipt, uncategorized expenses, rows for a property not on your list and statements with a negative balance. No email required.

1. What goes on an owner statement

• Period and property: the month, the property and unit, and the owner's name.
• Rent collected: what actually came in this month, not what was due.
• Other income: late fees, pet fees, laundry, or anything else your management agreement says goes to the owner.
• Expenses: every repair, service and bill paid for the property, each with a vendor, category, date and receipt.
• Management fee: the % or flat fee from your management agreement.
• Reserve held: any amount you keep back for repairs, if your agreement provides for one.
• Net due to owner: what you pay out, and the date you paid it.

2. The math, in one line

Net due to owner = rent collected + other income - expenses - management fee - reserve held

Example (illustrative numbers only): a property collects $1,000 in rent and $50 in other income, has a $150 repair, a fee of 10% of rent ($100) and a $200 reserve. Net due is $1,000 + $50 - $150 - $100 - $200 = $600. Use the fee, reserve and rules in your own management agreement; these numbers are only there to show the math.

3. Log money in and out once, as it happens

Keep two simple lists for all properties: income (month, property, unit, rent or other, amount, date received) and expenses (month, property, vendor, category, amount, date paid, receipt on file). Use the same property name on every row. At month end the statement is a sum by property and month, not a scramble through bank feeds and texts. For rent tracking, see rent collection and late fees for small landlords.

4. A receipt behind every expense

Owners ask about expenses more than anything else. Save the invoice or receipt with each expense row and mark it as on file. If a bill came as a photo or a text, save that too. Before a statement goes out, check that every expense has a receipt and a category; anything uncategorized gets fixed first. Vendor invoices are covered in vendor insurance certificates and invoices.

5. Categories owners understand

Pick a short list and use it every month: repairs, maintenance, make-ready, utilities, landscaping, cleaning, supplies, insurance, taxes, HOA, advertising, other. Consistent categories let an owner compare months and give their accountant a clean year-end summary. Turn costs belong under make-ready; see tracking make-ready and days vacant.

6. When the balance is negative

Some months a big repair costs more than the rent collected. The statement should show the negative net clearly, and your management agreement should say what happens next: the reserve covers it, the owner sends funds, or it carries to next month. Tell the owner before the statement arrives, with the receipt attached.

7. A month-end routine

1. Check every rent payment for the month is logged.
2. Check every bill paid is logged with a category and a receipt.
3. Review each property's statement: flags first, then the net due.
4. Send each owner their statement with receipts attached, then pay out the net due and log the date.

Rules on handling owner funds, trust or escrow accounts, and property management licensing vary by state. This is general information about running an office, not legal, tax or accounting advice: check your state's rules and talk with your accountant about how you hold and pay out owner money.

Where an assistant helps

Receipts, invoices and payment notices arrive by email, text and photo. During the pilot, TapeAndFloat sets this up one piece at a time: it reads what you forward, logs each item against the right property in your own Google Sheet and drafts each owner's monthly statement from the receipts. You approve the statement before anything goes out, and a real person reviews everything.

Free 60-day pilot: forward your job emails to the assistant, keep working in your own Sheet, and we flag what is slipping. During the pilot we set it up one piece at a time and a real person reviews everything. No new app, no card. Request a pilot spot.

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• Software for small landlords in 2027: a checklist
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• Preventive maintenance calendar for small landlords
• Rental bookkeeping per unit for small landlords
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• W-9s and 1099s for landlords who pay vendors
• Move-in and move-out inspections with dated photos
• Insurance, property tax and HOA due dates for landlords
• After-hours maintenance requests: emergency or next day
• Utility transfers at move-in and move-out for landlords
• Lease violation and notice log for small landlords

Frequently asked questions

What is an owner statement?

A monthly report a property manager sends each owner showing rent collected, other income, expenses paid, the management fee, any reserve held and the net amount due to the owner for that period.

How do I calculate the net due to the owner?

Net due = rent collected + other income - expenses - management fee - reserve held. Use the fee and reserve terms in your management agreement.

Do I need receipts for every expense on an owner statement?

Keeping a receipt or invoice behind every expense is good practice and answers most owner questions before they are asked. What records you must keep depends on your state and your agreement; check with your state's rules and your accountant.

Do I need property management software to send owner statements?

No. A spreadsheet with income, expenses and one statement row per property per month works if someone keeps it current; logging receipts and drafting the statements is what TapeAndFloat automates.