Which records should I get from my property manager every year?

The yearly request list

• Twelve monthly owner statements and a year-end summary of income and expenses.
• The security deposit register: each tenant, amount held and where it is held.
• Copies of every vendor invoice and receipt behind an expense line.
• The current signed lease and addenda for each unit, plus any renewals or notices.
• The rent roll as of year end and a list of any unpaid balances.
• Any year-end tax form the manager sends you. Ask your preparer what they need.
• Insurance certificates and inspection records for the year.

This is general information, not legal or tax advice. Your agreement and your state's rules decide what applies; ask a local attorney or your tax preparer about your situation.

Why each record matters

Statements are your income and expense record for tax time. IRS Publication 527 explains how rental income and expenses are reported, and your preparer needs totals that match your records. The deposit register matters because deposits are not income when received but must be accounted for.

The California Department of Real Estate describes trust accounts as having separate records for each beneficiary, plus a reconciliation of those records to the account control record. Asking a manager for the record kept for your property is a reasonable request in any state, even where the rules differ.

A simple yearly routine

1. In January, email the manager your list and a date you need it by.
2. Check that the twelve statements add up to the year-end summary.
3. Compare rent totals with deposits in your own bank if rent reaches your account.
4. Send the package to your tax preparer and file a copy where you can find it.

Example a made-up owner adds twelve monthly "paid to owner" amounts and gets $31,850. The year-end summary says $32,150. She asks the manager, who finds a $300 repair reversal posted in January. The summary is corrected before the package goes to the preparer.

Common gaps in the records

Statements without invoices. A statement tells you the amount; the invoice shows what it was for.

Missing leases. Ask for the signed copy, not a template, and confirm every addendum is included.

No deposit register. You should know who paid what and where it sits.

Records only in the manager's portal. Download a copy each month so your file survives a change of manager.

Forgetting the move-in and move-out condition records, which matter if a deposit is disputed.

Putting it into practice

If a manager is slow to send records, do not wait until tax season. Send a polite reminder with the list and a date, and keep the reply. A manager who hands over a complete file promptly is showing you something about how the work is done the rest of the year.

Store your copies somewhere you control, labeled by property and year. A simple folder with the statements, the deposit register, the leases and the invoices is enough. If you ever change managers, that folder makes the handover much easier because you already know what a complete file looks like.

How DoorKeeping fits

If you keep your own books in DoorKeeping, you get one ledger per property, Schedule E lines and the 1099-NEC report from your books. DoorKeeping is not a property manager and does not change what a manager owes you. It is software for owners who manage their own units, at $2 per unit per month with every feature included. DoorKeeping never holds your money and sends a payment only when you approve it.

Sources

1. IRS Publication 527, Residential Rental Property, read Oct 31, 2026
2. California Department of Real Estate, trust fund records update (October 6, 2026), read Oct 31, 2026

Questions

Does a manager have to give me records?

Your agreement should say what you get and when. Ask for it in writing before you sign.

Are security deposits income?

Not when received, generally, but they must be tracked. See IRS Publication 527 and ask your preparer.

How long should I keep rental records?

Ask your tax preparer. Keep records at least as long as they advise.