Are property managers allowed to accept cash payments from tenants?

Property managers are indeed allowed to accept cash payments from tenants, but they are required to provide receipts for these transactions. This practice ensures transparency and accountability, protecting both the property manager and the tenant. The receipt serves as proof of payment, which is critical in case disputes arise regarding rent due or payments made. Providing a receipt also helps to maintain accurate financial records, which is essential for effective property management.

Accepting cash payments without any record-keeping can lead to complications, such as misunderstandings about whether rent has been paid, or potential legal issues if there is a disagreement. Therefore, while cash is an acceptable form of payment, proper documentation through receipts is necessary to uphold professional standards and ensure clear communication between the tenants and the property manager.