Colorado Rent Receipt

Are landlords required to give receipts in Colorado?

Colorado law requires landlords to provide tenants with a receipt in certain circumstances. Here’s what you need to know:

Cash or money order: If a tenant submits their rent payment in person using cash or a money order, you must provide them with a receipt detailing:

• The amount paid.
• The date of payment.

When tenants pay in cash or by money order but don’t complete the transaction in person, state law requires property owners to send them a receipt upon request within 7 days. It must detail the amount paid, the recipient, and the payment date.

In both cases, you can use a digital receipt unless the tenant requests a paper copy (Colo. Rev. Stat. § 38-12-802).

Check or online payments: Since these records already leave a trail, Colorado law doesn’t require you to send receipts when tenants pay using cash or online payments.

Even if you’re not required by law to send rental payment confirmations, you should still send them every time. We recommend using rent collection software that provides one automatically without you lifting a finger. Digital rental payment receipts help you stay ahead of changing laws while enjoying the benefits of good bookkeeping.

As a best practice, use your Colorado lease agreement to dictate how tenants make their transactions. State law allows you to set your preferred payment type in the lease. Adding a clause to your rental contract can clarify the process for everyone involved.

Colorado Rent Receipt Template

Make it easy to document rental payments with our free Colorado rent receipt template. The printable PDF form includes customizable fields for the:

• Date
• Receipt number
• Tenant name
• Address
• Unit number
• City/state/zip code
• Amount paid
• Late fees
• Payment method
• Balance due
• Period covered
• Landlord’s signature

Download the Colorado rent receipt template or sign up for TurboTenant to start automatically sending receipts.

How to Keep Accurate Records in Colorado

Don’t throw away receipts after you send them. Always keep copies on file in case you need them for filing taxes and tracking late payments. You can also use this documentation to defend yourself in case a dispute occurs or the IRS audits you.

Since the IRS usually audits tax returns with a 3-year lookback period, store each receipt for at least 3–6 years. Since you’ll hold onto these for an extended period, we recommend storing them digitally rather than on paper.

TurboTenant’s property management software allows you to store important documents securely in the cloud so you don’t have to worry about losing files due to misplaced documents, fires, or life events outside of your control. And when you use TurboTenant to collect rent, the software takes care of this process automatically.

Documenting Partial Payments in Colorado

Colorado law doesn’t require property owners to accept incomplete rent payments. However, state law does dictate how landlords handle late fees. Here’s what you need to know:

Late fees: You can’t charge a late fee until the rent is 7 days past due, and the fee amount can’t exceed the greater of $50 or 5% of the past-due rent. Landlords must include all late fee details in the lease agreement. You also can’t charge more than one late fee per rental period (Colo. Rev. Stat. § 38-12-105).

If you choose to accept a portion of a tenant’s monthly rent, add individual line items on your rent receipt for the following:

• Amount paid
• Payment date
• Late fee amount (if applicable)
• Remaining balance 
• Due date 

By accurately documenting the above details, you can avoid disagreements and keep your accounts up to date.

Avoid Rent Receipt Disputes in Colorado

We’ve seen other property owners make these common mistakes when using their rental payment receipts. Keep them in mind so you can avoid making them, too:

• Forgetting to include the payment date
• Missing or inconsistent information about the tenant or property
• Failing to document partial payments and fees
• Not keeping copies for your individual records (and storing them for at least 3–6 years)
• Adding missing funds (such as late fees, utility payments, and security deposits) on the same line instead of itemizing them separately.
• Sending a receipt that doesn’t show a precise total amount
• Using erasable, non-permanent ink
• Providing the receipt too late

Remember, if a tenant pays in cash, give them a receipt immediately. Record an offline payment using TurboTenant so you never have to guess about who’s covered their monthly balance.

Send Receipts Automatically

We hope this article has made you a Colorado rent receipt enthusiast. As discussed, they’re your go-to tool for transparency, better bookkeeping, and legal protection. If you’re ready to start optimizing the way you use them, download our free Colorado rent payment receipt template today.

If you prefer an automatic process, look no further than TurboTenant. As soon as a tenant pays their monthly bill, you’ll get a notification, and the tenant will receive their receipt. Sign up today to get access to automation tools, including automatic late fees, automatic reminders, and autopay.