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Property Management Invoice Template

Most property management fees never appear on an invoice. Rent arrives in the manager's trust account, the management fee and approved repairs are paid from it, and the owner receives a monthly owner statement and the balance. An invoice is needed when that flow does not cover the bill: the unit was vacant and no rent came in, the owner approved a project larger than the month's rent, the owner pays fees directly under the agreement, or the client is an association or commercial owner whose accounts payable team wants an invoice. This template is laid out for those cases. Each fee names its basis in the management agreement (a percentage of rent collected, a leasing fee, a flat fee), each maintenance line carries the vendor's invoice number and whether it is billed at cost or with the markup the agreement discloses, and the property, unit and period appear on every invoice so the owner can match it to the statement. InvoiceQuickly is not property management or trust accounting software: it does not collect rent, hold funds or produce owner statements. The download is an editable HTML invoice with invoice number, dates, a line-item table and totals. Fill it in your browser and print it or save it as PDF, or type or say what you are billing and InvoiceQuickly drafts an editable invoice for you to check before saving.

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What This Template Includes

  • Owner or ownership entity, and the management agreement date
  • Property address and unit numbers covered
  • Period covered (month or dates)
  • Rent collected in the period, by unit, as the base for a percentage fee
  • Management fee: rate and the amount it applies to
  • Leasing or tenant placement fee: unit, lease start date and basis
  • Maintenance and repairs: vendor, vendor invoice number, unit and date
  • Basis for each repair line: at cost, or the markup or coordination fee the agreement sets
  • Owner approval reference for work above the agreement's spending limit
  • Owner reserve held and any replenishment requested
  • Reference to the owner statement for the same period

How to Create Your Property Management Invoice

  1. 01

    Describe your work

    Type a plain English description of the services you provided, the client, and the amount.

  2. 02

    AI generates your invoice

    InvoiceQuickly's AI drafts the client, line items, dates, and totals for you to review before saving.

  3. 03

    Review, download, and send

    Check every detail, download the PDF, or use Pro to email the PDF directly to your client.

Recommended Payment Terms

Set the order of payment in the management agreement and follow it on every invoice. The usual order is that fees and approved costs are taken from rent collected for that owner and shown on the monthly owner statement, so an invoice asks only for what rent did not cover, or for fees the agreement says the owner pays directly. Give the owner a short due date, because vendors are waiting: net 10 or net 14 is common, and the actual date should be printed ('Due 13 November 2026'). Never pay one owner's repair with money held for another owner while waiting for payment. If the agreement allows the manager to deduct an unpaid invoice from next month's rent, say so in the notes and show the deduction on that month's statement. Attach the vendor invoices for maintenance lines, and quote the owner's approval for anything above the agreement's spending limit.

Need help writing payment terms? Read our guide to invoice payment terms for best practices and templates.

Tax Information

Two separate sets of rules apply. Trust money: rent and security deposits collected for an owner are trust funds, and each state's real estate regulator sets how they are handled. In California, the Department of Real Estate requires trust funds to be deposited immediately upon receipt (Business and Professions Code section 10145), prohibits commingling with the broker's own money (section 10176(e)), and expects a separate columnar record for each beneficiary with monthly reconciliation (Regulations 2831, 2831.1 and 2832). Its Reference Book counts fees earned by the broker and left in the trust account for more than 25 days from the date they were earned as commingling, and says a trust fund discrepancy of any kind is a serious violation. Check your own state's real estate commission before deciding how fees are drawn and invoiced. Tax: whether a management, leasing or coordination fee carries sales or gross receipts tax depends on the state, so check your state revenue department. Security deposits are the tenant's money held in trust, not income to bill. InvoiceQuickly applies one tax percentage per invoice and copies saved tax IDs to new invoice PDFs; add professional licence numbers in notes if required. General information, not legal or tax advice. Last reviewed: 28 October 2026.

Industry context (2026)

Property management invoices sit inside trust account rules, because the manager is handling the owner's money. California's Department of Real Estate is one example of how a state regulator sets those rules. Its licensee advisory of 26 August 2025 on the most common enforcement violations tells brokers to deposit trust funds immediately upon receipt (Business and Professions Code section 10145), never to commingle client funds with their own (section 10176(e)), to keep columnar records for each beneficiary under Regulations 2831 and 2831.1, and to reconcile trust accounts monthly (accessed 28 October 2026). Chapter 21 of the DRE Reference Book adds that broker fees left in the trust account more than 25 days after they were earned, and rents from broker-owned properties deposited there, are examples of commingling, and that a trust balance greater than the total owed to beneficiaries is an overage that may also be commingling (accessed 28 October 2026). Other states set their own rules through their real estate commissions. Fee levels (the management percentage, leasing fee and any markup) are set by each agreement; no official body publishes them, so this page gives none. General information, not legal advice.

Worked example

Worked example (illustrative fees; management and leasing fees are set by each agreement, not by law). A manager looks after a single-family rental for an owner under an agreement that sets a management fee of 8% of rent collected, a leasing fee of 50% of the first month's rent, repairs billed at the vendor's cost plus a 10% coordination fee on jobs over $500, and an owner reserve of $500.00 kept in the trust account. The tenant moved out on Wednesday 30 September 2026. In October no rent was collected, so the October owner statement shows no management fee, and the turnover costs had to be invoiced because the owner's trust balance was only the $500.00 reserve. Invoice PM-0087, dated Friday 30 October, due Friday 13 November (net 14): management fee, October, 8% of $0.00 rent collected, $0.00 (shown so the owner sees it was not charged); move-out cleaning, Bright Clean invoice 2231, at cost, 1 × $350.00; interior paint touch-up, Lopez Painting invoice 0915, at cost, 1 × $1,200.00; coordination fee, 10% of $1,200.00 under section 6 of the agreement, $120.00; re-key front and back doors, Keyline invoice 7710, at cost, 1 × $85.00; leasing fee, new lease signed Thursday 22 October starting 1 November at $2,400.00 a month, 50% of first month's rent, 1 × $1,200.00. Total due $2,955.00; vendor invoices attached; no tax charged, which the manager checked for their state. The November owner statement then works the ordinary way: rent collected $2,400.00, less management fee 8% $192.00, owner distribution $2,208.00, with the $500.00 reserve still held. Two details matter. The manager did not pay the painter with other owners' money while waiting for this invoice, because each owner's trust record must stay in balance. And the $0.00 fee line shows the 8% applies to rent collected: had it been charged on rent due, the owner would have paid $192.00 for a month with no tenant. In InvoiceQuickly the $0.00 line can be entered with a unit price of 0, and the vendor invoice numbers go in each line description.

Common mistakes to avoid

Fee on rent due, not collected

Charging the percentage on scheduled rent during a vacancy or a tenant arrears month overbills the owner if the agreement says rent collected. Show the collected figure.

Billing twice

A fee deducted on the owner statement and also listed on an invoice is a double charge. Reconcile every invoice to the statement for the same period.

Undisclosed markups

Adding a margin to a vendor's bill without an agreement clause, or hiding it in the line price, is a common cause of owner disputes. Bill at cost and show any agreed fee separately.

Fronting costs with other owners' money

Paying one owner's repair from funds held for another while an invoice is outstanding creates a shortage in that owner's trust record. Invoice first, or use that owner's own reserve.

Invoicing the security deposit

A tenant's security deposit is held in trust, not earned by the owner or the manager. Keep it off the invoice and account for it under your state's rules.

Invoicing Tips

  • 1Charge the management percentage on rent collected, not rent due, unless the agreement says otherwise, and show the collected figure per unit. Owners check this line first.
  • 2Give each maintenance line the vendor's name and invoice number and attach the vendor invoice. Owners trust a pass-through they can trace.
  • 3If you add a markup or coordination fee to repairs, take the rate from the agreement and show it as its own line. A markup hidden inside the vendor's price is the fastest way to lose an owner.
  • 4Bill the leasing fee once per lease, naming the unit, the tenant's lease start date and the rent it is based on.
  • 5Quote the owner's approval (date and how it was given) for any job above the agreement's spending limit, so the invoice is not the first time the owner hears of it.
  • 6Reconcile each invoice to the owner statement for the same period. The owner should never be billed on an invoice for a fee already deducted on the statement.

Related Resources

Frequently Asked Questions

Do property managers send invoices to owners?

Often not. Most managers deduct fees and approved costs from rent collected and send a monthly owner statement. An invoice is used when rent does not cover the costs, for example during a vacancy or a large approved repair, or when the agreement says the owner pays certain fees directly.

What is the difference between an owner statement and an invoice?

An owner statement reports the money held for the owner: rent collected, fees and costs paid from it, reserves and the amount distributed. An invoice asks the owner to pay an amount. When rent covers everything, the statement is enough; when it does not, the invoice requests the difference or the directly billed fees.

Is a management fee charged on rent collected or rent due?

Whatever the management agreement says. Many agreements charge a percentage of rent actually collected, so no fee is earned on a vacant unit or unpaid rent. State the basis on the invoice: for example 8% of $2,400.00 collected is $192.00.

Can a property manager mark up maintenance costs?

Only as the management agreement allows and discloses. Bill repairs at the vendor's cost with the vendor invoice attached, and show any agreed markup or coordination fee as a separate line so the owner can see both amounts.

Where does rent money have to be held?

In a trust account, under your state's real estate rules. In California, the Department of Real Estate requires trust funds to be deposited immediately, kept separate from the broker's own money and recorded separately for each owner, with monthly reconciliation. Check your state's real estate commission.

Can I invoice property owners with InvoiceQuickly?

Yes, for the invoice itself. Type or say what you are billing and InvoiceQuickly drafts an editable invoice to check before saving. It does not collect rent, run a trust account or produce owner statements. Free covers 5 invoices, 5 clients and 3 AI drafts in total; Pro is $9 a month for unlimited invoices, email delivery, a client portal and payment links through your own Stripe or PayPal account.