How to Record Tenant Storage Fee Income
Records the monthly accrual of ancillary income derived from tenant use of on-site storage facilities.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Tenant Receivables | Asset | 450.00 | - |
| Other Operating Income - Storage Fees | Revenue | - | 450.00 |
💡 Accountant's Note
REITs often generate non-rental income from services like storage. This is recorded as other operating income in the period the service is provided.
Practitioner & Systems Framework
💻 ERP Architecture
Usually automated via the property management system (PMS) billing module.
⚠️ Audit Flags
Comparison of storage unit occupancy to recorded revenue.
📄 Required Documentation
Storage lease addendum or monthly storage unit rent roll.
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Discussion & Community Questions
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