What is an aging report in property management?

An aging report in property management specifically refers to a document that tracks outstanding accounts receivable, particularly focusing on tenants who are late in paying their rent. This report categorizes unpaid rents based on how long they have been overdue, typically breaking them down into intervals such as 30, 60, and 90 days. This allows property managers to quickly see which tenants may require follow-up for late payments and helps in managing cash flow.

The context of the aging report is crucial in the property management field, as it not only assists in collections but also enables managers to identify patterns or trends in late payments among tenants. In doing so, property managers can take informed actions, such as sending reminders or implementing late fees, ultimately enhancing financial management of the property.