Keeping Your Rental Paperwork Digital, and Findable
The original version of this post was written for a US audience. We rewrote it for Ontario, kept only facts we could source, and linked each one. This is general information, not legal or tax advice.
The test of a filing system is simple: can you find the signed lease, the move-in photos or last March's furnace receipt in under a minute? Here's a setup that passes.
Keep documents with what they're about
File each document against the property, unit or tenant it belongs to, not in one big folder. The lease goes with the tenancy, the furnace invoice with the expense, the notice with the logbook entry that records when and how you gave it.
What to keep
- Leases and any signed changes.
- Move-in and move-out inspection notes and dated photos.
- Notices you give or receive, with how and when they were delivered.
- Receipts and invoices for every expense.
- Insurance policies and correspondence with your insurer.
How long to keep it
For tax purposes, the CRA says you generally must keep your records for six years from the end of the tax year they relate to. (Source) For tenancy documents, keep them at least for the length of the tenancy and some time after. How long exactly is to verify with a lawyer or paralegal.
Scan as you go
Photograph receipts and paper notices on the day, and attach them where they belong. A clear phone photo is usually enough, as long as you can read it.
Protect it
- Use a service with backups, and a strong, unique password.
- Don't store tenants' personal information anywhere you wouldn't want it found.
- Delete what you no longer need once the retention period has passed.