Accounts with tenants are usually kept in a loose leaf ledger. There is a master sheet on which is written as a heading the location of the building. There will be columns in which are listed first, the floor, apartment, office, or other portion of the building rented separately, then opposite these the names of the tenants, the monthly rents, and the particulars of the lease. Inserted in the binder will be narrow leaves headed with the months, several months on a page, and which will show the debit to the tenant for the month, the payment credited and the balance, if any, carried over. The account with the tenant is read across and by the insertion of additional narrow leaves the necessity of re-writing the master sheet is avoided.

The account with the owner is simply a debit and credit ledger account. He is credited for all rent collected and expenses refunded. He is debited with the various expenditures made for him and with the amount of the agent's commission. An abstract of the account with vouchers and a check for the balance is regularly sent him, usually each month.