Q: Is the customer my client or their tenants? Or is the job the clients or their tenants?
A: Great Question. As I have answered in a few previous posts, the property owner, your client, will be the Customer. The property will be the Job of the property owner. The unit, if applicable, will be the Job of the property. The tenants will be the Job of the unit (if applicable) or the property. This will simplify property management for multiple owners, properties, units, and tenants.
If the tenant is renting a unit, right-click the unit and select Add Job. If the tenant is renting a property, right-click the property and select Add Job. Enter the tenant’s name. Enter all of the contact information.
The screen below shows how the Customer List should look after adding the tenants. Robin Cruso is renting Unit A at 142 Fun Road, a property owned by GKS Properties. 
I hope this helped you organize your property owners, properties, units, and tenants.
Thank you for this info. What reports would you use to send to the separate owners?
Frank,
It all depends on how your QuickBooks is set up. You could create a report for your Profit & Loss or Balance Sheet by Class. Class is used for segmenting each property’s money received and spend.