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Updated 11 months ago on . Most recent reply

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Tom Server
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116
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security deposits for triplex.. how many saving accounts are needed?

Tom Server
Posted

If i have a triplex and receive the tenants security deposits.. do i need to open 3 separate interest accounts with the tenants information?  Or do I  open any saving account with all 3 units ?

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Evan Polaski
#3 Rehabbing & House Flipping Contributor
  • Cincinnati, OH
3,433
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Evan Polaski
#3 Rehabbing & House Flipping Contributor
  • Cincinnati, OH
Replied

@Tom Server, as JD noted, in Ohio, I put them in my one and only account that I have for my properties.  That being said, like most things with being a landlord, if you are a decent person treat your tenants like people, remain communicative and respectful, make necessary repairs, it is highly unlikely you will ever get sued or anyone will ever question if you did everything by the book.  

  • Evan Polaski
  • [email protected]
  • 513-638-9799
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