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Updated almost 2 years ago,

User Stats

1,250
Posts
214
Votes
Mary Jay
  • Glendale, AZ
214
Votes |
1,250
Posts

Is it ok to pay mortgages from the property management bank account?

Mary Jay
  • Glendale, AZ
Posted

Hi guys,

I have a property management company that has a separate bank account and all of my tenants deposit the money into this account. Lets call it "Mary's Property Management LLC"

Is it ok to pay mortgages from the account where the tenants deposit their rent?

Is it going to be mixing finances and piercing a corporate veil?

(Some of my properties are in separate LLCs, some in my personal name but all of my properties are managed by an "Mary's Property Management LLC")

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