Is it OK to use personal checking account to manage rental income?

[Jason Sung]

Hi BP community, I am trying to implement Profit First method, which suggests to open multiple accounts; tax account, operating cost account, profit account etc. 

I cannot find a bank that allows opening multiple checking/saving account with no monthly fee and no minimum requirements. 

I found Capital One has such account options, at least or personal banking. Not sure if they have similar options for LLC.

What do you think about using personal back accounts to manage rental portfolio? Is it a bad idea? 

[Carini Rochester]

A rental account separate from your personal account makes sense. A separate savings account for the security deposit is important. My banker sets my accounts up as commercial accounts. Says that is what the law requires since the account is not for my personal use (ie groceries, gas, etc.) But the name on the account and printed on the checks is just my name (or my LLC, as the case may be.)