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Updated about 2 years ago, 11/12/2022

User Stats

231
Posts
188
Votes
Thomas O'Donnell
  • Rental Property Investor
  • Columbus, OH
188
Votes |
231
Posts

Setting up a Checking/Savings Account for Rental

Thomas O'Donnell
  • Rental Property Investor
  • Columbus, OH
Posted

I am looking to set up an account at a bank different than my personal one for rental property expenses/income and savings. However most places are saying I need an LLC In order to use the accounts for a rental property. Is there a way around this to have separate accounts for your property without having to create an LLC? I figure since it would be a "business account" than an LLC is needed. However I wasn't planning on setting up an LLC until I had a few properties under my belt. Any advice?

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