Security deposit

[Ronnie Sparrow]

Where do you put the tenants deposit? Is it OK to keep in the business account or does it have to be placed in a separate account from the business? Example: we have a business account at Chase with a checking and two savings account. Is it OK to keep the deposits in one of the savings account or does it need to go into a different bank or a totally different account at Chase?

[Michaela G.]

One thing I know about California is that you're supposed to pay interest on the amount, when you return the deposit.