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Updated almost 8 years ago on . Most recent reply

Liz C.'s profile image
Liz C.'s profile image
Liz C.
  • Property Manager
  • from New York, NY
  • Member since Jul 9, 2016
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Liz C.'s profile image
Liz C.'s profile image
Liz C.
  • Property Manager
  • from New York, NY
  • Member since Jul 9, 2016
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Liz C.
  • Property Manager
  • New York, NY
90
Votes |
388
Posts
General Landlording & Rental Properties

Deposit money has to put on special deposit account?

Liz C.
  • Property Manager
  • New York, NY
Posted
Hi everyone , I am just curious to know the deposit money can I just to an LLC business account . Or has to put a separate account that's for deposit only? Do we have to make things so complicated ? Thanks
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Jennifer Jacobs's profile image
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Jennifer Jacobs
  • Real Estate Agent
  • from Villa Rica, Georgia
  • Member since Apr 30, 2017
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Jennifer Jacobs's profile image
Jennifer Jacobs's profile image
Jennifer Jacobs
  • Real Estate Agent
  • from Villa Rica, Georgia
  • Member since Apr 30, 2017
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Jennifer Jacobs
  • Real Estate Agent
  • Villa Rica, GA
28
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38
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Jennifer Jacobs
  • Real Estate Agent
  • Villa Rica, GA
Replied
You'd have to check your local laws on this. In georgia, you are allowed to have it in a "shared" account up to a few properties, but I am also a Realtor so all my rental money has to be in a separate "escrow" account.
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