Banking with Property Manager

[Gary B.]

I am closing soon on my first rental property, I will be using a property manger to manage my property. Property Manager have two option on how to have operating account.

1. To have a trust account with property manager as operating account, property manager will deposit check in my bank accoint once a month minus bills and his percentage.

2.  I add property manager as authorized user to my bank account and property manager will operate though my account. 

Can you please suggest which one you suggest a preferable way?

Best, Gary

[Alpesh Parmar]

@Gary B. I own multiple properties and I have never seen a PM offer # 2 as an option. It's risky for investors and time consuming for PM. Think @ if the PM starts managing over 200 properties, s/he would have to operate 200 separate accounts if each property is owned by different investor.

I wouldn't even go with that PM if he/she is recommending option # 2.