Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

4
Posts
0
Votes
Kia Zhu
0
Votes |
4
Posts

Deposit and rent in the same bank account?

Kia Zhu
Posted

My property is in NJ. Per the bank's request, I need to ask tenants to fill in a W-9, so I can put their security deposit in an interest bearing security deposit account.

The tenant wouldn't fill one, so I put her security deposit in the same account my tenant deposit their rent.

This tenant broke the lease, and left 8 months prior to her lease ends (although she gave 30 days notice). I gave her the remainder of her security deposit (I was able to find a tenant after she moved out and only deducted half of April from her security deposit since the new tenant moved in the middle of the month).

Now she is not satisfied with returned deposit and requests proof that her security deposit was not commingled with personal. I am not sure If I did it ok here. How do you guys handle this kind of matter?

Loading replies...