Pennsylvania Security Deposits

[Jeff Lehman]

I'm buying my first 2 unit rental this week. A question is come up about the security deposits. The question is, do I need to keep each individual's security deposit separate, in separate accounts? I was talking to the bank, and they have two options. The first option is an umbrella account with individual accounts for each tenant. This option requires an LLC, which I do have.

The second option is a personal account and my understanding is that the tenants security deposits would be commingled. 

Can anybody tell me if commingling is allowed or if they must be separate.

The owner of the property that I'm buying does not have the security deposits in an interest-bearing escrow account. Can anyone venture an educated guess on whether I'll be responsible for the interest for the time that he owned the property?