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Updated over 6 years ago,
property management access to our checking acct?
We just closed on our first apartment complex. In the past we have done our own management. This 24 unit apartment complex is out of state. We have chosen a property management company we are comfortable with. The property manager would like access to our banking accounts to deposit rent checks and also to pay any maintenance fees such as lawn care or general repairs needed. I'm hesitant to allow access to our banking account even though I trust this person. Can anyone tell me if this is common practice or are there other ways to provide access to funds for management activity?