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Updated about 6 years ago on . Most recent reply

Sean Harrison's profile image
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Sean Harrison
  • from San Diego, CA
  • Member since May 9, 2018
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Sean Harrison's profile image
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Sean Harrison
  • from San Diego, CA
  • Member since May 9, 2018
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Sean Harrison
  • San Diego, CA
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General Landlording & Rental Properties

Cleveland Ohio, Deposit account

Sean Harrison
  • San Diego, CA
Posted

I have been reading a bunch of different things online, and i feel like i'm getting mixed answers. Do you have to hold the renters deposit in a non interest account in cleveland ohio? I know we do in CA. and if so, i'm guessing i can just set that up with my current bank.

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Jill F.'s profile image
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Jill F.
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  • from Akron, Ohio
  • Member since Jun 14, 2016
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Jill F.'s profile image
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Jill F.
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  • from Akron, Ohio
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Jill F.
  • Investor
  • Akron, OH
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Jill F.
  • Investor
  • Akron, OH
Replied

A special deposit account is not required in Ohio. In fact, when we buy occupied rentals we usually just get a credit on the sale price for the deposits held.

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