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Updated almost 6 years ago on . Most recent reply

Yogesh Bhadane's profile image
Yogesh Bhadane's profile image
Yogesh Bhadane
  • Rental Property Investor
  • from Fairfield, CA
  • Member since Feb 9, 2019
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Yogesh Bhadane's profile image
Yogesh Bhadane's profile image
Yogesh Bhadane
  • Rental Property Investor
  • from Fairfield, CA
  • Member since Feb 9, 2019
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Yogesh Bhadane
  • Rental Property Investor
  • Fairfield, CA
8
Votes |
54
Posts
General Landlording & Rental Properties

Rental property deposit

Yogesh Bhadane
  • Rental Property Investor
  • Fairfield, CA
Posted

Is it customary to have the property management company to keep the rental property deposit and earn interest on it?

  • Yogesh Bhadane
    • 0 Votes
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    Tracy Streich's profile image
    Tracy Streich's profile image
    Tracy Streich
    • Real Estate Broker
    • from Tulsa- OKC Oklahoma
    • Member since Jul 4, 2017
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    Tracy Streich's profile image
    Tracy Streich's profile image
    Tracy Streich
    • Real Estate Broker
    • from Tulsa- OKC Oklahoma
    • Member since Jul 4, 2017
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    Tracy Streich
    • Real Estate Broker
    • Tulsa- OKC Oklahoma
    800
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    Tracy Streich
    • Real Estate Broker
    • Tulsa- OKC Oklahoma
    Replied

    @Yogesh Bhadane

    We manage over 500 homes and keep all the deposits as the management company. As Steve noted it is the tenants money and we are just holding it for them. State laws differ on the interest but we don’t even factor it in our budget it is so small. As an owner I would not even worry about the interest. 1/4% on a Few hundred or even few thousand is not worth the effort

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    Renters Place
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