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Updated about 4 years ago on . Most recent reply
Management LLC bank accounts
Hi,
Im restructuring my rentals and several members, articles and youtube videos suggest to have a Holding LLC and have individual LLCs inside of it owning one RE property per LLC.
Then open a traditional LLC to manage the rentals. This LLC will lease the rentals, collect rents, deal with contractors, etc.
Do I need one or several bank accounts for the traditional LLC (management LLC)? if I have only one bank account and all the tenants deposit their rent payments, will this be consider "commingling" funds?
Thank you for the advise.
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Bjorn Ahlblad
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
Pro Member
#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@Carlos C. commingling funds only becomes an issue if you mix your PERSONAL funds with your LLC funds.