Professional Property managers-keeping track of money

[Mary Jay]

Hi guys,

So I have a question for professional property managers, or people who have more than one property they manage...

I have a small property management company and I have 2 bank accounts where the tenants deposit their rents.

From those 2 accounts I pay to contractors, ets...

1) Do you have a separate bank account for each property you manage? Or how many bank accounts do you have?

2) If you dont have a separate bank account for every property, do you pay contractors for different properties from the same pile of money? And then you just document which property used up such and such amount of money , is that how it works?

Thank you