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Updated almost 3 years ago on . Most recent reply

User Stats

60
Posts
16
Votes
Mark Berge
  • Rental Property Investor
  • New Jersey
16
Votes |
60
Posts

Bank says I need a w-9 from my tenant for his security deposit

Mark Berge
  • Rental Property Investor
  • New Jersey
Posted

Hi All, my tenant is on his second year lease, pays on time and takes care of the property. He texts me when repairs are needed and I have the repairs made. The security deposit, $2625 is supposed to be put into a bank account which I have it in my personal separate account. I called a local bank and the lady said that the tenant needs to fill out a w-9 and after he does that, I would bring it to the bank and open a savings account for his deposit. I texted the tenant that I would bring the w-9 by for him to fill out. It has been a week and haven't heard back from him. Any ideas on what to do? Just keep his deposit in a separate account? Fyi, his lease is up for renewal July 31. He also got renters insurance I guess since his has so much personal property, every room the in the house is full of his stuff.

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