Comingling Funds of Managed Property

[Patrick Nolan]

I have some rentals of my own and each is in an LLC with its own bank account. I'm about to begin being prop mgmt of a SFH for an investor with a separate company I have established.

How do people handle funds? Do I pay the mortgage for the property owner? How about setting funds aside for vacancy, maintenance and capital expenditures? Do I hold those monies?

Is the lease between my mgmt company and the tenant? Property owner is going to put the property into an LLC but has not yet done so.