Managing Your Property
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago,
Tenant Security Deposit Escrow Account
It is my understanding that in Pennsylvania an escrow account is required for tenant security deposits. Does anyone have experience with banks that offer these without fees? I had hoped to set this up with PNC since I bank with them but an in-person visit to the branch is required for set up and this is not possible since I now live in Washington state. I've seen other people in the forum who simply use independent savings accounts but it is not clear to me if that is legal. Thank you!