Instead of their cash sitting in a savings account, they decided it would be a better investment to earn 3% on their money instead of .03% in the bank.

The only “good news” is you’re paying for last year’s shortage and thsi year’s taxes, or this year’s shortage and next year’s escrow account. 

However, even in these cases, you typically leave a small amount of money in the deal and only break even before accounting for vacancy, repairs, and other expenses.

You have he ability to connect multiple accounts if you would like to setup different properties like this.

Getting a bit overwhelmed with all the required County Level and City Level business licenses, STR permits and Tax accounts (Business Tax, Franchise & Excise Tax, Sales & Use Tax) to register with the state.

@Ashley Kehr I use a combination of Apartments.com for rent collection, RentSpree for tenant and background screening, and Stessa for accounting.

Tenant covenants and agrees to pay interest at the maximum lawful rate or eighteen percent (18%) interest, whichever is less, compounded annually, on all unpaid Rent, damages, and other amounts owed by Tenant, excluding late fees, from that date of Landlord’s final accounting until such time Tenant pays all such outstanding amounts.

However, a good real estate accountant is worth what you pay them because they will save you time and money. 

We currently accept rent from tenants using a variety of 3rd party apps-Cashapp, Venmo, Zelle but are moving away from accepting payments in our individual names and want to start accepting payments directly to the LLC/business accounts, but LLC accounts do not accept Zelle and there is a fee for using business accounts on Venmo.

You can create an account to advertise yourself as a host or a guest (or both) and get matched with others.