Hello. I have read some advice on this forum, but I'm still curious how you set up bank accounts in the most simplified way. Right now, based on some advice from the BP landlording book, we have a bank account for eac...

My property is in NJ. Per the bank's request, I need to ask tenants to fill in a W-9, so I can put their security deposit in an interest bearing security deposit account.The tenant wouldn't fill one, so I put her secu...

Hey guys,I'm about to close on my first property and the realization is finally starting to kick in. I need to get my stuff together.So I was wondering, for those who have one or many rental properties, how do you hav...

Just wondering what the law is and how folks generally do deposits.Cheers,Buddy

I have a commercial property and will be buying a rental home soon.Q1. Should I open a separate checking account for the rental home?Q2. Separate credit card for the rental home?Thank you.

I have opened another checking account at my bank. I have it linked to a couple of my savings account and plan to run all my rental business through just the new checking account. Im trying to find the best way to mov...

Hello, how do you prefer to collect the rent payments? Do you use ask your tenant to mail you money order/cashier check or set up online payment? if online, which web sites do you prefer to use?Do you suggest to setup...

Hey guys, Just became a landlord in NJ and had a question about storing of security deposits. I currently just have one tenant so I opened a savings and checking account for the property in my name. I placed my tenant...

Hey all,So I have a plumping bill coming that will be fairly expensive.Currently I have two SFH rentals and a checking account for each property. The property receiving the bill does not have enough to cover the expen...

Hi BP forums, We have a house that we are renting as an MTR. Going well so far and I'm honing in our processes. We do collect a security deposit and a cleaning fee. Unless something is trashed or missing I am assuming...