Chanda Wa
Holding Deposit - Best Practices
Hi all!
Do you implement Holding Deposits for your properties? If so, what are best practices for implementing in the State of MO?
Jimmy S.
who to return security deposit to?
Should the check be made payable to everyone who signed the lease? Boyfriend and girlfriend signed the lease. When I return the security deposit should I make it payable to both of them or just either one?thanks
Antonio McGuire
Rent Money, where does it go?
Hi all, I am just starting out. I bought a rental in NC and someone told me that the rent money has to go into a separate account that just is for rental income.... is this true?
Allen McGlashing
Security deposit in MA
Hey guys need some more insight I just received my tenants security deposit is there any banks out there that won't charge a fee for having a tenant-landlord account I know Bank Of America charges and that's my main b...
Judy Murphy
Tax benefits of separating rental income from pet rent?
Hello everyone. I have 3 rentals, one in Anchorage Alaska, and two out of state. With all three, I have Pet Rent. My property manager in Anchorage separates the pet rent from the general rental income on every stat...
Karla Kahmeyer
# of Bank accounts for each property
Hello BP Pros. Newbie with first post here. How many types of bank accounts do you use for the actual property management/bookkeeping activities? Do you have a checking account, a separate account for Capex etc, and a...
Shaun Anderson
Bank accounts for vacancy and maintenance
When buying a rental property for buy and hold purposes and being from out of State (in my case out of country), when I find a bank to set up an account with, is it ok or suggested, to use the same account for both...
Kristy Brueggemann
Where to hold rental income
Hi there,My name is Kristy and I am putting my townhome in Davie, Fl up for rent this month. I have never had rental property before. When you collect rent money, is it better to have a separate bank account specifica...
Daniel Gonzalez
Closing on my first deal and I have a couple questions.
Hi All,I will be closing on my first deal in the coming weeks. I'm closing on a duplex in NJ which I intend to househack. From everything I've read and heard, having the proper systems set up when first starting out i...
Joe Miller
How to handle deposits received on purchase of property Oklahoma
Hey Everyone, I am getting ready to close on my first deal Monday and have been reading about how to handle the tenants security deposits i will be receiving. Based on what I have found online it seems like deposits...