Jonathan B.
Multiple bank accounts on LLCs ? holding structure question
Hi Guys,Currently own multiple properties (Sfr),they are spread out into various LLCs, having couple of properties in each LLC.these LLCs are all owned by and a subsidiary of a 1 holding LLC.Rent is currently flowing ...
Cheng Bin Zhang
Security Deposits in Massachusetts
Hi All,Have a few questions regarding the collection of security deposits. In the commonwealth of MA, I understand there are strict regulations around security deposits including:1. Having a Tenant-Landlord Checklist...
Kristopher Kelly
Need to open a "Security Deposit Account" with being out of state
Hello BP Fam,I am hitting the forums today with a question due to talking to my bank today. In the state of Delaware, the security deposit must be held in a "security deposit account". My question is do any out-of-sta...
Jeffrey McKee
Tenant filing suit for security deposit from a year ago :/
Hi All, I have a tenant who has come back to me requesting her 400 dollars of the 1200 dollar security deposit. She was 1/4 roomates and did pay 400 of the 1200 deposite. They all vacated the property early due to co...
Guy Yoes
Co-mingling funds: do's and dont's
I set up a parent LLC (not a series) for my properties (each have a LLC). I have a separate acct for each door. Each account has a checking and savings. the savings is for deposit escrow. If I move my rental income to...
Lauren Beech
Is a quit claim my answer?
Good evening everyone!
I am looking for some advice on the proper way to turn my current primary property into my investment property. I currently have a LLC that I would like to transfer my property into but I've r...
Daniel Winsor
Tenant Disappeared - Legal Responsibilities
I own a duplex and rent out the 3/2 opposite me. I really didn't want to do separate rooms, and the lease isn't written as such, but the tenants treat it that way. Lease ends November and tenants are moving out. One o...
Brad Haughton
Money when it comes to investing
Should I create a second bank account for my rental money to go into or should I just use my current bank account for all the money that's coming in ?
Sharad M.
Accounting for multiple LLCs?
Hello all,
I wanted to see how you guys are dealing with accounting issues of owning multiple LLCs? Do you have a separate bank account for each LLC you own? Or you have a main bank account for the primary LLC and us...
Account Closed
Two LLC's, Two Bank Accounts?
Hi all,Currently I have one LLC and a business bank account associated with it.If I create another business, does it make the most sense to create a separate business bank account for it?Thanks,Ben