Account Closed
Can Rental Deposit be Turned Into a Profit Center?
I recently purchased my second property in a condominium complex located in a St. Louis suburb. I am looking for some feedback on whether to require a damage deposit or charge a non-refundable move in fee. 1. Damage D...
Robert Niessen
How is prepaid rent handled in a sale?
Hi BP,
My wife and I are looking at making our first purchase. It's a duplex in Quakertown, Pa. One of the tenants has prepaid rent through August 2017. How is prepaid treated in a sale? Does the unearned portion...
Toby Gingold
LLC's / Checking Accounts
Hi All, I am in the process of closing on two SFR's in upstate NY. I am putting them under the same LLC. I was wondering if I could get some advice about the following:1) How should I set up bank accounts for these? 2...
Dave Jackson
Property Manager Wants Bank Account Access
Hello Bigger Pockets Community,
I have some multi family properties (total of eight units) and the property management company has a shared bank account so they can deposit rents and then debit expenses with co-sign ...
Sara Taslitt
Where do you put the deposit to hold?
Hi Everyone-I have just accepted my first tenant in my new rental property. I will be collecting a deposit to hold. Where should I put that money? I plan on making it her security deposit if all goes well, but before ...
Stephen Scire
Financing thru Equity
Hello Bigger Pockets friends ... I have a question regarding funding.I'm interested in scaling up ,...I currently have equity built up in 2 investment properties...they actually have no mortgage on them.I also have 30...
John McKee
Do you have one bank account for all of your LLC?
How are you guys managing your properties from a banking perspective. Do you have an LLC for each property with each having its own bank account? What has been the easiest.
Rajeev Agrawala
Tax treatment for Interest on rental security deposit
Hi,I have separate accounts setup for security deposit in Baselane. When I receive interest next year would I be responsible for paying the tax on that. How do people allocate tax to the renter rather than paying it t...
Nicholas Kitchen
Separate Bank Accounts
I want to get an idea of how people organize their bank accounts. I have 2 rental properties, looking at a third - a duplex. Right now, I keep both rental properties in separate bank accounts from each other, as well ...
Holly Barrett
Credit Security Deposit?
So I have this scenario:Tenant early termination, fee = $800 (equal to one month's rent)Security Deposit = $700 He is entitled to security deposit as per condition of unit, however he has not paid the early term fee, ...