Victor Verano
Basic security deposit question for a Midterm rental
It's our first time setting up a medium term rental and bought a house with 6 bedrooms that the previous owner had been renting out as an MTR for travelling nurses (by the bedroom). We intend to continue with the same...
Kayla Bassett
Rental bank accounts?
Hey folks,I am full speed ahead to close on my first duplex in mid-January. Will be utilizing this as a house hack. I need to get my banking situated for property expenses and am looking for suggestions on the best wa...
Michael Doherty
Closing on 2nd Duplex Should I set up another account?
Hi all,I am closing on my 2nd duplex in December and want to stay organized. Curious to see how people stay organized from a financial standpoint with tenant security deposits and separate banking accounts. Right now ...
Laci Rossett
Checking account for security deposits from multi unit properties
My question is: should I get one checking account for the deposits of all the tenants in the building or do I get separate checking accounts for each tenants security deposit? I'm asking because if I get a 25 unit apa...
Carlo D.
How to set aside Reserves
Hello Folks!Got a newbie question. I recently closed on my first rental apartment here in NY. The seller is renting it back from me for the first year at least. My question is do you have a separate account where you...
Justin Smith
Checking/Savings Separate Accounts per property???
I'd be really interested to hear how everyone separates their checking/savings accounts as far as for rental properties and also for saving up for the next investment? Do you prefer a single account for each property ...
Mark Berge
Bank says I need a w-9 from my tenant for his security deposit
Hi All, my tenant is on his second year lease, pays on time and takes care of the property. He texts me when repairs are needed and I have the repairs made. The security deposit, $2625 is supposed to be put into a ban...
Mary Jay
Professional Property managers-keeping track of money
Hi guys,So I have a question for professional property managers, or people who have more than one property they manage...I have a small property management company and I have 2 bank accounts where the tenants deposit ...
Philip L.
Security Deposit Rules
I understand that the security deposit needs to be in a regulated financial institution account - I currently put them into my company's chase business savings account - is this good enough or are we required to open ...
Cerise Goldberg
Do I need a separate bank account
Hi, I just bought my first rental property. Do I need a separate bank account?