Alex M.
Bank account for rental properties
So I am about to collect my first month's (plus last and security) rent on my first property - rental application in, background checks complete, initial deposit provided in the form of a check... but I don't have a b...
Preston Humbard
One lease or seperate
My wife and I are buying a condo in a primarily college town. It has 3 rooms so most tenants will be unrelated. We are trying to figure out if we should do one lease for all or separate. One of the biggest questions t...
Account Closed
Trust Fund Accounts (Do you mingle them with your business?)
Security Deposit Trust Fund Accounts There is a lot of debate about whether or not a Security Deposit should be put into a separate bank account.Some States require you to deposit a Security Deposit into a Trust Fund ...
Priyanka K.
Security Deposit - Same Account for All Rentals?
Hello fellow landlords!I know I need to keep security deposit for rentals in a separate bank account but do i need an account for each rental or can I keep them in one account for all rentals?FYI - all rentals are in ...
Sarah W Adler
Tenant security deposits - Massachusetts
In Massachusetts, can a landlord commingle multiple investment property security deposits in one account, as long as that account complied with all MA laws (interest bearing, separate from landlord funds, etc)? I have...
Paul Stout
What Happens to the Security Deposit at Sale?
What happens to the tenants security deposit if I purchase a multi family building with tenants already in it. Do I get those from the previous owner? Do I have to factor that in as a cost of purchase? Is there a s...
S Yu
Separate Bank Account for Rental Activities?
Hi all
I'm closing on my first property today a 3-family unit. I was wondering if I should set up another personal bank account for all activities. I'm going to be depositing my checks and if there are repairs I'm go...
Nili Yosef
Security deposit question- has to be in a savings account?
Hi all,Am i legally obligated to keep security deposits in a savings account? is this only if the property is under an llc or also if it's my name?Thanks!
Derek Clarkson
How Do You Manage Your Rental Income?
Bigger pockets,
I'm struggling with setting up an organized method to keep track of my rental income. I'm leaning towards the simple method of one checking and one savings account for each rental. This is great, unti...
Tim Ball
Separate Bank Accounts for Each Rental or nah?
Hello BP World,I am buying my second property which actually is a duplex. (Congrats). Thank you. I have a separate bank account for my first rental because I am taking the advice from Brandon's book on growing your...