Updated almost 5 years ago on . Most recent reply
How Would I Set Up My Bank Account When Owning A Rental Property?
I'm not quite sure on how to structure my bank account... currently I have a property account and a cash flow account, to separate the cash flow from the expenses, but should I be opening a business account and within that account have a property account and cash flow account?
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@Devonte Thomas I would just have one chequing account for the property (and have everything related to that property in same place), and a savings account for the security deposits. Doesn't make sense to have a business account unless you are incorporated.