Multiple rentals in LLC multiple bank accounts, opinion?

[Jonathan B.]

Hi Guys,

Having several properties divided into several LLCs.. these LLCs are owned by a Parent LLC, which is owned by a partnership.

LLLP -> Holding LLC-> Rental LLC1/ LLC2 / LLC3

All income/expenses are flowing out/in from a single bank account.
im using QB to account and allocate by classes, so no mess there.

i heard there is a need to have a bank account separate for each LLC, it seems excessive and cumbersome to me.

is there a better way to go about this and maintain a balance between protection and ease of operating?

i was considering setting up a property management LLC, owned by the holding LLC to manage all the rental LLCs, collect rents etc and having them flow back to the main account.

what are you thoughts? do you have suggestions on better ways to set it up?