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Updated about 3 years ago on . Most recent reply

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Matt Allen
  • Real Estate Agent
  • Alexandria Virginia & Washington DC
10
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Accounting stuff ?

Matt Allen
  • Real Estate Agent
  • Alexandria Virginia & Washington DC
Posted

Do you normally set up a non-interest acct for security deposits and separate accts for each property to collect rent?

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Paul De Luca
  • Real Estate Agent
  • Chicago, IL
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Paul De Luca
  • Real Estate Agent
  • Chicago, IL
Replied

@Matt Allen

What does your lease say? The security deposit accounts I have set up are interest bearing, which I think is typical. And yes you should probably set up multiple checking accounts to keep things cleaner.

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