Where should I open the Business Accounts to manage my Rentals?

1 Reply

Hello BP - 

I am planning to open an Operating, a Security Deposit and a Cap Ex/Reserve business bank accounts to manage my first multifamily rental.

My question is... Is it suggested to open these accounts at a different bank or open them with the lender who has financed the property? 

Thank you

Doesn't make any difference. I like establishing relationships with lots of banks so it's useful in the future. In this case, you already have a relationship with these guys (the loan). Keep that current and you're already in good steed.