Hey everyone. Im looking for advice on having separate accounts for vacancy, repairs, CapEx etc. Do you have a separate vacancy, repairs, CapEx etc account for every property or does all your vacancy, repairs, CapEx etc funds go to the same account for all properties?
Thanks in advance!
You’re over complicating things. Just have a business checking account and pay your expenses from that account. You could setup a separate savings account to save for future large repairs.
Just have an operating account for the monthly rent and repairs, separate from that, do a savings account and put your funds in there for capx
Agree with @Mike McCarthy on keeping track with good records on a spreadsheet. I do that and keep it saved on a cloud server to prevent loss of records.