Escrow Account for Multiple Tenant Deposits

[Cheng Bin Zhang]

I've been individually creating landlord-tenant accounts for each of our units and it's becoming quite a hassle to have to physically go into the banks to create each account.

I was told by my banker that I might be able to establish a commercial trust account and create sub-trust accounts to maintain each of the security deposits separately. Is anyone familiar with this?

The biggest pain point is having to physically go into a branch and wait to create these accounts. If I can share the W9s and my identity over email/video call, that would be great.

Any thoughts? How do you hold all the escrows now? 

Thanks for the help,

Cheng