General Landlording & Rental Properties

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Management LLC bank accounts

Posted Oct 1 2019, 19:38

Hi, 

Im restructuring my rentals and several members, articles and youtube videos suggest to have a Holding LLC and have individual LLCs inside of it owning one RE property per LLC.

Then open a traditional LLC to manage the rentals. This LLC will lease the rentals, collect rents, deal with contractors, etc.

Do I need one or several bank accounts for the traditional LLC (management LLC)? if I have only one bank account and all the tenants deposit their rent payments, will this be consider "commingling" funds?

Thank you for the advise.

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