Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
5y
Hi @Miquel Castillo, that is an interesting question. As far as rent deposits go, I would open a personal checking account (these are cheaper than business accounts) with your bank and deposit everything in that. You will also want a savings account to put everyone's security deposit in. This is will make it so much easier for bookkeeping and tax purposes. All bills relating to the property should come out of this account as well (bills, mortgage, repairs, etc.).