Banks for Landlording

[Natan Gutt]

Hi everyone!

So I just put in offer on my first investment SFR. From what I understand I should be opening a separate bank account for everything that has to do with the rental financials.

My question follows; is there a bank that is preferred for this?

Thank you for your help!

[J Zev J.]

I think in general, it's simpler to start with one bank account if you're the only owner. There normally aren't that many transactions for rental properties and as long as you'll be able to track which transactions apply to which properties you'll be good. As you start to have more transactions it will then make sense to have more bank accounts.