Updated over 2 years ago on . Most recent reply

Seperate credit card for rentals?
Hello,
I currently own 6 units total, I have a seperate checking account 'Investment property' that all money produced from the rentals goes into and does not co-mingle with my personal checking. Bills for the properties also get paid with this 'investment property' account.
My question is do I need to have a seperate credit card for these properties? Most things that I buy on a daily basis for these properties I just charge to my credit card and then pay off with the checking acct for the property. I also use the same credit card for personal use....is this an issue come tax time if audited? I make sure to keep and seperate evey single reciept for each respective property...
Thanks!
Most Popular Reply

I have one account and card for 100s of buildings.
When the bill comes for, say, $10k, I'll enter the check to my accounting software and break out the properties and the respective cost categories that made up the $10k (based on what was paid)
Just like my electric bill. I get a $20k electric bill as a single charge. In my accounting software it's broken down into what charge for what property.