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Updated over 8 years ago on . Most recent reply

User Stats

53
Posts
27
Votes
Chris Schoonhoven
  • Real Estate Agent
  • Tampa FL
27
Votes |
53
Posts

Getting interest on reserve account with associations

Chris Schoonhoven
  • Real Estate Agent
  • Tampa FL
Posted

Hello,

I'm on a board and am looking to help improve some of the balance sheet. The association doesn't hold reserves, deferred maintenance, and escrow in interest bearing accounts. 

Are we allowed to hold these monies in interest bearing accounts so long as they are liquid? Also, I'd be interested to hear recommendations on banks that offer competitive rates.


Thanks

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