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Updated over 1 year ago on . Most recent reply

Joe Si's profile image
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Joe Si
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Joe Si's profile image
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Joe Si
  • Member since Jan 9, 2024
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Joe Si
7
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10
Posts
Managing Your Property

Same account for security deposit and rent deposit

Joe Si
Posted

WA state requires the security deposit account separate from your other bank accounts. As a new rental property owner, I'll create a new account for security deposit. Wondering though if I can use the same account to have the tenant transfer monthly rent to.

Seattle, Washington
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Julien Jeannot's profile image
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Julien Jeannot
  • CPA, Real Estate Broker & Investor
  • from Seattle & Woodinville, WA
  • Member since Jan 2, 2016
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Julien Jeannot's profile image
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Julien Jeannot
  • CPA, Real Estate Broker & Investor
  • from Seattle & Woodinville, WA
  • Member since Jan 2, 2016
  • Posts 757
  • Votes 1,042
  • Experience 17 Yrs
  • Investments 17
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Julien Jeannot
  • CPA, Real Estate Broker & Investor
  • Seattle & Woodinville, WA
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Julien Jeannot
  • CPA, Real Estate Broker & Investor
  • Seattle & Woodinville, WA
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@Joe Si

I have a separate account for deposits and rental income (my operations' account)

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