Tenant Security Deposits

[Colin Ushkowitz]

For all of my properties, when I acquire them, I open two bank accounts: One for the traditional rent/maintenance, capex, etc. and one for security deposits. I know there has to be a better way. How do others normally go about this? I also am currently using Stessa for my property management but will probably convert to Buildium after I acquire another deal in the next few weeks. Good idea? 

[Adam Bartomeo]

We have 3 accounts for ALL of our properties - escrow, operations, and corp. If you have multiple LLC's you may want to consider having a Master or separate LLC to manage the properties. This will allow you to have the 3 accounts I mentioned for all of the properties.