7 Bank Accounts and 7 REI Hub Accounts: 14 Separate Log Ins?

Question

I have 4 LLCs each LLC is in a different state. LLC #1 has 4 properties, LLC #2, #3 and #4 each have one property. So a total of 7 rental properties. Considering REI Hub for bookkeeping and my credit union which can support business accounts.

If I set up each LLC and each property with their own accounts that means that I will have 7 LLC bank accounts and 7 REI Hub accounts. Is this the right way to do it? Seems inefficient to have 14 total separate log ins.

How have you all set this up?? Thank you for your specific recommendations.

Leo Stein · Answer

Magda, I run multi-property books for owners, and I'd split the question in two. First, the bank side. Keep one operating checking account per LLC and run every deposit and expense for that entity through it, so owner money and entity money never mix. Per-property accounts inside one LLC mostly add reconciliation work. Second, the software side. Pick one bookkeeping tool that supports multiple entities under a single login, then tag each of the seven properties as a class or location so you still get a P&L per door. That gets you from fourteen logins to a handful. Set bank feeds, scan receipts into the tool, and close each month by the 10th with a short checklist: unmatched transactions, security deposit balances, and owner draws. Whether four LLCs make sense across states is a question for your CPA and an attorney. Not legal advice. Happy to compare notes by message.

Sundeep Babbar · Answer

With four LLCs across states I wouldn't do seven bank accounts or seven REI Hub logins — that's the inefficiency you're smelling. One operating checking per LLC at the credit union is enough; then book the seven properties under those four entities so LLC #1's four doors share one bank feed and still get a P&L each. Per-property bank accounts mostly just multiply reconciliations once the LLC already holds title.

Valentina Dalia · Answer

Hello,

With multiple LLCs and multiple properties, it is indeed important to maintain a clear separation between entities, especially to facilitate accounting, expense tracking and traceability of financial flows.

That said, I don't think it's necessary to manage each element completely independently without first checking the possibilities offered by your bank and your accounting software. Depending on the structure used, it may be possible to keep separate accounts while centralizing their monitoring in the same accounting environment.

I therefore recommend that you confirm with your CPA/accountant and your credit union the most appropriate structure before setting up the 14 connections. The objective would be to preserve the legal and accounting separation of each LLC while avoiding unnecessarily complex administrative management.

With 4 LLCs and 7 properties, a good structure right from the start can make a big difference in terms of monitoring and monthly reconciliation.

Rachel Mazzanti · Answer

One operating account per LLC is the right call, with each property tagged inside it. That's the easy part though. Where this setup usually breaks down is the monthly discipline around it.

A few things my company watches for with multi-entity setups like yours: money that crosses entities needs to be booked as an intercompany loan, not just a transfer, or your LLCs' books quietly stop tying to reality. Security deposits should be tracked per LLC as a liability, never mixed into operating cash. And every month, each entity should close: bank reconciled, PM statement (if any) tied to the deposit, owner draws separated from expenses.

Before you commit to REI Hub, confirm it handles all four entities under one login with separate balance sheets. If it doesn't, you're right back at 14 logins.

Clever Mukori · Answer

One bank account per LLC is the part worth keeping, because that separation is what supports the liability protection; you usually don't need a separate account for each property inside the same LLC. For LLC #1, track its four properties as separate properties inside that LLC's books rather than separate bank accounts. On the software side, ask REI Hub directly whether one login can hold multiple entities or whether each LLC needs its own subscription, since that's what drives your login count. Either way, reconcile each LLC's account to its bank statement monthly, and book any money moving between LLCs as a contribution, distribution or documented loan, not an expense.

Richard (Ryszard) Cieplechowicz · Answer

Agree with the one account per LLC idea. For the single-property LLCs there is nothing to split, and for the four-property LLC you can track each door with a property tag or class in the bookkeeping software instead of a separate bank account. One login per tool, with each LLC set up as its own entity inside it. Keep a simple monthly routine: reconcile each LLC, export one report, file it. Fourteen logins is more work than the extra detail is worth.

Divin Kanyama · Answer

@Magda Rose A practical setup is usually to separate banking by legal entity, while tracking each property separately within the bookkeeping system. In your case, that would generally mean one operating bank account for each of the four LLCs—not necessarily one account for every property.

For LLC #1, the four properties could share that LLC’s bank account if income and expenses are carefully assigned to the correct property in REI Hub. The other three LLCs would each use their own account. This preserves a clear financial trail between entities without creating seven property-level bank accounts unless a lender, partner, operating agreement, or state-specific requirement calls for them.

You may also be able to manage all seven properties within one REI Hub subscription or login by organizing them by property and entity, rather than opening seven separate accounts. The important question for the software provider is whether its plan supports multiple LLCs, separate balance sheets, property-level reporting, bank feeds, and consolidated portfolio reporting under one login.

I would avoid paying one LLC’s expenses from another LLC’s account or depositing rent into the wrong entity. Consistent documentation, reconciliations, and owner-contribution or intercompany records are important if money must move between entities.

A clean structure might therefore be four LLC operating accounts, optional savings accounts for taxes and reserves, and one bookkeeping platform organized by entity and property. Before finalizing it, confirm the arrangement with a real estate CPA and attorney familiar with the states involved, since bookkeeping efficiency should not weaken the legal separation the LLCs were created to provide.

Jim Johnson · Answer

Seven properties doesn't necessarily mean seven bank accounts. With four LLCs, I'd keep one operating account per LLC and track each property separately in the bookkeeping system. That brings it down to four bank accounts. I'd also check whether REI Hub lets you manage multiple LLCs under one login while keeping their books separate. No reason to make the setup more complicated than it needs to be.

Andrew Kim · Answer

Agree with the above: one operating account per LLC, and tag each property inside it. Two things I’d add from running multiple entities. Give each LLC its own security deposit tracking, since deposits mixed into operating cash is the thing that bites in a dispute or an audit. And if you use a PM in any state, set the PM to remit to the LLC’s operating account only, so every property’s owner statement ties to one deposit you can check. Before you commit to REI Hub, confirm it handles multi-entity under one login on your plan tier, otherwise you end up back at 14 logins.

Magda Rose · Answer

Thank you Leo, I appreciate the clarity.

7 Bank Accounts and 7 REI Hub Accounts: 14 Separate Log Ins?

7 Bank Accounts and 7 REI Hub Accounts: 14 Separate Log Ins?

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