Bank accounts for Rentals


  • 2 accounts, one operating account and one escrow account
  • use account software with a chart of accounts to track each property
  • When you need personal money, write a check from your operating account to yourself and mark it "Drawing" or "Draw"

Other Options:
- Keep everything in the account and use bookkeeping to know what is where
- One checking for operations, and two savings, one for reserves and one for tenant deposits
- Separate accounts for each property

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  • 4 months ago by vince