Bank accounts for Rentals

0

  • 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

https://www.biggerpockets.com/forums/52/topics/194268-bank-account-for-rental-properties

  • 0 posts
  • 0 subtopics
  • about 1 month ago by vince