for last month form his/her tenant where does the landlord has to deposit it, does he/she has to open a new special account for those 2 checks or can he/she deposit them into his/her personal account?
2006-10-27 08:42:41 · 7 answers · asked by Janice 1 in Business & Finance ➔ Renting & Real Estate
UMMMMMMMM yessssssssss
2006-10-27 08:45:40 · answer #1 · answered by Beth B 5 · 0⤊ 1⤋
most have a sep. account. on the other hand i am a landlord. i dont have a sep account. the money i get from them go right on the house payment, but the security deposit is HIDDEN in a safe place so if they were to give their 4 wk notice i have the refund to give back. also they get a reciet every time they pay for proof. you can get those at a local store...walmart, office max, shopko, ect...
2006-10-28 00:11:08 · answer #2 · answered by herman8ter 1 · 0⤊ 0⤋
As most people said check with your local statues. I remember in California where it was alowed for the monies to be deposited in one account except there always must be the funds to cover a refund.
2006-10-27 15:50:54 · answer #3 · answered by Lasher702 3 · 0⤊ 0⤋
The funds must remain separate in most states. Check your local statutes. If you conjoin the money before it's due to you, you can land yourself into a heap of legal trouble.
2006-10-27 15:46:52 · answer #4 · answered by sovereign_carrie 5 · 0⤊ 0⤋
MOST WILL DEPOSIT THEM INTO SEPARATE ACCOUNTS, THE DEPOSIT CHECK GOING INTO AN ESCROW ACCOUNT, ALTHOUGH SOME MAY NOT DO IT THAT WAY, MAKE SURE YOU HAVE SIGNED RECIEPTS.
2006-10-27 15:47:03 · answer #5 · answered by Anonymous · 1⤊ 0⤋
SOME REQUIRE A SEPARATE ACCT.
IF LEASE/CONTRACT DOES NOT STATE THEN YES THEY CAN DEPOSIT INTO OWN ACCOUNT...
CHECK IS YOUR PROOF ALONG WITH RECEIPT..
NEVER GOOD BUSINESS TO MIX PERSONAL AND BISINESS ACCOUNTS...
2006-10-27 15:50:51 · answer #6 · answered by cork 7 · 0⤊ 0⤋
you could do as you please as long as you have the money by the end of the year.
2006-10-27 15:46:30 · answer #7 · answered by emilio j 1 · 0⤊ 1⤋