Landlord Question and Answer Forum
I've learned (Kansas) and seems most states to keep Deposits separate account, but does that also include monthly rent as well?
Jim F, KS on Tuesday, September 12, 2017
RE: Financial seperation
No, but the security deposit can be kept in accounts building interest.
Posted by
J D, CA
on
Wednesday, September 13, 2017
RE: Financial seperation
Some states do require separate accounts. CA does not.......However, you should have a separate checking acct for your rental income/expense. You may have serious problems with IRS if you get audited.
Posted by
Stan M, CA
on
Thursday, September 14, 2017
Author:
Wilfred C, NJ
Updated:
04/03/2019
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Author:
K2 V, CA
Updated:
04/03/2019
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Jaspreet D, VA
Updated:
06/17/2015
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Trevor R, IL
Updated:
11/11/2013
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Daniel P, AR
Updated:
03/22/2016
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