Landlord Question and Answer Forum

Forum / General Property Management / security deposit and escrow account

What do I do with the security deposit? where do i go for opening an escrow account or a bond? which are the advantages/disadvantages of each? property is in state of Delaware.

Taranjeet S, NJ on Sunday, June 8, 2014

RE: security deposit and escrow account

An escrow account can be set up a most banks that also handle mortgages and lending. The minus to that is that it is not an interest baring account. With a security bond you do not get money upfront but you do have some added security from the companies that offer them.

Posted by Richard W, PA on Wednesday, June 11, 2014

RE: security deposit and escrow account

Well in my suggestion, a bond would prove to be advantageous. When I had given my house on rent, my property manager from Lone Star Realty & Property Management, Inc. handled all such issues. So, I didn't have to take much pain.

Posted by Adam C, TX on Friday, June 20, 2014

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