Landlord Question and Answer Forum

I am new to being a landlord recently bought a 2 family the first tennents were family I also reside in the property. I have been collecting a deposit but was told I would get better return for tennents in an excrow or something. can any one suggest a good practice on this topic?

This is not clear.. "I have been collecting a deposit but was told I would get better return for tennents in an excrow or something. (1) What do you mean by "been collecting a deposit? (2) "better return for tennents in an excrow or something"? Are you going to sell the property? . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data

Posted by Bob R, CA on Wednesday, December 5, 2012