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FAO: Fellow Landlords - Bank Accounts
Col.Mastard
Posts: 248 Forumite
As my Portfolio is increasing, I wanted to ask you;
Do all of you have a different bank accounts for each property? Or is one account enough?
Many Thanks
Do all of you have a different bank accounts for each property? Or is one account enough?
Many Thanks
0
Comments
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i have one account solely for rent / mortgages / insurances / repairs0
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One account for properties0
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I use one account for all properties too, I think it would be a nightmare opening one for each property.
Get tenants to use property address when they set up their standing orders so it is easier for you to check.
Also in true MSE style, Abbey have a decent enough IMO FREE business account with a reserve account which pays a bit higher int. There are certain conditions but as most rents are paid SO and not much cash involved I havent paid them any charges to date.
HTHMy Shop Is Your Shop0 -
Thanks for the Replies!
Has anyone you had any problems with this arrangement? 0
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