Best bank account for landlord

lynsayjane

Hi,

Am wanting to open a current account for renting my flat to manage rent, mortgage payments, insurance etc but am not sure where is the best place to look.
Obviously as I will only have the rent paid into it I may not hit any minimum thresholds and don't want to pay monthly charges etc. At the same time I want to get the best interest rate available to build on the profit I'll make to help when it comes to income tax time.

Any advice gratefully received!
LJ
x

grumbler

lynsayjane wrote: »

...
Obviously as I will only have the rent paid into it I may not hit any minimum thresholds and don't want to pay monthly charges etc. ...

Unlike 'Premium' pay-for accounts, ordinary current accounts don't have any monthly charges and thresholds with very few exceptions. However, some do offer some benefits for stipulated minimum monthly credits.

dano24

Maybe you could consider a business bank account? The only issue is that using some banks personal accounts to process business proceeds (and flat rental is a business income) is against t&cs.