Accounting, Infographics, Rent Payment

7 Reasons to Have a Separate Bank Account for Rental Property (Infographic)

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It is best to have a separate bank account for rental property to keep personal funds separate from business funds. Avoiding the commingling of funds can help you to protect your assets and make taxes easier. A separate bank account can help landlords simplify accounting and bookkeeping by allowing for better tracking of income and expenses.

If you’re looking for the best bank account for landlords, check out our comparisons and top recommendations.

internal link Also Read: Why Landlords Need a Separate Bank Account for Rental Property

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About Chris Lee

Chris comes from a family of real estate investors, and remembers well his childhood of helping to prepare apartments between renters. He now manages his own property, apartment complexes, and condos. He has particular insight into the issues around short-term rentals as he manages those for himself and for other owners.
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