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 Lee, Co-Founder, Landlord Gurus


Chris comes from a family of real estate investors, and remembers well his childhood of helping to clean and paint apartments between renters.


Chris is a licensed real estate broker and now manages a mix of his own property and others for family, consisting of single family homes, multi-family complexes, and the occasional condo unit in and around Seattle. He also has particular insight into the issues around short-term rentals as he has managed those for himself and for other owners on AirBnb, VRBO, and other platforms.


Prior to Landlord Gurus, Chris worked in website development and digital marketing, assisting firms across a wide range of industries. He, along with his wife and two kids, also found themselves living and working overseas for several years.


Upon his return to the US, Chris often turned to Eli for property management advice and help with property maintenance. At this point, the two decided to start Landlord Gurus to help the countless others searching for answers to similar problems.


In his free time, Chris enjoys outdoor sports and activities including baseball, skiing, golf, hiking, and spending time with family and friends.


Education:
- BA, Economics - Whitman College
- MA, Pacific International Affairs - University of California, San Diego
- MPA, Public Accounting - Open University of Hong Kong

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