I put mine in a no fee personal savings account that I can access online from my regular business checking account. It pays the standard half-percent interest. I admit sometimes I borrow from it for repairs or whatever.
You must know the landlord tenant law for the jurisdiction (locality, county, or state) for each property. I have kept all sec dep in separate savings accounts attached to my main CU Account. Recently I read that Delaware requires the security deposits to be held in a Federally Insured Bank with a Delaware branch. My Federal Credit Union does not have a Delaware branch so I am researching a bank w/branches in Va. Md. and De. for my ease of business.
I put mine in a no fee personal savings account that I can access online from my regular business checking account. It pays the standard half-percent interest. I admit sometimes I borrow from it for repairs or whatever.
nyjosh
I agree with ING Direct idea.
is this an online bank? I will google ING Direct for business account.
You must know the landlord tenant law for the jurisdiction (locality, county, or state) for each property. I have kept all sec dep in separate savings accounts attached to my main CU Account. Recently I read that Delaware requires the security deposits to be held in a Federally Insured Bank with a Delaware branch. My Federal Credit Union does not have a Delaware branch so I am researching a bank w/branches in Va. Md. and De. for my ease of business.