Just wondering how you structure your bank accounts for your investment properties in the following situations, and how it works, assuming you have a mortgage in each case...
(a) 1 investment property
(b) 1 investment property with manager
(c) 2+ investment properties
(d) 2+ investment properties with manager
Q. Does the customer pay straight into the loan account, or a separate one?
Q. Does the manager collect rent into their account, then pay into yours?
Q. Do you have one account for each property, or one account for all your properties?
Q. Do you keep the account(s) topped up in case the rent doesn't arrive? (assuming you don't have a revolving account).
Q. Do you have a separate account to your loan account for your property and all mortgage paymetns come out of there? (which is also where the rent get's put).
Q. Anything else you can think of that you've learnt through trial and error?
Thanks!
Regan.
(a) 1 investment property
(b) 1 investment property with manager
(c) 2+ investment properties
(d) 2+ investment properties with manager
Q. Does the customer pay straight into the loan account, or a separate one?
Q. Does the manager collect rent into their account, then pay into yours?
Q. Do you have one account for each property, or one account for all your properties?
Q. Do you keep the account(s) topped up in case the rent doesn't arrive? (assuming you don't have a revolving account).
Q. Do you have a separate account to your loan account for your property and all mortgage paymetns come out of there? (which is also where the rent get's put).
Q. Anything else you can think of that you've learnt through trial and error?
Thanks!
Regan.
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