Where's my money?!?

Your Tenants pay a security deposit, right?

* um, yeah... *

Smart move.

It's a great way to protect yourself (and get paid).

But where do you keep it?

It's not your money, after all.

Invest in Bitcoin?

Your personal bank account?

A Mason jar buried in the backyard?

Nah, you know better.

There is no rule on where to keep security deposits (except Cook County, of course).

Even so, don't get cute.

You can still get sued.

Here's a safe bet:

• Don't invest it trying to make a buck
• Use an FDIC insured bank account
• Don't commingle with personal funds

Oh ya, don't tell them where the money is at (unless you want to).

Dive deeper here.

By Landlord Legal

P.S. Always check local laws. The Brief ain't legal advice (but the Legal Plan can be).

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