escrow accounts (by Kathy [PA]) Jun 5, 2012 1:07 PM
escrow accounts (by Greg [MA]) Jun 5, 2012 1:15 PM
escrow accounts (by Alex [IL]) Jun 5, 2012 1:18 PM
escrow accounts (by V [OH]) Jun 5, 2012 2:02 PM
escrow accounts (by Nicole [PA]) Jun 5, 2012 6:23 PM
escrow accounts (by proofstyle [PA]) Jun 6, 2012 4:26 AM
escrow accounts (by Kathy [PA]) Posted on: Jun 5, 2012 1:07 PM Message:
State Specific Question About: PENNSYLVANIA (PA)
To open an escrow account for security deposit now requires picture ID w/ birth date as well as SS# of tenant. Since you have this information from application/credit check do you need tenant permssion to give this infomation to the bank? --173.49.xx.xx |
escrow accounts (by Greg [MA]) Posted on: Jun 5, 2012 1:15 PM Message:
My bank requires a W9 --12.96.xx.x |
escrow accounts (by Alex [IL]) Posted on: Jun 5, 2012 1:18 PM Message:
? Really?
I wouldn't even tell them it was for deposits. Just open an account, or buy a short term CD. Whatever the best return is.
State rules or banks rules? I consider deposits my $ until they move out, then it goes against repairs and gets returned to them. If any $ left to return. --24.245.xx.xx |
escrow accounts (by V [OH]) Posted on: Jun 5, 2012 2:02 PM Message:
Why give them any control, it is up to you to return after the accounting is completed. --68.76.xxx.xxx |
escrow accounts (by Nicole [PA]) Posted on: Jun 5, 2012 6:23 PM Message:
I buy a 12 month CD with the security deposits. It's in my name and the bank doesn't know it's a security deposit. I'm not sure the deposit needs to be titled the way you are doing it. If you know of something that requires individual escrow accounts to be set up for each tenant, please let me know where to read this. Years ago I put everything into one account and manually figured out the individual interest if any was owed. Now, I find it easier for my own bookkeeping to keep every one separate ... and the interest negligible. --72.95.xx.xxx |
escrow accounts (by proofstyle [PA]) Posted on: Jun 6, 2012 4:26 AM Message:
I will be visiting banks later today. --68.83.xxx.xx |
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