I could really use some help here. I’m about to close my 2nd park. The property management LLC is appealing. I’m signing up for remote deposit where I will sit on my butt at home and scan checks to the bank instead of taking them all in. One of the issues I have noticed with remote deposit services is the bank may tie the check scanning machine to a single account, which means if I have 10 parks, I have 10 check scanning machines. Are there ANY major hangups if tenants write checks (from multiple parks) to a property management LLC? Should the tenant write somewhere on the check which park they are in? When the checks are taken in, would i then transfer the money from each park back into that park’s bank account?
I have a check scanner and deposit to 8 different entities. Most of them have 2 accounts. We use Chase and I think the scanner is $30 / month. It will scan about 150 checks at a time. They have a single feed scanner for $15 per month. That is not per account- one fee, scann to all of the accounts.