The short answer
Check the property jurisdiction, ownership or management arrangement and any program requirements. Rules may specify account separation, institution location, interest, notices or other handling obligations.
On this page
Separate custody from bookkeeping
A deposit liability in a spreadsheet does not establish that the money is held in a compliant account. Confirm who is responsible for custody and what actual banking arrangement the rules require.
Maintain a traceable balance
Record receipts, lawful transfers, interest, deductions and returns by tenancy. Reconcile the deposit records with the relevant account. Keep operating expenses and unexplained owner withdrawals from obscuring the amount held for residents.
Example: changing managers
Before transferring management, reconcile each deposit and document the actual transfer and any required notices. Importing an opening liability into new software does not prove that the corresponding money was received or properly held.
References and next steps
Use these references for the specific topic they cover. Local requirements and individual circumstances may differ.
Written and maintained by the Rentari team. Examples explain a decision; they are not customer results. This is general education. Confirm the rules and treatment for your property with a qualified local professional. Found an error or an unclear step? Send a correction with this page's address and the detail to review.
Your next step
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