security deposit and escrow account : ezLandlordForms

Start a new topic

security deposit and escrow account

Taranjeet S

started a topic almost 9 years ago

What do I do with the security deposit? where do i go for opening an escrow account or a bond? which are the advantages/disadvantages of each? property is in state of Delaware.

2 Comments

Richard W

said almost 9 years ago

An escrow account can be set up a most banks that also handle mortgages and lending. The minus to that is that it is not an interest baring account. With a security bond you do not get money upfront but you do have some added security from the companies that offer them.

Adam C

said almost 9 years ago

Well in my suggestion, a bond would prove to be advantageous. When I had given my house on rent, my property manager from Lone Star Realty & Property Management, Inc. handled all such issues. So, I didn't have to take much pain.