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General Property Management
security deposit and escrow account
T
Taranjeet S
started a topic
over 10 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.
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Richard W
said
over 10 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.
A
Adam C
said
over 10 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.
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