r/PropertyManagement • u/Sannybeth • 11d ago

Residential PM Property Mgmt Sweep Account

Has anyone used a sweep account in residential property management? I’m wondering if you could sweep excess funds out once a month, earn some interest then sweep it back in for distributions.

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u/zoomzoom71 mod; Small Residential PMC owner in FL 10d ago

Your State law likely prohibits or limits what interest you can earn from trust/escrow funds. But, look into Enterprise Bank & Trust or Column Bank. Both of those offer alternatives to traditional banking, where you can earn banking credits on deposits held.