Worcester Virtual Meeting Wed Apr 8: Security Deposit Escrow Subaccounts

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04/08/2020 6:30 PM - 04/08/2020 8:30 PM

Note: based on best practice observed with our first virtual meeting, we've found it best to limit ourselves to a business update plus a single topic. The tour of the website and the review of the sanitary code, previously also scheduled in this timeslot, have been removed and will be scheduled again soon.

Security Deposit Escrow Subaccounts

Professionals know that security deposits need to be held "beyond the claim of creditors of the lessor." Does this mean we have to open an account under each renter's social security number using a W-9? Not exactly. We will discuss security deposit escrow subaccounts, which are tools available to landlords large and small for holding many different security deposits compliantly via online banking under one master account you control.

Security Deposit Escrow Subaccounts

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MassLandlords offers attendees of directly managed events a "No Sales Pitch" guarantee. If a guest speaker offers services, their presentation will not discuss pricing, promotions, or reasons why you should hire them. We do not permit speakers to pay for or sponsor events. Guest speakers are chosen for their expertise and willingness to present helpful educational content. Your purchase of an event ticket sustains our nonprofit model.


Wednesday, April 8th

Virtual Meeting Agenda

  • 6:30pm Sign-in and virtual networking: you can chit chat with others as people log in
  • 6:40pm MassLandlords Business Update and Member Minutes
    • Member Minutes - Any member can have the mic for 60 seconds (introduce yourself, ask a question, share words of wisdom, etc.)
  • 7:05pm Rich Merlino Meeting Introduction
  • 7:10pm Security deposit escrow subaccounts
  • 8:00pm Virtual meeting ends


Virtual Meeting and Webinar Replacement

During the COVID-19 (coronavirus) pandemic, this event series is being replaced by webinars or virtual meetings held during the normal event time. Please do not go to the physical event location. If you require assistance using webinar or virtual meeting technology, please contact us at 774-314-1896 or hello@masslandlords.net a day or two prior to the event. We can send instructions in time for you to participate.

  • Virtual meetings include optional audience participation via video, phone, and screenshare and are not recorded.
  • Webinars have limited participation options (typed questions only) and are recorded.

Virtual Meeting Details (hosted by Zoom)

  • We will share our video, audio, and computer screen and slides.
  • Optional: You can share your video with everyone, talk to everyone, and type chat with everyone. Video sharing is not required. Talking is not required.

Passwords are emailed upon purchase of a ticket. If you do not receive your password within a minute, check your spam. If it's not in spam, email hello@masslandlords.net before the event or at the start. We check email during event startup.

Join Zoom Meeting https://zoom.us/j/687419248 Meeting ID: 687 419 248 Password: Will be emailed One tap mobile +13126266799,,687419248# US (Chicago) +16468769923,,687419248# US (New York) Dial by your location +1 312 626 6799 US (Chicago) +1 646 876 9923 US (New York) +1 346 248 7799 US (Houston) +1 408 638 0968 US (San Jose) +1 669 900 6833 US (San Jose) +1 253 215 8782 US +1 301 715 8592 US Meeting ID: 687 419 248 Password: Will be emailed Find your local number: https://zoom.us/u/aezzlVDnur

Please use the zoom "test audio" feature to evaluate your microphone prior to the meeting start time. You will be allowed to talk to others if your microphone is good and there is no background noise. We reserve the right to mute anyone for any reason. Attendees without a microphone or who don't want to be heard can type questions.


Open to the public. Membership is not required!

  • Contemporaneous participation:
    • Public: $10
    • Members: $7
    • Premium Members: No charge and no need to register (Password will be emailed)

This event will not be recorded.


This event is operated by MassLandlords staff.

Want to speak at a MassLandlords meeting? Submit a speaker request.

This is part of the Worcester rental real estate networking and training series.

Suggest and vote for future meeting topics.


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