Tenant Lease Security Services

  • Reduce administrative costs
  • Generate additional revenues with account interest
  • Eliminate effort required to generate tax documents
Landlords, building agents and property managers must confront the time-consuming task of processing tenants' security deposits. M.Y. Safra Bank can reduce administrative burdens by establishing segregated accounts and generating tax forms for individual tenants.
Many laws and regulations govern the management of tenant security deposits. At M.Y. Safra Bank, we have become experts in this complex field. We assist building owners and property managers by creating new accounts, handling deposits and overseeing withdrawals.

Specifically, M.Y. Safra Bank sets up segregated accounts for each tenant; we can provide clients with an unlimited number of these sub-accounts. Further, we generate consolidated statements so each landlord can view all of their security holdings by building. Finally, we produce and distribute the required annual 1099 tax forms to each tenant.

M.Y. Safra Bank not only manages the maintenance of these accounts but pays landlords up to 1% interest on each account. We can help reduce administrative workloads and increase revenues. Contact us about addressing your tenant lease security needs.
Business Savings
M.Y. Safra Bank recognizes that growing a successful company requires advance planning. With a Business Savings Account, you can grow your savings while knowing you're prepared for the future.
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