Earlier this year, we officially launched Zibo, the only financial services platform built specifically for independent landlords. Our free tools — including banking, rent collection, and expense management — help rental property owners save time, stay organized, and achieve passive income.
Whether you just closed on your first rental property or already have a growing portfolio, a Zibo bank account can help you maximize your real estate investment.
Here are a few ways that you can make the most of your free Zibo bank account:
1. Let your money make money
Independent landlords tend to keep a substantial amount of cash on hand to cover the unforeseen expenses of owning rentals. But because they need fast access to those funds, the money often sits in a regular checking account — which means landlords miss out on interest.
With Zibo, you can earn interest on your cash — even in checking accounts. Zibo bank accounts earn 3.75X the national average interest rate on your cash balance, with no monthly or hidden fees.
And if you’re locked into your current bank accounts because of mortgages, that’s no problem. You can still use Zibo to link your accounts in one place and then open a Zibo checking account as a sweep account to earn interest on your excess cash.
2. Automate and track rent collection
Zibo’s free rent collection tool makes it easy to collect and monitor rent payments across properties. Our rent collection dashboard helps you track tenant payment status in one place so you can instantly see who is behind schedule.
Zibo is also the only online and offline rent collection platform, helping landlords accept both electronic payments and paper checks. For electronic payments, you’ll receive a notification as soon as tenants send their rent, and their payment status will automatically update in your Zibo account.
If you collect paper checks, you can immediately make deposits from your phone with Zibo’s web-based app. This will help improve your cash flow while saving time spent going to the bank to deposit checks in batches.
3. Organize your security deposits
When you own multiple rental properties, keeping track of security deposits (and all of the regulations around them) gets complicated.
With Zibo, you can open a free bank account to keep your security deposits separate from your rent money. This also allows you to earn interest on your security deposits, which you can either keep or pass on to your tenants to keep them happy (again, just make sure you’re compliant with local regulations).
Landlords can also use Zibo’s security deposit management tool to track critical information like the lease end date, tenant name, damage deductions and interest owed for each security deposit — helping you stay organized ahead of tenant turnovers.
4. Manage multiple bank accounts in one place
If you’re like most independent landlords, you have multiple banks and bank accounts for your rental business, thanks to years of buying properties and getting loans. Just keeping track of all of those logins and passwords — let alone managing your books — can be a nightmare!
With Zibo, you can link all of your bank accounts in one place — allowing you to view and manage all accounts with just one login. You can also use Zibo to easily move money between accounts so you have cash in the right account when you need it.
5. Simplify tax prep
Expense management can be a major headache for independent landlords. Come tax season, many rental property owners painstakingly review spreadsheets and bank statements in order to make the most of their deductions.
With Zibo, landlords can easily tag transactions by property for up to 24 months of expenses. You can even tag expenses in non-Zibo linked accounts.
Landlords can also use Zibo’s tax classification tool to add Schedule E categories, helping to simplify tax prep and reduce time spent manually categorizing expenses.
Ready to open a Zibo bank account?
We know every rental property business is unique — that’s why Zibo offers a variety of tools to best fit your needs as an independent landlord.
Sign up for a Zibo bank account today to get access to all of our free tools to help you save time, stay organized and grow your business.
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Log in to open a Zibo bank account today.
