There are things that we crush on and then there are things that we CRUSH on. To meet the criteria of a hard core crush an image or idea! has to really stop us in our tracks. Similar to the way our real life crush, Matthew McConaug-hottie, would stop us in our tracks if we say…perhaps strolled right past him on the street.
First, there would be the “moment of denial” – is this really happening? no, this is too good to be true. Followed immediately by the “moment of holy shit” – this is real life. people can’t just make this type of thing up! Then there’s the “moment of this is ah-mazing!” and now we can die happy after witnessing his golden locks and tanned skin just feet away. That thought process did in fact happen when we laid eyes on these capital-letter-CRUSH-worthy images! Just in a slightly less starstruck, but still equally obsessive way. This month…
We’ve got a crush on salmon-pink eyeshadow and sherbet pink shearling…
On charcuterie plates turned into charcuterie bowls complete with mini potatoes…
On black and white gallery walls mounted on a slightly higher horizon line…
On healthy desserts served with gold spoons obvi! like this Raw Oat Blueberry Pie…
On pink sequined pencil skirts paired with chambray shirts…
On wire statement stools around the table…
And on the next stop on our Wanderlust List: this stunning canyon in the Sierra Nevadas!
Which one of our crushes makes your heart flutter as much as it does ours? Obviously, it has to be that pink eye makeup from J Moon, right?! Or is it that blueberry pie? Seriously, get in mah belly! Maybe it’s those stunning Seven Tea Cup waterfalls because you never knew they existed before today and now they’re like, one of the coolest natural wonders you’ve ever seen?? Does anyone else know how to get to Johnsondale, CA?!
Whichever crush your heart chooses as it’s fave, just know, McConaug-hottie is off the table! He’s taken.
By us, obbvvvvviously. Happy March! PS: For our previous Crush Worthy moments CLICK HERE. And for our Top 10 Spring Must-Haves CLICK HERE!!
image 1 via J Moon // 2 via Canelle et Vanille // 3 via Nomad // 4 via Food Bandits // 5 via Stockholm Streetstyle // 6 via House Doctor // 7 via
If you haven’t started your children or teens off with a kids checking account optimized for their needs, you’ll want to help your college student open a checking account before they begin school.
Opening a checking account for your child can teach them about money management and financial responsibility, along with providing them an easy way to make debit card purchases. It’s never too late to get started.
One advantage to helping your young adult open their first student checking account is they have more options than they might have when they were 16 or younger. Students over 18 can open a bank account with few restrictions.
But choosing a student checking account may give them access to higher interest rates and added features and benefits, along with fee-free checking, no monthly maintenance fees, and no minimum deposit to open an account.
12 Best Student Checking Accounts
Not surprisingly, many of the best student checking accounts come from banks that also offer some of the best checking accounts for any age. However, the products below – in most cases – are tailored for young adults from the ages of 18 to 24, with the features this age group desires most, including an intuitive mobile app and low or non-existent minimum deposit requirements.
1. Best for Students under 18: Capital One MONEY Teen
Most of the student bank accounts on our list exclude children under the age of 17 or 18. Capital One MONEY Teen checking is available to children ages 8 and up. It comes with all the benefits and security of a big bank, providing peace-of-mind. This includes access to Capital One branches and Capital One Cafes for in-person service. This account also serves as a great tool to teach your young adult the basics of banking.
Capital One MONEY Teen checking is a joint account with no monthly fee, no overdraft fees, and access to 70,000 ATMs with no fees. Plus, earn 0.10% on all balances, including those in checking.
You can link Capital One MONEY Teen checking to any other bank account through any bank or neobank, making it easy to transfer money to your teen while they are away at college. Plus, you can keep tabs on their spending with their linked account in the Capital One mobile app.
When they graduate, your teen can hold onto their MONEY account or transfer the funds into a top-rated Capital One 360 Checking account of their own.
2. Best for Working Students: Chime
Chime is not a bank. It’s a financial technology company and mobile app backed by Stride Bank, NA, and The Bancorp Bank. Many features make it perfect for working students. First, you can receive your paycheck up to two days earlier than you might at other banks with ACH deposit.
Plus, you can set up automatic transfers to your linked Chime Savings account, helping you to establish good financial habits early on. Simply set up Chime to transfer a percentage of your paycheck into your Savings Account every time you receive a direct deposit.
When you use your debit card for purchases, the “Save When You Spend” program rounds up your purchase and transfers the difference directly into savings. That small change can really add up, whether you’re saving for your first apartment after college, a new car, or your next tuition bill.
For working students looking to build their credit, Chime gives account holders access to a Credit Builder Secured Visa, with no annual fee, no credit check, and no security deposit required. Instead, the credit account is secured by your Chime checking account with monthly direct deposits.
Like many of the best student bank accounts on this list, Chime has no overdraft fee, no monthly service fee, no ATM fee for in-network ATMs, and no minimum balance requirements.
3. Best Account Opening Bonus: Chase College Checking
Chase Bank has been handing out student account opening bonuses like they hand out lollipops at their branches lately. College students ages 17 to 24 can snag a $100 bonus when they open an account online or at a local branch (students age 17 will need to visit a branch). You’ll just need to make 10 qualifying transactions within the first 60 days of opening the student bank account.
What’s a qualifying transaction? Virtually anything, according to the Chase website, including debit card purchases, online bill payments, Chase QuickDeposits, Zelle transfers, and ACH credits. Bank as you normally would, and you should easily earn that $100.
In addition to the generous sign-up bonus, Chase College Checking has no monthly fees for college students for up to five years, access to 16,000 ATMs and 4,700 branches across the U.S., and zero liability protection for unauthorized debit card purchases.
Chase Overdraft Assist covers purchases that exceed your account balance. You’ll pay no overdraft fee if you’re overdrawn by $50 or less at the end of the next business day.
4. Best for Yield: Ally Interest Checking
Ally Bank is the first bank on our list not designed specifically for students, but the vast array of features in this interest bearing checking account makes it ideal for young adults.
Ally Bank offers an APY of 0.25% on checking account balances and 4.00% APY on balances in a linked Ally Bank savings account. Neither account has any monthly fees.
Ally offers several features to help those on a tight budget manage their money. You can organize your money into spending and saving buckets, which can help you see exactly where your money goes each month. Ally will also review your bank accounts and help you find opportunities to save, and shuttle that extra money into your high yield Ally savings account.
Customers who have deposited $100 or more into their Ally checking account, or $250 via direct deposit, gain access to Ally’s CoverDraft service after 30 days. This protection covers up to $100 or $250 in charges that would overwise overdraft your account. Some purchases, including Zelle transfers, or ATM withdrawals, may be declined if they would put your account into overdraft.
Ally has no monthly maintenance fee, no overdraft fees, no ATM fee for in-network ATM transactions and no minimum balance requirement.
5. Best for Referrals to Earn Extra Cash: GO2bank
GO2bank, the digital bank associated with the top financial technology company Green Dot, offers an easy, straightforward money account with overdraft protection up to $200 with eligible direct deposits. The linked savings account pays a high 4.5% APY, with no fees for qualifying customers and no minimum balance requirement.
You can get regular ACH deposits from your job or side gigs up to two days earlier than most traditional banks. If you receive government benefits, such as Social Security, you can receive those deposits up to four days early.
Your GO2bank account will have a monthly service fee that costs $5 per month, unless you have a qualifying direct deposit that month. You will also pay fees for transfers from a linked debit card from another bank or fintech, mobile check deposits, and cash deposits.
If you are the type of person with friends who come to you for advice, you can earn $50 for each friend you refer to GO2bank who signs up with direct deposit. Your friend will also earn $50. You can use this offer for up to 30 friends, yielding $1,500 annually. This makes a GO2bank account great for social media influencers or college students with a large friend group.
6. Best for Full-Service Banking: Bank of America Advantage SafeBalance Banking
Bank of America Advantage checking accounts offer options for people in various stages of their financial life. College students might be best to start out with Bank of America Advantage SafeBalance banking, a straightforward money account with no overdraft fee and no checks.
The account has no monthly fee for students under the age of 25 or customers under the age of 18. Preferred Rewards customers also receive free checking. There is a $25 minimum deposit to open an account.
New Bank of America customers can earn a $100 account opening bonus when they open an account and set up direct deposits of $1,000 or more within 90 days.
7. Best for Comprehensive Money Management: PNC Virtual Wallet Student
Money Magazine named the PNC Virtual Wallet on its best banks for students list three years running. PNC Bank divides this mobile account into three separate accounts for everyday spending, “reserve,” or short-term savings, and “growth” for long-term savings.
The account has no monthly service fee for students for up to six years, along with all the benefits of a regular PNC Virtual Wallet. Additionally, students receive a courtesy refund of your first overdraft fee on your Spend account, one free incoming domestic or international wire transfer per statement period, and free paper statements if you opt in to receive them.
Once six years have passed or you are no longer a student, your account converts into a regular PNC Virtual Wallet, which may have associated monthly fees. Check the PNC website at that time to determine the fees and how you can waive them.
Your PNC Virtual Student Wallet pays a 0.01% APY on money in your Reserve account, and .02% on account balances up to $2,499 in your Growth account, with .03% APY on balances over $2,500. These may not be the best rates available, but the reputation of PNC Bank, along with the money management features in a Virtual Wallet Student account, make this an account worth considering for students just learning to budget.
8. Best for Establishing Savings Habits.: Wells Fargo Clear Access Banking
As one of the Big Four banks in the U.S., Wells Fargo offers a reliable and safe place to store your money, plus access to thousands of branches nationwide.
The Wells Fargo Clear Access banking account is great for teens and college students, since it’s available for account holders ages 13 to 24. Anyone under the age of 18 will need to open their account in a branch and anyone younger than 17 must have an adult aged 18+ as a joint account holder. The account has no monthly maintenance fee for anyone 24 or younger. A $25 minimum opening deposit is required.
Wells Fargo Clear Access banking is a simple, straightforward money account with no checks and personalized service at Wells Fargo branches. There are no overdraft fees with the account, but also no overdraft protection. Transactions that exceed the account or minimum balance amount will be declined, which helps put teens and young adults in charge of their money.
You can link your Clear Access bank account to a Way2Save Savings account and earn a 0.15% APY. You can establish good money habits by setting up automatic savings. Wells Fargo will transfer $1 from your Clear Access account into your checking account each time you use online bill pay or use your debit card for a one-time purchase. You can also transfer as little as $25 per month or $1 per day into your account to see your savings grow even faster.
9. Best for Cash Back: Discover Cashback Debit
The Discover Cashback Debit account may not be marketed to teens and students, by name. But, it’s enticing to anyone looking for a standard checking account with no monthly service fees and 1% cashback on debit card purchases, up to $3,000 per month. It’s highly unlikely for most college students to max out that free money (unless they are putting housing, tuition, and car expenses on their card).
Discover Cashback! debit card offers many of the benefits you’d expect from these top-rated money accounts, including early direct deposit, 60,000+ no-fee ATMs, and overdraft protection from your linked Discover Savings with no fees. Discover charges no fees for insufficient funds, bank checks, regular checks, or expedited delivery of a replacement debit card.
These features make it one of the most convenient accounts you can hold. Plus, you don’t have to worry about “aging out” of the account and facing fees for a non-student bank account. Your Discover Cashback Debit account will be free no matter your age. Link it to a Discover Savings Account to earn 4.0% APY with no minimum deposit required.
10. Best for Unlimited Out-of-Network ATM Fee Reimbursement – Axos Bank Rewards Checking
Another bank account not marketed to students but meeting all their needs is the Axos Bank Rewards Checking account. This account has no monthly fees. It also reimburses ATM fees for out-of-network ATMs nationwide, which is great for students who travel domestically or who don’t have ATMs in their network on campus.
Pay no overdraft fee or non-sufficient funds fees with this account. Best of all, earn an APY of 0.40% on your checking balance if you receive monthly direct deposits of $1,500-plus. Young investors can ramp up their interest rate by 1% with an average daily balance of $2,500 in an Axos Invest Managed Portfolio Account, plus another 1% by holding $2,500 in a self-directed trading account. If you take out a loan through Axos, you can add another 0.60% to your APY.
College students likely won’t regret opening an Axos Bank account to take them through adulthood, especially with options for investing, low mortgage rates, car loans, and more.
Plus, earn a welcome bonus when you open an account and have direct deposits of at least $1,500 within a single calendar month during the first three months of account opening.
11. Best Credit Union: Alliant Credit Union Teen Checking
Alliant Credit Union offers a teen checking account for minors ages 13 to 17. The account is insured up to $250,000 per account holder by the National Credit Union Administration (NCUA). The adult account holder must be an Alliant Credit Union member. But it’s easy to join by depositing $5 into an Alliant Credit Union saving account. Alliant Savings earns an APY of 0.25%.
The teen checking account has no overdraft fees or non-sufficient funds fee. It also has no monthly fees or minimum balance requirements. Account holders gain access to 80,000+ fee free ATMs nationwide plus $20 per month in ATM fee reimbursement for out-of-network ATM use. This is an interest earning checking account which also pays 0.25% APY on all balances as long as you have at least one deposit, via ACH direct deposit, mobile check deposit, or transfer from another bank or credit union, each month.
12. Best for Young Shoppers: Varo Bank
Varo Bank is another account not necessarily marketed to college students but definitely optimized for their needs. The Varo Bank debit card delivers up to 6% cash back, with money deposited into your Varo account as soon as you accrue $5 in rewards.
Like many of the best student accounts on this list, Varo has no monthly fee, no minimum balance requirements, and no overdraft fee. If you need money before payday, you can use Varo Advance, an interest-fee program that allows you to borrow up to $250 and pay it back within 30 days. You will not pay fees to borrow less than $20. Borrowing up to $250 comes with fees that can be as high as $15, depending on the amount of cash advance you need.
Varo Bank uses the Allpoint network of ATMs, with fee free access to 55,000+ ATMs nationwide. Using other bank ATMs could result in charges up to $3 from Varo and fees charged by the other banks, as well.
It pays to open a linked Varo Bank savings to take advantage of a high 3% APY. Account holders with direct deposits equal to $1,000 per month and a positive balance in their Varo checking and savings can earn up to 4% APY.
One of the best things about a Varo account is it can grow with you. You won’t pay additional fees as an adult out of college, so you can keep the same bank account you started with for your entire life if you want.
Methodology: How We Select the Best Student Checking Accounts
To find the best student checking accounts, we evaluated the monthly maintenance fees, ATM fees, minimum deposit requirements, features, benefits, banking services provided, along with customer service and mobile app access at several of the biggest and most well-known banks and credit unions.
ATM Network
Most banks have ATM networks or partner ATM networks of 20,000 or more ATMs nationwide where you can use your debit card with no ATM fees. You might be surprised to learn that even online banks and financial technology companies that are not a bank provide access to thousands of ATMs nationwide through partner programs.
Nationwide availability (physical locations or mobile access)
College students often split time between their college campus and the home where they grew up. Finding a bank with physical locations in the areas they live or an online bank that provides a mobile banking app with fee free mobile banking from anywhere is important.
Fees and minimum requirements
Bank fees no longer have to be a way of life for today’s young adults. We chose financial institutions with no monthly maintenance fees or easy ways to waive maintenance fees.
Benefits such as high APY, cash-back rewards, or other additional perks
Student checking accounts today are more than just “bare bones” places to store your cash. Many student bank accounts offer perks, benefits, and high-yield savings or an interest bearing checking account to provide added value.
Overdraft fees
Cash management mistakes happen, especially when young adults first start learning to budget and manage their finances. Many banks have no overdraft fees and some offer overdraft protection to help out in a pinch.
How to Choose the Best Bank for College Students
We’ve offered 12 solid options to help you choose the best student checking account. Before you open a student bank account, it’s a good idea to think about what you need in your primary checking account and a linked savings.
The list below makes it easy to review your must-haves and nice-to-haves when you choose your first bank account as a college student.
Best student checking account interest rates
If you’re looking to earn interest on your standard checking account, many banks offer this feature. Review annual percentage yield (APY) figures for your top choices.
Remember, a higher savings interest rate might benefit you more, since money in your checking account tends to fluctuate based on paychecks, bills, and expenses. The best checking account may not pay interest, but can save you money in other ways.
Annual Percentage Yield (APY)
Likewise, you can put money in your pocket with an account with linked savings offering a high annual percentage yield (APY).
Mobile Check Deposit
If you get paid via paper checks, you’ll want to find an account with a mobile app that offers mobile check deposit. Find out how fast deposits clear, and if mobile banking services are fee free.
No Monthly Maintenance Fees
Many banks today make it easy to find a free checking account with no maintenance fees. If you have to pay a monthly maintenance fee, find out exactly what you’re getting for your money. Find out if the perks and benefits, such as a cash back debit card or reimbursement of ATM fees make the maintenance fees worthwhile.
Minimum Deposit and Minimum Balance Requirements
When you’re just getting started, cash may be tight. It’s important to find an account with no minimum deposit to open.
Banking Services Provided
Accounts should have customer service online, by phone or in branches, plus an easy-to-use mobile app and a debit card with no ATM fees.
FAQs About Student Checking Accounts
Read what people are asking about the best student checking accounts, including minimum deposit requirements and benefits of a student checking account.
What are the benefits of a student bank account?
A bank account tailored for students gives young adults a head start on their financial future and learning how to manage money. For students who work, they can receive direct deposits in their student account, pay bills online, and send money to friends and family using Zelle.
How to get a student checking account bonus?
Several student checking accounts, including Chase, provide sign-up bonuses. Make sure to read the fine print and complete the requirements, which may include setting up direct deposit or making a minimum opening deposit, to collect the bonus.
Can I open a student checking account without a deposit?
To open a student checking account without a minimum deposit amount, simply look for a bank account, like Varo, that has no minimum opening deposit.
Are there any downsides to opening a student checking account?
When you open a student checking account, you’ll want to make sure you won’t pay monthly maintenance fees. Some student checking accounts convert to a regular account once the student graduates, and there may be fees associated with the regular account.
Is there an age limit on a student checking account?
Most student checking accounts are open to students from the age of 18 to 24 without a joint account holder. Customers under the age of 18 may be able to open an account with a joint owner.
Can minors open student checking accounts?
Accounts like Capital One Money Teen are available to children ages 8 and up with a joint account holder. Some other accounts require students to be 18 or older.
What happens to your student checking account when you graduate?
Many of the student bank accounts on this list won’t change when you graduate college. Others offer the option to convert your account to one of the bank’s regular checking products. A Chase College Checking Account has no monthly fees for your first five years in college, but if you graduate or exceed that time frame, you might pay a $6 monthly maintenance fee unless you meet other requirements.
Apparently, our loft has nine lives. Just when you thought we couldn’t redecorate yet again – I got pregnant! My first thought upon hearing that le bebe was on the way after the initial shock wore off!?? How the heck would we cram a baby in our loft! With our new/old house months away from completion, I knew we had to find a way to make our 1-bedroom space work for our suddenly growing family. Thankfully, I think we’ve managed to do it, and quite well if I do say so myself!
In order to make way for baby, we did have to say so long to the Apartment 34 Studio wah!!. It was in the only room in our space that has a door that closes other than bathrooms of course. I also decided climbing up and down from our loft bedroom to the nursery two flights below would be less than ideal – so we decided to combine the two. I’m rather thrilled with how our bedroom + baby room turned out – but quickly, here’s a reminder of where we started:
And here’s how the room is looking NOW!
If we’d had room for a separate nursery I would have been all for it, but since we had to go with co-sleeping, I set out to create a combined master bedroom/nursery that was functional for baby, but also aesthetically pleasing for us grown-ups! The key was to keep the space from feeling too childlike. This was accomplished in three ways: 1) sticking with neutral color palette, 2) using black as our accent color and 3) relying on modern pieces throughout the space – even the stuff for the baby.
The room really started around the alphabet print above. We stumbled upon it in a shop in St. Helena. I immediately loved the muted tones and unique animals narwal anyone?!. Confession: we actually originally bought it as a baby present for some friends, but then one thing led to another and it never got sent! Whoops! So it became the main inspiration for our color palette and overall vibe.
I was also thrilled I could repurpose many of the existing design elements in the room, including our floating Ikea shelves that once served as our office bar as you may have noticed in the before pics above. They are now our changing table. Carter loves looking up at his Ladies & Gentlemen Chime from his changing pad. Diapers and all other changing accoutrements are at arms reach but incognito in the woven basket. Everything else – wipes, onsies and burp clothes are all tucked neatly away. Fun side note: I’ve had that felt Mariners mini-pennant since I was about six!
My favorite creative idea in the room? Using a chic modern towel ladder designed by Norm Architects to hang swaddle blankets you go through a ton! and display modern books and toys. My killer woven leather basket that used to house my magazine collection organized, now holds all of Carter’s little stuffed friends. I used sheepskins throughout the room to add warmth and a cozier feel – since we have a concrete floor!
I also tossed some DIYs into the room. Yes I said DIY! For example, rather than hang faux stuffed animal heads or a baby-themed gallery wall above the crib, I found a set of geometric metal sculptures on Amazon. I simply spray-painted them white with one left black to pop and tacked them to wall. It’s a completely malleable art installation that cost less than $25! I love that it gives some visual interest without being overbearing.
I did have to say good-bye to one of my favorite DIYs – our gorgeous gold bookcase see the before image for reference. It was just entirely too girly for my hubby – and even for me these days. So back to bright white the bookcase went. Instead of office supplies, I styled out the shelves with a mix of grown-up elements like design books and my collection of Kinfolk Magazines. I combined those with some childhood treasures like my collection of Mariners bobbleheads and my husband’s Boy Scouts rally car. I can’t wait to see Carter play with it one day!
Sure, there are a few whimsical touches in room. My clouds and stars mobile by Baby Jives came from my similarly themed baby shower. Yes, there are some overly sacchrin stuffed animals in the room. But other than that, we intentionally kept the baby decor as paired down as possible. It is only temporary after all. And it’s amazing how quickly things you “must” have for baby can accumulate. But now that we’re almost three months into this whole parenthood thing, I’ve narrowed down my newborn nursery must-haves to the absolute essentials. When you’re dealing with a small space, I highly recommend sticking with the basics. Baby stuff will take over if you’re not careful! Thankfully, I found quite a few of my favorite well-designed baby accessories from Munchkin. Carter particularly loves their Latch bottles – which was great because I surprisingly had a lot of anxiety about bottle selection. They even make a travel bottle warmer, making naps on the go so much easier! So many new things to worry about as a lady with a baby… But I digress.
Here are the rest of my nursery faves. I think they’re as aesthetically pleasing as they are functional!
GET YOUR SHOP ON:
> Latch Bottle by Munchkin > Nuna Leaf baby Lounger > Wipes Warmer by Munchkin > White noise, Baby Log & Wonder Weeks iPhone apps > Diaper Pail > Video Baby Monitor > Crib > Latch Pacifier
So do you like?? I bet you didn’t think we could switch things up any more after this office makeover, and then this one, and this living room makeover and then this one but I was determined to make the loft as functional and fantastic as I could for the short time that we’ll continue to be here. A space I love is SO critical to my sanity. And let’s be real – I’ll jump at any excuse to redecorate! I’m dying to hear what you think of the space! And if you like what you see be sure to come back. We updated what was our bedroom and made a few changes to our living room too. I’m going to be revealing those spaces next week!
Nursery/Master Bedroom Resources:
west elm platform bed // cedar & moss sconces // h&m linen bedding // jm generals wool bed throw // original art by bianca sotelo // stokke mini crib // aden & anais baby bedding // jessie black felted sheepskin // baby jives mobile // menu towel ladder // serena & lily stool // sheepskin rugs // vintage turkish rug & felt rug pad // ladies & gentlemen studio chime // onefortythirty wall lamp // pottery barn kids nesting floor baskets
Original photography for Apartment 34 by Aubrie Pick
This post is in partnership with Munchkin. Munchkin rids the world of the mundane by developing clever, innovative solutions that make family life safer, easier, and more fun. You can find Munchkin products at Munchkin.com, Target, Babies’R’Us, Walmart, and Amazon. It’s the little things! All opinions expressed in this post are 100% my own. Thanks for supporting collaborations that we’re excited about and keep the Apartment 34 doors open!
The gig economy was just beginning to blossom pre-pandemic. Between 2010 and 2020, the number of gig workers or side hustlers increased by 15%. Unlike many aspects of life, which stagnated during the pandemic, freelancing only grew. Statista reported that 73.3 million people work as freelancers in the U.S. right now, an increase from 57.3 million pre-pandemic.
Freelancing has tremendous benefits for many people. Freelancing or gig work can provide:
Flexibility
A better work-life balance
Increased income potential
But it can come with some financial complications, too.
As a freelancer, you’ll need to manage cash flow so that you’ll have money in your account to pay your bills. You’ll be responsible for paying your own taxes. And, with that in mind, you’ll want to track expenses carefully so that you can deduct the costs of running your freelance business from your bottom line.
That’s where having a business bank account can come in handy.
Why You Need a Bank Account If You Have a Side Hustle
According to tax laws, you don’t have to have a business bank account to run a side hustle or a freelance business. You can file your taxes using your Social Security number and receive a 1099 form as a sole proprietor.
But as your business grows, you may want to incorporate under a tax ID number. You may choose to register as a corporation like an S-Corp or, more commonly, a limited liability corporation or LLC. This can get confusing, so it’s important to speak to a tax account before you take this step.
If you incorporate your business, you’ll need a business checking account to keep your personal finances separate from your business expenses. You would pay yourself a salary out of your business account and use your personal bank account to pay for your daily living expenses, entertainment, and anything that isn’t considered a business expense.
Benefits of Business Accounts
Most small business owners, freelancers and side hustlers prefer to open a business account even if they aren’t incorporated. Having a dedicated business checking account makes it easier to track your business income and expenses, which makes filing taxes – and making quarterly estimated tax payments – easier. If you ever get audited, you’ll have a clear record of your personal and business finances.
Plus, if you do any sales and marketing for your freelance business, your business debit card can often pique people’s interest. You’d be surprised how having a debit card with your business name on it can help you generate leads in odd places, whether you’re at your favorite bar or paying for groceries.
If you’re ready to open a separate business account, it’s important to find one that will meet your needs.
Freelancer vs. Side Hustler vs. Entrepreneur
Before you choose a business account, you may be wondering about the differences between entrepreneurs, freelancers, and side hustlers. Which category do you fit in?
These are all loose terms to describe anyone who owns their own business or is self-employed. Self-employed is a tax designation, which means you are a 1099 contractor for other companies. This term would apply to most freelancers and side hustlers.
On the other hand, if you start your own business, you might consider yourself an entrepreneur. The dictionary defines an entrepreneur as someone who starts a business and is willing to take a financial risk in hopes of great success.
A freelancer may also take financial risks, including leaving a steady paying job. In a lot of cases, whether you describe yourself as an entrepreneur, small business owner, freelancer or side hustler is up to you.
Compare the Best Freelancer Checking Accounts
In most cases, business owners, freelancers and side hustlers can all benefit from a good business bank account. Read on as we compare the best business checking accounts for freelancers, gig workers, and entrepreneurs.
1. Lili Bank: Overall Best Bank for Freelancers
Lili calls itself “the one-stop shop for all your small business financial needs.” An online financial services company that provides business banking, accounting for freelancers, invoicing, and tax support, Lili is backed by Choice Financial Group Inc.
As a US-based bank, Choice is a member FDIC, which means your funds deposited in Lili are protected by the federal government up to $250,000 per account.
What sets Lili apart as one of the best bank accounts for freelancers?
In addition to all the other services it offers to business owners, Lili has no minimum balance requirements, no monthly fees for basic checking, and a network of 38,000+ fee-free ATMs nationwide. You can also open a business savings account and earn 1.50% APY at Lili.
Lili’s basic business checking account has no monthly fee, expense categorization for your purchases, and the ability to generate quarterly expense reports.
Alternatively, for $9 per month, you can earn 1.5% on savings, get a Visa business debit card with cashback rewards, overdraft protection up to $200 and tax, invoicing software, and accounting support.
Lili integrates with third-party services that gig workers may use, including Etsy, Shopify, Venmo, QuickBooks, and your PayPal business account.
When you compare the prices of other invoicing and online accounting services, you may find that Lili offers tremendous value for the money as one of the overall best banks for gig workers you can find.
Bluevine: Best for Business Interest Checking Account
Like Lili, Bluevine is a financial technology company. It is backed by Coastal Community Bank, Member FDIC to protect your deposits. The Bluevine business checking account offers 2.0% interest, which sets it apart from competitors.
To take advantage of the interest, you’ll need to either spend $500 per month with your Bluevine Business Debit Mastercard or receive $2,500 per month in customer payments to your Bluevine business checking account.
There are no monthly fees or minimum balance requirements and you can make unlimited transactions with no fees. Like Lili, Bluevine also offers other services for business owners.
If you are looking for a business interest checking account with value-added services, consider Bluevine. Your account integrates easily with QuickBooks, with no fees involved. Plus, you can set up sub-accounts to easily manage your money, add authorized users, and pay bills via ACH or wire transfer from your Bluevine account.
While many credit providers offer business credit cards, Bluevine is one of only a few business checking accounts that offers a business line of credit. You may qualify for a credit line of up to $250,000, with a rate as low as 6.2% interest. This interest rate is much lower than the national average of 20.46% for business credit cards right now, as reported by The Balance. Plus, you could get approved in as fast as five minutes, according to the Bluevine website.
For entrepreneurs seeking to purchase tools or resources, or freelancers in need of business equipment, Bluevine’s line of credit could provide you with the financial security you need to grow. Take note that you’ll need a credit score of 625 or more to qualify and $40,000 in monthly revenue. This is probably not a service for a gig worker, but for a seasoned entrepreneur.
Even so, it’s never too early to get started with a business checking account, especially one with no monthly fees.
Amex: Best for Debit Card Rewards and Bonus Offer
American Express is a renowned name in business and consumer rewards credit cards. But you might not be aware that the company also offers a business checking account with 1.30% APY on balances up to $500,000.
American Express also has no monthly maintenance fees, no fees on domestic ACH payments, and no fees at MoneyPass ATMs. The American Express Business Blueprint app makes it easy to manage your account.
Amex stays true to its credit card rewards roots with a rewards business debit card. Earn 1 Membership Reward point for every $2 on eligible purchases. You can combine points earned with Membership Rewards points accrued with other Amex cards, and use those points for travel, gift cards, or cash back. You can also convert those points into cash deposits directly into your new business checking account.
Amex’s bonus offer stands out to us. Earn 30,000 Membership Rewards points after you deposit $5,000 or more within the first 30 days of account opening, maintain that balance for the next 60 days, and make five or more qualifying transactions within those first 60 days.
NBKC Business Checking: Best for No Fees
If finding a business bank account with no fees is most important to you, a nbkc Business Checking account might fit the bill. The bank offers unlimited transactions with no fee, no minimum balance requirements, no monthly fees, and no opening deposit requirements either. You can also have out-of-network atm fees reimbursed for up to $12 per month.
If you are a freelancer just getting started or just looking to supplement your full-time income with a side hustle, you’ll find nbkc bank a low-cost and convenient option among free business checking accounts.
NBKC lacks some of the bells and whistles of the top choices on our list. You won’t get integrations with common business software or invoicing and accounting support. But a nbkc business checking account is free with your personal account and provides an easy way to keep your business and personal funds separate.
Novo: Best for Payment and P2P Money Transfer App Integration
Novo is another choice with no monthly maintenance fee, no monthly fee, free ACH transfers, and no minimum balance needed. Like many of the business bank accounts on this list, Novo is a financial technology company. It’s backed by Middlesex Savings bank, a Member FDIC, which means your money is protected up to $250,000 per account.
Novo is the best for business owners looking for an easy way to process payments or transfer funds. You’ll get free ACH transfers from another checking or savings account and refunds on all out-of-network ATM fees.
Novo integrates with many P2P payment apps, including Square, Shopify, and Stripe, as well as Etsy, eBay, Amazon and more.
When you use Novo Boost, you can get paid 95% faster through Stripe, or two business days before the funds would ordinarily appear in your account.
Plus, it’s quick and easy to open an account online, with approval as fast as 10 minutes – rather than days with some other online bank accounts.
Axos Bank: Best for New or Scaling Businesses
Many freelancers don’t think about opening a business account until they have incorporated their company to make that transition from self-employed to entrepreneur. If this sounds like you, Axos Bank could have the best bank accounts for you. The online bank is offering business owners who incorporated after June 2020 an extra $200 in their new business bank account.
If you aren’t newly incorporated, you can earn a $100 bonus.
Like many of the best business accounts on this list, Axos has no monthly fee, no minimum monthly average balance to hold, ATM fee reimbursements for all domestic transactions, and no minimum opening deposit. The bank accepts cash deposits or you can transfer money from other checking accounts via ACH.
Unlike many online banks, Axos offers business owners a dedicated relationship manager to help point you to the products and services that are best for your growing business.
Chase Business Complete Banking: Best for Credit Card Processing
As the largest U.S. bank, with assets of $3.31 trillion, Chase is a traditional bank that offers all the convenience of online banks. This includes personalized service, stellar fraud protection, and a host of other features and benefits we’ve come to expect from any financial institution.
The Chase Business Complete Banking account is ideal for entrepreneurs, offering unlimited transactions and no monthly fee (if you meet certain requirements). These requirements are relatively easy to meet with a $2,000 minimum balance, $2,000 in purchases on your Chase Ink Business credit card, a link to a Chase Private Client Checking account, or $2,000 in deposits from QuickAccept or Chase eligible merchant services.
The best aspect of Chase Business Complete Banking is the ability to process credit card transactions and receive funds the same day through Chase QuickAccept. (Additional fees apply.)
You can open an account with no minimum deposit to get started.
Wave Money Business Banking: Best for Free Business Banking
Wave Money integrates a free checking account with easy bookkeeping for freelancers and solopreneurs. Wave is best for those who want to improve cash flow with instant pay and want bookkeeping tools to make tax prep easier.
Wave has no monthly fee or transaction fees, so you keep more of what you earn. You can use the mobile check deposit feature for convenience, and make ACH transfers easily. There are no transaction limits with Wave, and you can also connect third party payment processors.
Wave is another fintech company, with banking provided by Community Federal Savings Bank, Member FDIC. That means your funds are insured for up to $250,000 per account.
TIAA Bank: Best for Business Investments
Besides checking accounts, TIAA Bank offers a variety of banking products for entrepreneurs and gig workers that sets it apart.
If you’re considering business savings accounts, TIAA offers CDs and money market accounts to earn interest at a rate higher than you may get with another account. Currently, TIAA’s one-year business CD offers an APY of 3.75%.
TIAA’s checking accounts offer easy online banking and mobile check deposit, along with personalized service from a business solutions specialist.
LendingClub Bank Tailored Checking: Best for Earning Checking Account Rewards
The LendingClub Bank tailored checking account for freelancers is one of the few banks on our list where you can earn interest on your checking balance, plus 1% cash back rewards when you use your debit card.
Account holders earn 1.5% APY on balances up to $100,000 and 0.10% APY on the portion of your balance that exceeds $100,000.
LendingClub Bank reimburses fees if you use an out-of-network ATM. The bank also supports QuickBooks, Quicken and Mint for budgeting and bookkeeping. You can also send digital invoices and get paid directly to your LendingClub account, making LendingClub Bank Tailored Checking one of the more robust and affordable online banks for freelancers.
Just make sure to maintain an average daily balance of at least $500 to have the monthly fee waived.
How to Choose the Best Bank Account for Your Business
When you’re evaluating business bank accounts, you’ll want to consider your needs and the features that are most important to you.
It should go without saying that you want an account with no monthly fees or no monthly fees. Unless you’re an established business owner, you may also want no minimum balance requirements. You don’t want to get saddled with fees if your business runs into cash flow problems or you have a down month.
If you run a high-volume business, look for a bank account with no transaction limits, no in-network ATM fees, and unlimited ATM fee rebates.
Need a way to manage contracts, collect invoices, and help with taxes?
Your business bank can represent much more than just a place to deposit cash and a means to pay your bills. Many of the best bank accounts on this list also offer freelancer invoicing, tax assistance, and ways to manage contracts.
Budgeting and Savings Features to Look For
When you’re a freelancer, it’s convenient to have an easy way to track your expenses and budget for not just expected costs, but surprise opportunities or financial emergencies.
Just as you should have a personal bank account established with emergency savings, you want a business savings account. In fact, you may want multiple business savings accounts or the ability to divide money into various buckets for known costs – like taxes – and unexpected expenses, such as car repairs or a new phone.
Some budgeting and savings features are nice to have, such as an interest-earning checking account and cash back on debit card purchases.
Why We Chose Lili as the Best Business Bank Account
Lili graces the top of our list because the fintech company offers so many value-added services for entrepreneurs that it’s virtually a one-stop shop for freelancers. However, the other banks on our list for best business accounts have their own benefits you might want to consider.
Should You Use Different Banks for Personal and Business Finance?
If you already have a separate bank account for your personal finance, there is something to be said for opening a business account through the same bank. You may get extra perks and benefits or waived fees. Best of all, it’s easier to use one app to manage all your personal and business banking.
But if you opt for an online financial services company, instead, it is typically easy to transfer funds between accounts. Also, companies like Lili and Bluevine specialize exclusive in business accounts, which means they have services tailored specifically to your needs.
Bottom Line
A lot of factors go into choosing the best bank account for your business checking needs. Knowing your must-haves, nice-t0-haves, and those features that don’t really matter to you can help make the decision easier.
FAQs
What is a business bank account?
A business bank account is a dedicated account separate from your personal accounts that you use to deposit cash, checks, or other customer payments earned through your business. You should also use your business checking account to pay for business expenses.
Do You Need a Business Bank Account if You’re a Freelancer?
Freelancers are not required by law to have a separate business banking account. But if your business is incorporated as an S-corp, C-corp, or LLC, you are required to keep your business and personal accounts separate.
Should You Have a Separate Bank Account If You’re a Freelancer?
Even though it’s not required by law, it’s a good idea to have an account separate from your personal checking account to help you keep track of business income and expenses.
What Makes a Business Bank Account Ideal for Freelancers?
Business bank accounts often have many of the same features as some of the best personal bank accounts. That would include low or no minimum balance requirements, no monthly maintenance fee, no transaction fees, and no hidden fees.
You may also look for features like mobile check deposit, unlimited electronic deposits, and low wire transfer fees if you have a lot of customers, clients, or vendors outside the U.S.
Methodology: How We Select the Best Bank Accounts for Freelancers and Side Hustlers
We evaluated the best bank accounts for freelancers based on the ability to earn interest, monthly maintenance fees, minimum balance requirements, the ease of making cash deposits, customer service, and more.
Some banks are better for freelancers who don’t maintain a high balance or only have a few transactions per month. Entrepreneurs with fast-growing businesses looking to scale may prefer a business checking account with unlimited transactions and the ability to accept credit card payments through the same bank.
Some business owners may want to be able to integrate their Quickbooks accounting system through their bank.
We have banks on this list designed for small business owners, freelancers and side hustlers at every stage of business growth.
Before deciding which house to buy, think about your lifestyle, your current and anticipated housing needs, and your budget. It’s a good idea to create a prioritized list of features you want in your next home – you’ll soon discover finding the right house involves striking a balance between your “must-haves” and your “nice-to-haves.”
To start, consider your lifestyle. If you love to cook, you’ll want a well-equipped kitchen. If you’re into gardening, you’ll want a yard. If you’re planning your office at home, you may want a room for a separate library or work space. If you have several cars, you may require a larger garage. Use this list as your search guide.
Next, think about what you might need in the future. As you consider your housing needs, it’s important to consider how long you may live in your home. If you’re newly married, you might not be concerned with a school district right now, but you could be in a few years. If you have aging parents, you may want to look at homes that offer living arrangements for them as well as you. It’s important to think about your new home’s location just as carefully as you do about a house’s features. Location is a huge part of any move. In addition to considering the distance to work, you need to evaluate the availability of shopping, police and fire protection, medical facilities, school and day-care, traffic and parking, trash and garbage collection, even recreational facilities.
Perhaps the most important decision is deciding on the type of home you want. Do you want a condominium or a co-op? A town house or a detached single-family home? Do you want brick, stone, stucco, wood, vinyl siding, or something else? Do you prefer a new home or an older one?
Through all of this, make sure to talk to your real estate professional about where you want to live. While more buyers now use the Internet to gain access to listings, or available properties for sale, it is still a good idea to use an agent. The agent brings value to the entire process: he or she is available to analyze data, answer questions, share their professional expertise, and handle all the paperwork and legwork that is involved in the real estate transaction.
We never tire of looking at magnificent midcentury modern homes—and we’re not alone. They’ve been favored on architectural popularity lists for well over 75 years!
Midcentury modern design began in the mid-1940s, right after World War II. Soldiers were coming home, starting families, and setting off the baby boom—and they needed new homes quickly and inexpensively.
The experimental technologies and materials—steel, aluminum, tempered glass, stucco, and plywood—developed during the war and beyond were quickly applied to residential structures to meet the needs of the growing U.S. population.
The style had staying power—and spread across the U.S. You might think the epicenter of the midcentury modern movement would be in swanky Palm Springs, CA, where the design was energetically embraced. Or perhaps in the Midwest, where architectural icon Frank Lloyd Wright helped originate the movement.
But a simple search on Realtor.com® reveals that original midcentury modern homes can be found throughout the country.
The prices are as varied as the locations. We found prime and well-preserved examples ranging from $2.6 million to $249,500.
If open floor plans, floor-to-ceiling windows, sleek spaces, and a cool-cat vibe are on your list of must-haves, take a look.
Price: $1,995,000 Handsome in Hollywood: Brimming with original features, this 1960-built home is nestled in the hills of Beachwood Canyon, close to the Hollywood sign and the Lake Hollywood Reservoir. Celebrity-filled hiking trails await right outside the door.
This one is a three-bedroom, two-bath, 1,502-square-foot beauty with walls of glass, transom and picture windows, sliding glass doors, and balconies.
Original features include glass-block walls, a concrete-block fireplace, beamed ceilings, and brick planters. This hillside home is already pending sale.
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Price: $2,600,000 Pretty and petite: Beautifully restored and located in the popular Sun Terrace neighborhood, this two-bedroom, two-bath, 1,338-square-foot home proves that good things really do come in small packages.
Every square inch of this “atomic ranch” has been stylishly renovated. For example, custom floors were poured to match the original terrazzo. We’re also crazy about those primary-colored floor tiles.
Other exquisitely updated features include a sparkling kitchen with high-end appliances, and a high-impact roof and windows. The house is further equipped with smart technology.
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Price: $535,000 Boise beauty: Built in 1961, the two-story home has been updated with modern features like a state-of-the-art kitchen.
The three-bedroom, two-bath abode, with 2,028 square feet of interior space, has been updated from floor to ceiling. Plus, the home’s 9,583-square-foot lot includes a hot tub, storage shed, and chicken coop.
The home is located in a quiet neighborhood near downtown Boise, so there are plenty of shops and restaurants nearby. It’s also close to the interstate and the airport, just in case you ever need to get away from this pretty little piece of paradise.
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Price: $335,000 Kansas cocoon: If you’re the type who likes to keep the neighbors guessing—this could be the time capsule for you! All the big windows are in the back, and that 1966-era, stone-front exterior allows for plenty of privacy.
The interior space measures 1,949 square feet, and there are three bedrooms and two baths. Downstairs, you’ll find a playroom and storage area, a two-car garage, and an additional storage shed.
The listing indicates that “lots of possibilities await,” so it may need a little work.
The 0.42-acre lot is located on a cul-de-sac, not far from Garden City shopping. The nearest big city is Wichita. You’d have all the advantages of small-town living while enjoying a big-time, sophisticated home.
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Price: $1,900,000 Old yet new: While the architecture was inspired by seminal home designers Frank Lloyd Wright and Richard Neutra, this spacious home has had all of its mechanical systems updated. It’s a miraculous feat of blending midcentury modern style with 21st-century convenience.
This five-bedroom, seven-bath, 6,716-square-foot home sits on a 2.7-acre hilltop lot. It features sweeping views of the the surrounding countryside via floor-to-ceiling windows. Its finer features include all walls with cross-bracing to hold firm in a storm, exterior fir wood siding, and marble walls and chimneys.
Built in 1960, and fabulously maintained and updated, the property comes with additional living quarters that could be used as a short-term rental, according to the listing.
And there’s more good news: Most of the midcentury modern furniture can stay in the home, for the right price.
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Price: $1,725,000 Perfection in Princeton: This immaculately restored and updated home features a garage that has been converted into a light-filled office space. The property also comes with a beautiful apartment with a separate driveway and patio.
The five-bedroom, 4.5-bath dwelling sits on a leafy, 3-acre lot close to downtown Princeton. Originally built in 1955, it has period features like an open floor plan, beamed ceilings, large expanses of glass windows and doors, and a fireplace.
Bonus: Your kids can walk to an excellent school via a footpath from the backyard.
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Price: $249,500 Well-rounded: The least expensive home on our list, this circular brick house has four bedrooms, 2.5 baths, and tons of style.
That sturdy construction could be responsible for its holding strong since it was built in 1964, since hurricanes have been known to pummel the region. Residents stay toasty and safe in its curvaceous sunken living room with a full masonry fireplace. The open kitchen with a spacious dining nook is another of the 3,046-square-foot residence’s highlights.
Louisiana might not be the first place you’d think to look for such a Space Age abode, yet here it sits, right in the middle of Louisiana’s fifth largest city. The low price and retro style attracted a buyer, and the property is now pending sale.
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Price: $2,200,000 Unquestionably unique: This midcentury modern design will absolutely take your breath away with its soaring ceilings, redwood-and-stone finishes, and towering windows overlooking picturesque Margaret’s Falls.
Built in 1961 by award-winning architect John Michael, who was inspired by Frank Lloyd Wright, it has six bedrooms and five baths in a roomy 5,453 square feet of space. The fenced, hilltop lot is spacious as well, measuring almost 5 acres of landscaping near the house, as well as private woods.
Highlights include a stacked-stone, double-sided fireplace, original stone floors, and clever built-ins.
So you all know Sunday Suppers, right? The beyond beautiful Brooklyn based company that is known for throwing the most epic dinner parties. E-P-I-C. You may also know them for their seriously cool cookbook. And if you own it like us, you’re likely lusting after the styling and food ideas that fill the pages while wishing you had a kitchen full of beautiful props to make meals prettier. Well wish no further! With the continued goal of inspiring people to celebrate gatherings with friends and family, Sunday Suppers is on their way to making the most beautiful kitchen goods you’ve EVER ever seen with their new line, Ila. From gorgeously designed olive oil bottles to the best and most unique pantry items like black sea salt from Hawaii, we die over this line of pantry essentials.
For their debut collection, Ila has chosen five varieties of sea salt because you can never have enough – especially as a stylist!, spices, wildflower honey, olive oil, and maple syrup – all essentials every cook should have on hand! And right now, you can get your hands on these beautiful kitchen must-haves through Ila’s Kickstarter campaign, so run! We’ve already pledged, obvi – that olive oil is the olive oil of our dreams.
So go on and treat yo pantry to these goodies while supporting their Kickstarter here! Please? Because we don’t know about you, but we want to continue to see more of the absolute dreaminess Ila is throwing down!
As peak buying season approaches, typically in June and July, you may find yourself competing with several other prospective buyers or dealing with limited inventory that’s quickly snapped up. Even in this fierce climate, you don’t need any special battle gear to succeed in peak buying season. Here are 5 tips to help you navigate the summer market and secure the home of your dreams:
Start Research Early
Research the market in your area ahead of time to become familiar with what’s available, what conditions exist, and what price trends are occurring. Look into the average cost of property taxes, land transfer tax, insurance, and maintenance fees so that you can have a realistic idea of the total expenses involved. This will help you make an informed decision when you do find a place you like.
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Get Pre-Approved
Have all your financing lined up, including a pre-approval from your lender and proof of funds letter showing you’re ready to buy. That way when you’re ready to make an offer you’ll have an edge over other buyers who may not have their documents ready yet.
Be Prepared to Move Quickly
Properties change hands fast during the summer months, so if you find a once-in-a-lifetime home, expect that others will want to jump on it too. Don’t hesitate on a home you love; you’ll want to make an offer as soon as possible.
Don’t Be Afraid to Negotiate
If you have the means, consider submitting a higher offer than what the seller is asking for. However, money is not the only factor that influences the seller. You may want to consider offering other favourable terms like a flexible move-in date to sweeten the deal.
Be Open-Minded
If you’re willing to compromise on certain features or qualities in a home, that will give you a higher chance of finding the right property for you faster. Consider which components are must-haves and which ones you’re willing to forgo. Amid intense buying conditions, it may take a few attempts to find what you’re looking for so being open-minded can facilitate the process.
Are you planning to enter the summer market? Our agents are here to help! Give us a call today to speak with a local real estate agent about summer market conditions in your area.
Considering a move this summer?
Contact us today to speak to a Realtor in your area
What if the amenities at your apartment community went beyond the usual pool, tennis courts and fitness center — way beyond? How involved might you choose to be in an apartment society, a place that encourages shared involvement with fellow residents?
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In California, an apartment community developer is going beyond the basics to give new meaning to “community,” creating programs like theater troupes, adult enrichment courses and after-school care for residents. And in Denver, some lucky sports fans can look forward to cheering for baseball… from their own rooftop!
Programs that have paid off According to John Huskey of Los Angeles-based Meta Housing Corporation, apartment communities can do more to support families who live there. In building his most recent family-oriented apartment communities, Huskey discovered that there was a real need for on-site programs — and specially-designed spaces — where children could gather after school and continue to learn. That’s why his company has created after-school learning and mentoring programs which are available to residents living in the apartment community at no extra cost.
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The benefits to the children who participate have proved to be substantial. The after-school programs kept kids at home, actively engaged in study — instead of involved in risky behavior. And the learning opportunities increased their confidence at school. These programs have been so successful that Meta Housing Corp. has begun building dedicated, school-like structures in more of their apartment communities to accommodate the programs.
Sharing the arts at home The same is true in Meta Housing Corp.’s senior communities, where education and art programs have been wildly successful. The company first began offering adult enrichment classes to seniors in great-room spaces, noting that the most popular courses involved creativity and the arts. They also noticed that, while the great-room environment was attractive to some residents, most found it too impersonal for social activity. In later generations of their senior communities, they have developed smaller, more intimate spaces for residents to gather to take classes and get to know each other. These new spaces foster a tighter-knit sense of community.
Seniors have enjoyed the enrichment and social aspects of arts classes so much that Huskey’s company went as far as building a 78-seat theater in one apartment community dedicated to a permanent theater troupe. When the theater troupe isn’t giving professional performances on-site, residents are allowed free access to use the theater building, as well.
Take me out to the ballgame… next door! Another approach to creating community at home is featured at Broadstone Blake Street in Denver, Colorado. Alliance Residential is building a modern apartment community right next to Coors Field downtown. (Residents will be able to see the field from the rooftop of the community.) The residence-in-development is thought to appeal to young people — perhaps especially men — who want to live in a walkable area with easy commutes for working and access to downtown excitement, like ball games. Sharing that excitement with apartment neighbors — and built-in proximity — will make living in this community THE place to be a sports fan in Denver.
Toward apartment societies The success of Meta Housing Corp.’s children and senior programs might indicate that apartment communities are evolving. With an emphasis on enriching resident lives beyond basic shelter, these spaces — based on what residents want and need — might become known as apartment societies in the future.
What else might the future hold? Amenities including on-site senior services like medical care and support groups, or family-oriented services like childcare or even home schooling could be possibilities. As apartment living continues to change shape and mature, multifamily community developers around the country will be looking to Huskey’s success to gain insight on new ways to meet the needs of their residents. In the meantime, you can look for ways to create community in your own apartment life today.
10 Cool Apartment Amenities You’re Missing Out On
Photo credit: Shutterstock / Monkey Business Images
Get ready to unlock a treasure trove of invaluable insights and expert advice that will revolutionize your vacation rental property. In this Redfin article, we dive deep into the world of vacation rentals, revealing powerful strategies to make your property shine and leave guests in awe. From savvy investments that boost your property’s allure to crafting an unforgettable resort-like experience, forging strategic partnerships, and crafting personalized guest interactions, we’ll equip you with the knowledge to exceed expectations and achieve unrivaled success in the fiercely competitive world of vacation rentals.
Whether you own a vacation rental property in the enchanting city of Orlando, FL, or the picturesque town of San Marcos, CA, this comprehensive resource is tailored to elevate your rental business to new heights. Here are 18 transformational secrets to maximize guest satisfaction, earn rave reviews, and propel your property to the one of the most sought after homes in the area.
1. Make your rental stand out
“To maintain a five-star rental property, you’ll want to go above and beyond tenant expectations. Our data shows that including a washer and dryer, upgrading to newer appliances, and providing freshly painted walls in neutral tones will not only make your rental stand out, but also make the process of finding great tenants faster,” recommends Doorstead. “Moreover, by ensuring access to a responsive property manager, you can guarantee that all aspects of the home are well taken care of, truly enhancing the tenant experience.”
2. Pretend your vacation rental is a five-star resort
“The most important thing to remember about managing a vacation rental is that this is the hospitality business, not the landlord and tenant business,” shares Todd Ortscheid, Co-Owner of Revolution Rental Management. “You have to think of what you’re offering more like a hotel or resort than a traditional rental property. This means cleanliness, fast response time, desirable amenities, and a well-maintained property. The more you think of your property as a five-star resort, the better off you’ll be.”
3. Consider creating strategic partnerships
“We recommend partnering with a company that specializes in exclusive vacation rental portfolios. If your property is a top-tier, five-star rental, it’s essential to align it with a company whose branding and services cater to the discerning needs of luxury clientele,” recommends Gary Doss, Co-Owner of SoCal Vacations. “Larger companies that offer a broad range of properties may not be able to meet the high expectations and unique demands of this premium market segment.”
4. Personalize communication
“To ensure a successful guest experience, effective communication plays a pivotal role. It is crucial to make your guests feel genuinely welcomed, leaving a lasting impression. One way to achieve this is by remembering their return and incorporating delightful surprises. Consider offering their favorite snacks accompanied by a bottle of wine, arranging fresh flowers, and providing a personalized welcome message upon their arrival,” recommends Ellie Paget, CEO of HomeSlice Stays.
“Prompt responsiveness is of utmost importance when it comes to addressing guest requests or concerns. Aim to respond to them in a timely manner, never exceeding a 15-minute timeframe. This level of attentiveness demonstrates your commitment to their satisfaction and enhances their overall experience.
By prioritizing personalized communication, you can create an exceptional guest experience that fosters satisfaction and builds positive relationships.”
5. Decorate with style
“When it comes to guest experience and satisfaction, décor has the potential to make a significant difference in how guests perceive your rental property. To ensure an exceptional experience, it is crucial to infuse your property with chic and stylish decor, incorporating appealing color schemes and well-curated furnishings,” recommends Ellie Paget.
“To achieve a truly unique and captivating aesthetic, consider leveraging the expertise of our dedicated team. They can assist you in designing your home, helping you create an environment that not only catches the attention of potential guests through eye-catching marketing images but also provides a one-of-a-kind experience during their stay.
By investing in stylish decor and enlisting professional guidance, you can elevate your rental property’s overall appeal, command top dollar, and leave a lasting impression on your guests.”
6. Make sure you have security and safety measures
“To prioritize the safety and security of your guests, it is important to emphasize on security and safety measures. Install reliable locks, smoke detectors, and fire extinguishers. Provide clear instructions on emergency procedures and ensure your guests feel secure throughout their stay. A focus on safety gives guests peace of mind and contributes to their overall satisfaction,” recommends Damir Dumo from Chalet.
“Smart locks with rotating access keys for each guest are must-haves nowadays. We use a smart home automation system that can be remotely managed for all of our homes.”
7. Leverage guest’s reviews
“Pay attention to guest feedback and reviews,” says Damir Dumo. “Actively seek feedback from your guests and use it to improve your property and services. Address any concerns promptly and implement suggestions that align with your goals. By consistently evolving based on guest feedback, you’ll maintain a high level of guest satisfaction and enhance your reputation as a top-notch rental property.
Ask for a five-star review on the day the guest checks out. If it wasn’t a five-star experience, ask the guest to give feedback directly to you.”
8. Discover your secret formula to winning a rave review
“We’ve found that rave reviews are the secret to creating successful, five-star rental properties,” says ALL IN. “This begins with maintaining excellent communication with our owners, guests, and community management teams. Maintaining a meticulous standard of cleaning, offering modern amenities, and assuring attention to every detail are non-negotiables that must always be upheld as a standard.
We invite the input of our guests and respond promptly to their questions, needs, and feedback. Creating memorable experiences keeps them wanting to share their experience with others.”
9. Elevate your guest’s stay with tailored upsells
“When catering to today’s travelers, it’s important to go beyond providing accommodation and focus on creating memorable experiences. Enhance your guests’ stay by offering exciting upsells and activities that align with your property’s location,” says Kennedy Williams from Mount.
“For instance, if you’re near a beach, consider providing e-bikes, or if you’re situated by a lake, offer kayaks. By incorporating these quality add-ons and upsells, you eliminate the guesswork and reduce trip planning stress for your guests, ensuring your property is a memorable stay for all the right reasons.”
10. Elevate your guest experience through realistic promises and delightful surprises
“The top-performing property managers consistently prioritize the basics of a well-maintained property, comfortable beds, and clean linens to create a memorable guest experience. They also excel in attentive guest communication, providing timely and personalized responses that make guests feel valued and supported,” mentions Hostaway.
“They’re also careful in setting realistic expectations by promoting property highlights without overpromising, along with adding delightful touches like unique decor, outdoor games, or welcome gifts, further enhancing the guest experience.”
11. Thoughtfully prepare your guest’s needs before they arrive
“Take the time to think about your guest experience from their perspective,” recommends Floorspace. “By anticipating their requests, you can provide the amenities, information, and special touches that will make their stay seamless and memorable, while also reducing the amount of communication required.
It’s also helpful to keep in mind the benefits of providing a positive guest experience, which can’t really be overstated. Not only will you garner more five-star reviews, but you’ll also increase your chances of repeat and direct bookings.”
12. Set a competitive pricing strategy
“One thing that often gets overlooked is pricing strategy. You can have high occupancy throughout the year, but if your pricing is not competitive, you will not reach your highest earning potential,” recommends Humberto Pacheco, CEO of Naya Homes. “You will need to research similar listings in your area and take into account factors such as location, size, amenities, and seasonal demand.”
13. Automate communication
“Automating communication in a natural tone through templates or automated messages streamlines your interactions with guests while maintaining a personalized touch,” suggests Alex Withorn from Thorn Point Vacation Rentals. “This approach allows you to experiment with different messaging strategies, refine your communication based on guest responses, and deliver consistently excellent customer service without guests realizing it’s not manual correspondence.
Investing effort in repeat business can significantly contribute to ensuring another great review. By fostering strong relationships with guests and providing exceptional experiences, you increase the likelihood of them returning, resulting in positive reviews from satisfied repeat guests.”
14. Harness the power of preemptive reviews
“When you give guests a five-star review, specifically letting them know before they leave their own review can encourage reciprocity and forgiveness. By expressing gratitude and acknowledging their positive experience, you create a positive feedback loop that encourages guests to leave similarly favorable reviews,” says Alex Withorn from Thorn Point Vacation Rentals
“Being upfront about expectations and educating guests about the review process is crucial for ensuring positive reviews. Transparent communication sets the stage for mutual understanding and helps guests provide feedback that aligns with their expectations, leading to more favorable reviews.”
15. Ensure your guests have a streamlined experience checking in and checking out
“Being in the cleaning industry for so long, I found that attention to detail, open communication, consistency, and streamlined processes leads to a five-star rental experience,” says Celestial Cleaning Service. “Every little thing counts, from beginning to end. The way your entrance is presented with wine and chocolates and a personalized letter, to the ease of checking out. Ensuring all staff members associated with delivering a five-star experience is up to date with your standards in delivering a great experience is key.”
16. Create a cleaning schedule
“To ensure a consistently high standard of cleanliness and maintenance in your vacation rental, it is important to establish a comprehensive cleaning schedule. This schedule should encompass tasks that need to be performed daily, weekly, quarterly, and seasonally,” recommends Jacqueline Barbosa from Morfin Cleaning Services.
“Examples of such tasks include carpet cleaning, window washing, and high dusting. Consider small details such as re-caulking, checking batteries, lightbulbs, filters, and even painting the unit if necessary. It is crucial to use quality products and professional cleaning services to ensure that every area, including appliances and windows, receives proper care.
Attention to detail is key when managing a rental property. In platforms like Airbnb, linens and bedding should be in excellent condition, and all appliances must work properly. Guests should have access to all necessary amenities such as toilet paper and soap, and a complete set of cooking utensils should be provided. It is important to regularly inspect these details and replace anything that is worn or damaged.”
17. Conduct inspections
“To maintain a high-quality vacation rental, it is important to regularly inspect, maintain, and upgrade the unit, including appliances and amenities,” says Jacqueline. “Providing a comprehensive guide for guests, which includes information on internet access, streaming services, local attractions, and useful tips, enhances their experience.
“Essential amenities and toiletries such as toilet paper, soap, and dish soap should be provided and regularly restocked after every visitor. Maintaining open communication with guests, checking in upon arrival, and seeking their feedback throughout their stay are key to providing excellent customer service and ensuring a positive guest experience.”
18. Provide uninterrupted guest service anytime, anywhere
“Providing a smooth and memorable guest experience is essential to maintaining a five-star rental. This involves communicating promptly with guests (no matter what time of the day or night), solving guest problems in a timely manner, and giving guests the tools to create the vacation of their dreams,” shares Sam Ripley from LocalVR.
19. Provide perfectly maintained appliances, ample storage space, and an inviting ambiance for your guests
“When it comes to keeping a five-star rental property, I recommend that all appliances and technology be well maintained and in excellent working condition,” suggests Norma Reyen, Professional Organizer and Owner of Simply Fresh Interiors. “I also recommend making sure that there is enough storage space, such as drawers, cabinetry, shelving, and hanging options. Having an appropriate amount of storage allows for a clean and decluttered space that all guests can enjoy. Lastly, maintaining a fresh-smelling home with good lighting and an airy ambiance will make your rental home memorable.”
20. Monitor booking requests
“Be communicative and professional, but warm and friendly. Don’t allow anyone to book without maintaining a standard; for example, guests must have previous and recent positive five-star reviews,” recommends Michael Skomina, from Host Easy BnB. “Liaise with your cleaners and laundry service, as they are the crux of the business and the most important asset to your success. Follow up and inspect after cleans; if necessary, guide and provide feedback in positive ways to help your services provide the best possible standard that you desire.”