Lease Expense Account? Any advice?

Hey guys,
My group and I just signed a contract on a new lease. We have been kicking around the idea of creating a bank account for the lease fees and expenses versus running it through someone’s personal account. Anyone else do this? Is so, how did you set it up? LLC?
Trying to figure out how to establish the an account in the groups name.
Any input you can provide would be appreciated

Thanks,

Have one person open the account and keep an accounting of the money. When someone buys for the lease reimburse them out of that account. Works for us.

^^^^This, but you'll probably want two signatures on the account.

One of our guys ("lease manager") opened it as an LLC and we deposit the lease payments into it. We buy stuff on our own and email him expenses, which he turns around and deducts from our next payment. We all go to church together, so trust is implied. If (when) it comes to an end, we will see.

Deer leases are becoming similar to owning a salt water boat -------- if you put a pile of $100 bills on the back and the wind blows it into the water, if you care , you need to sell the boat.

I got off of my last lease years ago but this is how we operated. We created a partnership with each member being an equal partner. We elected a manger and a treasurer, a checking account was opened and it required 2 signatures. Every so often we would have a meeting and BBQ at one of our houses and take care of business. The 2 signatures were the manager and treasurer.

I have a general lease operating account for my personal lease. Its mainly for tax write off purposes. The majority of the expenses from the lease will go through me then my lease members will pay me back. I wouldn't recommend sharing a bank account with anyone on a lease.

Do you also carry general liability and supplemental hunting insurance? Its required by our landowner. Trying to figure out what that is going to run us. thanks for the response.

Do you also carry general liability and supplemental hunting insurance? Its required by our landowner. Trying to figure out what that is going to run us. thanks for the response

Lol!!! That’s great. I’m gonna start using that if you don’t mind