What Documentation is Required to Verify a TenantCloud Account for ACH Payments?
To set up ACH payments on TenantCloud, account verification is required. This process involves confirming property ownership or management through specific documentation, depending on your role as either a property owner or a property manager. Here's what you need to know:
Verification Requirements for Property Owners
If you own the property, TenantCloud requires proof of ownership to complete the verification process. Acceptable documents include:
Property tax bill
Deed/title
Fully executed closing documents
If the property is owned by an entity, such as a corporation or LLC, you will need to provide additional documentation verifying your membership or authority within that entity. Examples of such documents include:
SS-4 confirmation letter
Stamped articles of organization
To ensure a smooth verification process, upload these documents in response to the verification request sent by TenantCloud. This step is mandatory to confirm your ownership and complete ACH payment setup.
Verification Requirements for Property Managers
If you are a property manager rather than the owner, additional verification steps are required. Specifically, you must submit a fully executed and signed property management agreement (PMA) between you and the property owner. This document serves as proof of your authority to manage the property on behalf of the owner. Note: A lease agreement showing you as the property manager is not sufficient for account verification. TenantCloud strictly requires a signed PMA as part of their verification process.
Common Issues and Tips
Incorrect or Missing Documentation: Ensure that all submitted documents are complete, accurate, and clearly legible to avoid delays.
Attempting to Verify an Account You Do Not Own: Do not attempt to verify accounts for properties you do not own or manage, as this will result in denial of verification.
Conclusion
The specific documentation required for TenantCloud account verification varies depending on whether you are a property owner or a property manager. Understanding and providing the correct paperwork, such as proof of ownership or a property management agreement, ensures the smooth setup of ACH payments. For further assistance, consult TenantCloud's support resources.