Owner Payment Integration (ACH) in STRATAFOLIO

Estimated reading time: 4 min

Continuing our mission to simplify and streamline Property Management, STRATAFOLIO offers a Tenant Portal feature as well as Tenant payment options through our software.

For our STRATAFOLIO customers based in the U.S., the Tenant payment option allows ACH payments to be made on a one-time or recurring basis which will simplify your payment tracking by minimizing late payments and bank fees for insufficient funds. Partnering with STRATAFOLIO to receive payments from your Tenants means less manual tracking, less time spent on tracking payments, and overall increased efficiency for your Commercial Real Estate business.

Benefits of ACH Payments through STRATAFOLIO

  1. Avoid late payments when the Tenant chooses the AutoPay feature.
  2. We verify funds are available in the Tenant’s account before processing the payment minimizing insufficient funds charges.
  3. Get e-mail notifications when payments are initiated and completed.
  4. View up-to-date payment status in STRATAFOLIO.
  5. Choose to have the Tenant pay the fees associated with ACH transfers.

Quick Facts About ACH Integrations in STRATAFOLIO

  • The Landlord ACH Integration is set up at the Legal Entity level in STRATAFOLIO.
  • Once the ACH Integration is set up within a Legal Entity, the Landlord can choose to pay the ACH fee themselves or they can select to have the Tenant pay the fee.
  • A Landlord is able to select which Tenants will have access to the Tenant Portal.
  • In the Tenant Portal, Tenants can set up one-time or automatic monthly payments once the Landlord completes their ACH setup.
  • The Landlord must first create an Invoice in STRATAFOLIO, in order to receive an ACH payment from the Tenant.
  • Invoices created in STRATAFOLIO are synced with Quickbooks, which makes it easy for your accounting to match the Tenants’ payments with the Invoices.
  • In order to send a payment, the Tenant must have an active lease.
  • Invoicing through STRATAFOLIO assures that rent escalations and Operating Expenses are automatically populated into the Invoice.
  • The Tenant Portal is available to all STRATAFOLIO customers. ACH options are only available for customers based in the United States.

Landlord Account Set-up

There are three quick steps to set your business up for receiving ACH payments.

1. Add ACH Integration

The first step in setting up your organization to receive ACH payments is to add an ACH Integration to your Legal Entity/Company. If you have multiple entities, you will repeat this process for each one that will receive ACH payments.

First go to Entities, then click the “i” next to the Entity that you will add the ACH Integration to.

Next, select the ACH Integrations tab and click the Add an ACH Integration button toward the bottom of the page.

2. Add Fund Source

Once you have added an ACH Integration, you will need to add a Funding Source. The Funding Source is the bank account you would like to use to receive payments. Make sure you select the correct lending institution. Some lending institutions will list multiple listings for similar branches or individual listings for personal or business. STRATAFOLIO uses Plaid to make the setup quick and easy.

If your lending institution is not displayed on the list, or if you used the search function to find your lending institution and you were not able to see it, you can still link your lending institution manually with the account numbers.

To add the accounts manually, you’ll need to:

  • Provide the account number, routing number, and the account holder’s first and last name listed on the account you’ll be using.
  • Once you verify and approve, you’ll receive two micro-deposits in the amount of $0.99 cents or less in the account number provided within a few days. A few days later, that amount will be removed.
  • Once you receive the micro-deposits, you’ll return to STRATAFOLIO to verify your account by entering the two deposit amounts. If the amounts match, your account will be verified and activated.

3. Receive Payment Settings

Once you have added a Funding Source, return to the ACH Integrations tab to select the bank account where you want your Tenant payments to be deposited. In this step, you will select the funding source you set up in Step 1, and you will also select who will pay for the Tenant fees.

Tenant Account Set-Up

Once the Landlord account is ready to receive ACH payments, your Tenants will go through the same three quick steps you just went through. The Tenants will perform this activity from their Tenant Portal. In addition, the Tenants will be able to view basic lease information and invoices from their Tenant Portal.

1. Invite Tenant to the Tenant Portal in STRATAFOLIO.

If you have not given your Tenants access to their Tenant Portal, make sure they have access by selecting the contact associated with your tenant and clicking on the Send Invite to Tenant or Investor Portal button. This will send your Tenant contact an email where they will be able to create a STRATAFOLIO account giving them access to their Tenant Portal. From their Tenant Portal, they can set up their ACH payments and access other information related to their lease.

2. Tenant Payment Set-Up

Once in the Tenant Portal, the Tenant will select ACH Payment Set-up and follow a process similar to that described above to connect a bank account.

Payment Account Types

Tenants will have the option to set up their account as Unverified or Verified, which will affect the payment limit for their ACH account.

Unverified – This allows the Tenant to make payments up to $5,000. In order to create this account type, the Tenant will be required to provide their First Name, Last Name, Email Address, and Account Type during the set-up process.

Verified – This allows the Tenant to make payments up to $20,000. The required information varies based on the type of account. Details are provided in the table below.

Customer TypeMax Payment LimitAccount TypesInformation Required
Per Month
Sole Proprietorship, Corporation, LLC, Partnership, and PersonalFirst Name, Last Name, Email Address, and Account Type
Per Transaction
PersonalIn addition to the information required for the Unverified Customer Type, you will be required to provide Your Date of Birth and the Last 4 Digits of Your SSN
Per Transaction
Sole ProprietorshipIn addition to what is required for a Verified Personal Account, you will be required to provide Your Business Name, Industry Classification, Business Location, and Business EIN.
Per Transaction
Corporation, LLC and PartnershipIn addition to what is required for a Sole Proprietorship account, you will be required to provide information on the Account Admin and Controller.

Document Verificaton Best Practices

When asked to upload a verification document, please follow the best practice guidelines below.

3. Tenant Payments – One Time or Autopay

NOTE: In order for a Tenant to make a payment, the Landlord must ensure that their Lease is currently ACTIVE (not expired) and that an Invoice has been created in STRATAFOLIO so that payments can be posted to the Invoice.

The Tenant can select to make a one-time payment or set up recurring payments with Autopay. They will also be able to access certain lease details such as files you have shared with them, lease rates (including scheduled escalations), invoices, and past payments.

Want to learn more?

Would you like to learn more about what STRATAFOLIO can do to help you manage your Commercial Real Estate Properties? Watch our prerecorded 10-minute demo to learn how we can reduce your time and effort by 80%.

Do you want to talk to us directly about how we can help your organization-specific needs? Schedule a 1:1 demo tailored specifically to your organization’s individual goals and needs.
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